The aim of this study is to evaluate instruments to support research and innovation in the bio-economy in the European Union. The paper discusses the instruments available under the Framework Programme for Research and Innovation Horizon 2020. Attention was also drawn to the mechanism of public-private partnership under the name Bio-based Industries Joint Undertaking. According to the results, the total amount of funds for projects aimed at research and innovation in the bio-economy is one of the most important item in the budget of Horizon 2020 - over 15.3 billion euro, representing almost 20% of the total budget, has been allocated to support bioeconomy. The Bio-based Industries Joint Undertaking is supposed to contribute to the development of sustainable, low-carbon economy and increase in economic growth and employment, particularly in rural areas.