18.1 Definition of Bioeconomy by Singapore

Singapore’s National Research Foundation (NRF): The NRF defines Singapore’s bioeconomy as a sustainable economic model that leverages biological resources and processes to provide solutions for various sectors, including agriculture, healthcare, and the environment. It aims to drive economic growth through innovation and bio-based technologies. Singapore Economic Development Board (EDB): The EDB defines Singapore’s bioeconomy as a strategic initiative that seeks to harness the potential of biotechnology, life sciences, and related sectors to create economic value and enhance the quality of life for its citizens.