European initiative, RUBIZMO, to develop businesses in rural economies

These potential sectors include food, bio-based value chains, agriculture and ecosystem services.

RUBIZMO, replicable business models for modern rural economies is an EU horizon 2020 funded project. With an aim to develop rural entrepreneurship and successful business models in high potential sectors the new European initiative is working to identify the vital ingredients. 

Irish Rural Link is one of 16 partners, across 11 countries, involved in the new European initiative. The potential sectors include food, bio-based value chains, agriculture and ecosystem services.

According to Louise Lennon, policy and communications officer at Irish Rural Link, the project aims at generating jobs and growth in highly diverse rural areas.

Lennon said that RUBIZMO will identify 50 successful business cases and 20 new business models. It will also explore conditions for replication to develop four practical user-oriented tools.

“Every partner in the project will then identify other EU-funded and cross-border projects, with good business models,” she added.

She further added that at this stage the integration of projects, as well as local business models, will be done by the Irish Rural Links.

RUBIZMO business models have been created by business innovators, investor gateways, researchers and NGOs for modern rural economies. The collaborative approach aims at identifying best initiatives to generate rural jobs and boost growth.

A RUBIZMO’s spokesperson also said that 50 percent of Europe’s surface comprises of rural areas which are home to over 20 percent of its population and thereby plays an important role in the European economy.