This chapter presents key terms and concepts in the field of industrial biotechnology. The inclusion of examples, such as ethanol fermentation and production of polylactic acid (PLA) and propanediol (PDO), allows students to become acquainted with important concepts and their application. Industrial biotechnology, also known as “white biotechnology”, is devoted to the exploitation of living cells, such as yeasts, molds, bacteria and enzymes. In the context of a bioeconomy, it may provide methods to replace and complement petroleum-based synthetics. Industrial biotechnology has been identified as a key enabling technology. Nowadays, industrial biochemicals are mainly produced from carbon sources based on sucrose and glucose. In a future bioeconomy, lignocellulosic plant biomass could become a key feedstock. However, for this purpose, technologies are required that can break down lignocellulosic biomass more easily, with less energy input, and creating less waste than is presently the case. The rapid development of genetic, synthetic biology and bioprocessing methods will lead to biotechnology increasingly complementing chemical industries.