Academic Entrepreneurship and Scientific Innovation in Context of Bio-economy Strategy

Abstract Innovation has been placed in the center of the EU 2020strategyfor growth andjobcreation. Member States are encouragedto investin research and developmentin 2020(1% ofpublic funds, 2% of private investments), which is estimated to generate 3.7 million jobs and would lead to annual increase EU GDP by about 800 billion euro. Europeanbio-economystrategiesdirectinginnovationeffortstowardssolving the main current challenges: energy, food security, climate change, etc. The public sectorwill be usedto stimulatethe private sector andremove bottleneckswhich preventideasreach the market, including lack of capital, fragmented research systems and markets. Currently, there are two main theoretical approaches entrepreneurial university: addressing broader conception of the university as a producer for intellectual and social capital in society and then arrow perspective on the optimization commercialize university research and financing function. This paper explores the relationship between bio-economy strategy and the scientific innovation to promote entrepreneurial activity.