The Us Bioeconomy Is Worth $950 Billion, and Growing, Thanks to These Federal Policies

The White House is ramping up its push into the bioeconomy, which it says is worth $950 billion and growing quickly.

The White House's Office of Science & Technology Policy has created the Bioindustrial Manufacturing Innovation Institute, or BioMADE, which is "focused on really helping the United States gain and expand a foothold in the manufacturing of chemicals, materials, and other products outside of the healthcare universe, using biology and biological systems," an adviser to the Office of Science & Technology Policy tells GreenBiz.

Examples of bio-based products include everything from biofuels to biobased plastics.

"Biotechnology...

is pushing on 40 years as an industry," the adviser says.

"Today, the US is valued at over $950 billion."

The bioeconomy includes agricultural biotech, biobased products, and petroleum-alternatives.

Another major sector is agriculture.

Biotech crops are helping farmers reduce their soil, reduce pesticide applications, and increase crop yields per acre with the same or fewer inputs.

In France, Michelin and IFPEN unveiled an industrial-scale facility to produce biobased butadiene, a main ingredient in rubber.

The facility can produce about 20 to 30 metric tons of biobased butadiene a year, a number on its own woefully inadequate to make a tangible Read the Entire Article


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Co-founders William Mann and David Mravyan devised the Sensimat during a mandatory project for their MBA at the Richard Ivey School of Business in Canada. Sensimat is a device that helps manage and assess pressure among wheelchair users.