We introduce the decision problem BICOLORED INDEPENDENT SET which generalizes the well-known NP-complete graph problem INDEPENDENT SET. We present an O(1.2691(n)) time algorithm solving its counting analogue #BICOLORED INDEPENDENT SET. We show how to use this algorithm to establish algorithms solving biclique counting problems and provide an O(1.2691(n)) time algorithm solving *BIPARTITE BICLIQUE and an O(1.6107(n)) time algorithm solving #NON-INDUCED BICLIQUE. (C) 2012 Elsevier B.V. All rights reserved.