Entrepreneurship in Biotechnology

INTRODUCTION

From the last 50 years, the biotechnology firm or industry has been widely increased. The biotechnology sector has a considerable economic bounce. The biotechnology sector had almost 200 billion dollar revenue in 2009, which shows an annual growth rate of 10% of the 5 years (2005-2009). In the case of European biotechnology and US biotechnology has attracted attention for academic researchers as well as in policymakers. Biotechnological techniques have considerably targeted the research purpose and productivity in various industrial sectors. The biotechnology sector mainly indulges the pharmaceutical industries as well as in Research and Development sectors. In many cases, biotechnology industries fail to implement their techniques in big scale purposes. One reason for these
failures is that biotechnology is highly dynamic and competitive which brings the biotechnological products to release in the market is the most complex challenges. Many studies have aimed at managing biotechnological ventures and initiate the entrepreneurship outside the biotechnology industry. In this section, we summarize the definitions and concepts which are necessary for researchers in the era of biotechnology entrepreneurship.