Nature-inspired innovation policy: Biomimicry as a pathway to leverage biodiversity for economic development

One of the most important challenges 21st century is quest for economic development models that respect planet's ecosystem. Rather than imposing our industrial systems on nature, why not let nature influence and innovation systems? From wind turbine blades to bullet trains solar cells, many technologies we rely today have been inspired by solutions found in nature. Although relatively widespread fields architecture engineering, biomimicry/biomimetics remains largely overlooked economics, public policy, studies. This paradoxical because world's remaining biodiversity stock-a knowledge bank both current unknown challenges- held developing economies can be leveraged as a source inspiration -and entry door to- innovation. paper, therefore, investigates relevance biomimicry formulation sustainable strategies biodiverse countries maps out national policy landscapes advance it. Several findings arise from this study. First, despite exponential growth field understanding its impact, what drives nature-inspired elusive. Second, landscape dominated industrialised relied proactive interventions, while virtually no country has adopted an strategy, consolidating exploitation world firms high-income nations. Third, drawing empirical evidence selection Latin American countries, paper shows presents tremendous opportunities leapfrog towards high value-added knowledge-intensive activities using local related expertise factor endowments, institutional factors led persistence coordination failures hinder expansion commercialization biomimicry-based R&D. concludes discussing policies needed support integration nations at frontier through biomimicry.