Significance of Bioentrepreneurship

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Author(s): Diksha Kumari (Banasthali University, India)
Copyright: 2021
Pages: 17
Source title: Bioentrepreneurship and Transferring Technology Into Product Development
Source Author(s)/Editor(s): Swati Agarwal (Banasthali University, India), Sonu Kumari (Banasthali University, India)and Suphiya Khan (Banasthali University, India)
DOI: 10.4018/978-1-7998-7411-9.ch002

Keywords: Business & Management / Business Science Reference / Entrepreneurship / Entrepreneurship & Innovation

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Abstract

Since the age of civilization, humans have been using products based on biotechnology, and these products have become part of our daily lives. The entrepreneur is the driving force of any organization. Biotechnology entrepreneurship is the alliance of two disciplines, business and science. Biotechnology-related business is aimed to commercialize the bio-products as well as enhance the research to benefit the human race. Firstly, bio-entrepreneurship has the potential to develop new techniques to protect the environment from diseases, fuel production, feed the hungry, and various other product preparations. Hence, these products provide new and better ways with minimum side effects to detect, cure, and prevent harmful diseases. Secondly, these bio-based products including biofuels and renewable chemicals are targeted to grow from approximately $203.3 billion in 2015 to $487 billion by 2024.

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Significance of Bioentrepreneurship

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