Biotechnopreneurship: A Resource for the Developing Countries

Abstract

Biotechnopreneurship is based upon the integration of two distinctly different disciplines—science and business and all the activities necessary to build an enterprise. Biotechnology enterprise creates, develops and ultimately commercializes a product only through integration of science and business disciplines. Biotechnology enterprises have created some of the most amazing life-saving drugs, medical devices, advanced fuels, and efficient crops. Biotechnopreneurship is a complex phenomenon with several intricacies which needs thorough research to identify conditions which are prevalent and can determine the successful development of enterprises at both national and regional level. A certain part of the research should focus on specific characteristics and profiles of bio-entrepreneurs who are the key players in the process of development. The two major areas capturing the attention of the world for intensive commercialisation are Industrial biotechnology and Medical biotechnology. There is large scope and need for entrepreneurs in this sector who can contribute remarkably to the people and society at large. This paper peaks into the topic to show the need of entrepreneurs in Biotechnology field, challenges faced in the sector and how it has the potential to bring about economic development.