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Are bio-economy dimensions new stream of the knowledge economy?

Elsadig Musa Ahmed (Faculty of Business, Multimedia University, Melaka, Malaysia)

World Journal of Science, Technology and Sustainable Development

ISSN: 2042-5945

Article publication date: 3 April 2018

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Abstract

Purpose

The purpose of this paper is to explain bio-economy dimensions as a new stream of knowledge-based economy that exists in the new era of the information and communications technology.

Design/methodology/approach

Bio-economy refers to the production of a wide range of goods and services from plant, animal and forest-based material. It is more than just grain-based bio-fuels or bio-diesel as extensively highlighted in Latin America. It is related to biotechnology and other bio-activities based on knowledge generated from the bio-activities and extension of the knowledge-based economy.

Findings

The main concern of developing bio-economy is the environmental damage caused through the undesirable output produced by the bio-economy activities. Bio-economy is centred on research and development (R&D) collaborations across different sectors, including the public and private sectors, in order to breakthrough new products through invention and innovation.

Originality/value

For bio-economy to be realised and put into practice, it should have a well-developed regulatory framework as a platform in order to run and work smoothly.

Keywords

Citation

Ahmed, E.M. (2018), "Are bio-economy dimensions new stream of the knowledge economy?", World Journal of Science, Technology and Sustainable Development, Vol. 15 No. 2, pp. 142-155. https://doi.org/10.1108/WJSTSD-06-2017-0014

Publisher

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Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited