Bioentrepreneurship in Medical Biotechnology

Abstract

Being a developing sector, biotechnology combines both medical science and various facets of a sustainable environment. Scientific innovations from academics and industry contribute towards the rise of bioentrepreneurship across the world. Medical biotechnology helps the treatment and prevention of human diseases by using living cells and cell materials to research and produce pharmaceutical and diagnostic products. It requires incubation of research, product, and its yield for the improvement of humans to transform medical research into an entrepreneurial industry. Biotechnology provides an opportunity for entrepreneurs to harness the power of genomics for the development and marketing of new therapeutics. These opportunities allow entrepreneurs to visualize the creation of both disruptive business and disruptive technologies for today's business models. This chapter will summarize multiple features of entrepreneurship in the biotechnology industry in combination with other industries and will explain the significance of bio-entrepreneurship in the field of medical biotechnology.