Entrepreneurship is based on entrepreneurial opportunities, and the bioeconomy offers a plethora of such opportunities. By acting upon such opportunities, entrepreneurs make an important contribution to the bioeconomy transition. As the bioeconomy—to a large extent—addresses humanity’s greatest challenges, it consequently offers the greatest entrepreneurial opportunities as well. One useful tool to break down the idea generation process and manage the entrepreneurial process is the business model canvas, which makes it possible to clearly describe the value proposition of a new venture in the bioeconomy. The lean startup approach can help entrepreneurs in the bioeconomy to move efficiently through the entrepreneurial process and to quickly develop a value proposition and a validated business model.