Bio-economy Facts

bio-economy wheel showing sectors breakdown, shown as text below

The bio-economy is defined as the economic activity associated with the invention, development, production, and use of primarily bio-based products, bio-based production processes and/or biotechnology based intellectual property. The bio-economy includes the use of resources from agriculture, forestry, fisheries/aquaculture, organic waste, and aquatic biomass. The field is multidisciplinary in that it cuts across bio-health, bio-energy, bio-agriculture (agri-bio), and bio-industrial (chemicals and materials) sub-sectors. These four sub-sectors are all rooted by their own foundations of Research and Development and all have products, process or intellectual property that are involved in the “green” or sustainable development economy as well, to a greater or lesser extent. The bio-economy sub-sectors share a common objective: the commercialization of resultant bio-products, processes and/or intellectual property. BioTalent Canada’s vision is that the Canadian bio-economy is people focused, a career of choice and a key driver of the Canadian economy.

Subsectors

Bio-health

  • Medical cannabis
  • Medical Devices
  • Biopharmaceuticals
  • Nutraceuticals
  • Natural-compound bioactives
  • Bio-molecules
  • eHealth/Artificial Intelligence

Bio-energy

  • Biodiesel
  • Ethanol
  • Methane
  • Bio-oil
  • Sustainable development

Bio-industrial

  • Biocatalyst
  • Biosolvents
  • Bioplastics
  • Biocoatings
  • Bioadhesives

Agri-biotech

  • Agri-fibre composites
  • Animal Genetics
  • Plant Genetics
  • Livestock Vaccines
  • Animal Nutritional Supplements
  • Functional Foods

Bio HR facts

  • The vast majority (80.7%) of companies have fewer than fifty Full Time Employees
  • The single greatest challenge to product and service development reported is limited access to capital

For more details and facts about Canada’s bio-economy see BioTalent Canada’s labour market information reports.