Abstract:
Various definitions have been used in scientific
literature to define the term 'Bio-economy'. For
the purpose of this presentation the definition
given by the European Commission (Schmid et
al., 2012) is used. According to this definition a
bio-economy means "an economy using
biological resources from the land and sea as
well as waste, including food wastes, as inputs to
industry and energy production”. The definition
emphasizes biological resources and biomass as
inputs to other industries. In a bio-economy,
biotechnology contributes to a significant share
of its output. It encompasses the use of advanced
knowledge of biotechnology and the use of
renewable biomass and efficient bioprocesses
that support sustainable production.
