BIOTECHNOLOGY FOR ENTREPRENEURSHIP

Course Teacher:
Dr.R.Kalaivani, Assistant Professor
Department of Biotechnology,
Bon Secours College for Women,
Thanjavur-613 006

COURSE OBJECTIVES:
 Introduce the concept of
entrepreneurship, method of
project conceptualization
 Assessment strategies for
projects and generating funds
from agencies
 Understand the
biotechnology-based
entrepreneurship resources
COURSE OUTCOMES: On the Successful
Completion of the course, the students will be able
to:
 Understand the concept of bio-
entrepreneurship.
 Gain the knowledge of writing projects and
fund generation.
 Design projects independently and understand
the importance of bioenterprises
 Learn the support of government for
entrepreneurship
 Face the challenges related to start ups
UNIT – I INTRODUCTION TO ENTREPRENEURSHIP: Introduction to bio-business, Indian context, SWOT analysis of
biobusiness. Ownership, Development of Entrepreneurship; Stages in the entrepreneurial process; Role of
entrepreneurs in Economic Development; Entrepreneurship in India; Entrepreneurship – its barriers. Small scale
industries: Definition; Characteristics; Need and rationale.
The word originally is derived from a French verb
“Entrenprendre” means ‘to undertake’.

Historical view….
 During the ancient period the word entrepreneur was used to refer to a person
managing large commercial projects through the resources provided to him.
 In the 18th Century the first theory of entrepreneur has been developed by Richard
Cantillon. He said that an entrepreneur is a risk taker.

 18th Century is the differentiation of the entrepreneurial role from capital providing
role.
 In the late 19th and early 20th Century an entrepreneur was viewed from economic
perspectives. The entrepreneur organizes and operates an enterprise for personal
gain.
4

In the middle of the 20th and early 21th Century the notion of an
entrepreneur as an inventor was established.

?????? Entrepreneur & Entrepreneurship

□Entrepreneurship, like an entrepreneur, has no single definition.
□Entrepreneur is a person while entrepreneurship is a process.
□Entrepreneurship is a process under taken by an entrepreneur to create incremental value
and wealth by discovering investment opportunities, organizing enterprises, undertaking
risks and economic uncertainty and there by contributing to economic growth.
 DEFINITION
Raymond W.Y. Kao : Entrepreneurship is the process of doing S
something new and something different for the purpose of
creating wealth for the individual and adding value to society.
Richard Cantillon : Entrepreneurship as self employment of any
kind and entrepreneurs as non fixed income wage earners and
risk takers.
Drucker: Entrepreneurship means creation of new business and
anyone who manages to establish a new business is an
entrepreneur outright.
GEM : Global Entrepreneurship Monitor defines
entrepreneurship as creation of new business or any attempt to
do it/ expansion of existing one, new business organization, or
established businesses .
Hisrich : Entrepreneur is the person who demonstrates
initiative and creative thinking.

6
❑ Frank H Knight (1921) and Peter Drucker (1970) Entrepreneurship as all
about risk taking business.
 Schumpeter,1965: “Entrepreneur as an individual who can exploit Continue…..
market opportunities through technical and/or organizational
innovation”
❑ Shane and Vankataraman (2000) Entrepreneurship involves the study of
sources of opportunities; the processes of discovery, evaluation, and
exploitation of opportunities; and the set of individuals who discover,
evaluate, and exploit them”.
❑ Kirzner (1973) Entrepreneur as “The person who recognizes and acts
upon profit opportunities, essentially an arbitrageur”.

“The concept of entrepreneurship generally refers to enterprising individuals who display the readiness to
take risks with new or innovative ideas to generate new products or services.”

OECD Economic Survey in 1997, it was defined as “the dynamic process of identifying economic
opportunities and acting upon them by developing, producing and selling goods and services”.

7
 Entrepreneur/ship,
An entrepreneur is a person who is action oriented, highly motivated, takes
risks to achieve goals
An entrepreneur is a person who establishes his own business with the
intention of making profits
An entrepreneur is a person who only provides capital without taking
active part in the leading role in an enterprise.
An entrepreneur is a one who innovates, raise money, assemble input,
choose managers and set the organization growing.

Conclusion
1. Entrepreneurship involves creation or expansion of business.
2. Risk taking or acceptance of failure
3. Talent to identify and exploit new opportunities to produce new products or
processes/markets.

8
? Bio-Business

• Goal: Unleashing the guarantee of Biotechnology to

Help, Heal, Fuel, and Feed the World
• Health Biotechnology: Helping to Save and Extend Lives
• Food and Agricultural Biotechnology: Helping to Feed the
World
• Industrial and Environmental Biotechnology: A Better Way
to Make Things

Bio entrepreneurship is the right path for you! As Steve
Jobs once said, “I think the biggest innovations of the
21st century will be at the intersection of biology and
technology. A new era is beginning, just like the digital
one.”
There are considered to be FOUR distinct areas of
biotechnology:
Red : Biomedical, medical and human health (and
animal health)
Green : Agricultural biotechnology
White : Industrial biotechnology
Blue: Marine biotechnology
What is Bioentrepreneurship??

 Bioentrepreneurship is the integration of two different disciplines Science (bio) and

Entrepreneurship. Biotech entrepreneurship is entirely academia-powered. It is the flow of
innovation from academia to industry.
 It can also be defined as ‘the use of biological entities or any idea, related to sciences to acquire
profit and establish a business.’
 Bioentrepreneurship is the sum of all activities necessary to build an enterprise that creates, build
and commercializes the biotech products.
 Terms referring are….. BioE or science entrepreneurship or bioscience enterprise. Also, others
include; life science entrepreneurship, entrepreneurship in biotechnology or biotechnology
enterprise.
 Why Bioentrepreneurship?
 Today, biotech based products, mainly products out of scientific research are part of
our daily life. The biotech field leads to real-outcomes that allow the production of
advanced technologies and products. Also, help to preserve the environment,
encounter diseases, new biomedical devices, eliminate hungry, bio-fabric and bio fuel
production and more.
 A researcher usually starts a business based on biotech.
 That’s why a bio-entrepreneur has a lot of data, and more knowledge about its product
makes it easier to identify and solve problems.
 A scientist develops an idea, invent something and then share it with the world, a for-
profit in return.
 In this way, not only the world and society getting benefit from that invention. But
also, the inventor itself gets a reward for his/her hard work.
 It encompasses the realization of ideas and concepts that arise from biology and other
science fields. Also, further implementing them into prospective business plans and
startups. That was the reason behind the creation of bio entrepreneurship.
 Significance
Humans is using Biotechnology-based products of Bioentrepreneurship
since the dawn of civilization. Our
today’s products are not less than miracles for our ancestors. The reality is that these
products are based on their knowledge and our scientific research. Today,
biotechnology-based products are the part of our daily life.
Potential of Heal, Feed, and Fuel
Biotechnology has enabled the creation of breakthrough products and technologies to
combat disease, protect the environment, feed the hungry, produce fuels, and make other
useful products.
Helping Save and Extend Lives
Biotechnology product developments are transforming the practice of medicine and
providing new and better ways to detect, treat, and prevent disease. These products
provide targeted treatments to minimize health risks and side-effects for individual
patients. Biotechnology tools and techniques open new research avenues for discovering
how healthy bodies work and what goes wrong when problems arise.
 Better Ways to Protect
Industrial biotechnology is one of the most promising new Environment
approaches to help meet the global challenges of preventing
pollution, conserving energy and natural resources, and reducing
manufacturing costs. The application of biotechnology to industrial
processes is transforming how we produce existing products and
helping to generate new products that were not even imagined a
few years ago.

Industrial biotechnology uses natural biological processes, such as

fermentation and the harnessing of enzymes, yeasts, and microbes
as microscopic manufacturing plants, to produce useful products.

Among the products being made with industrial biotechnology are biodegradable plastics, renewable
chemicals, energy-saving low-temperature detergents, pollution-eating bacteria, multi vitamins, and
biofuels. With the growing adoption of industrial biotech, we are in the early stages of an emerging biased
economy that meets some of the most important needs of our global civilization
INNOVATION
Technological and non-technological
Innovation
 Product and process Innovation
• Five Types of Innovation:
• 1. Introduction of a new commodity
• 2. Introduction of a new production method
• 3. Opening up of a new market
• 4. Change in the source of supply
• 5. Re-organization of an industry.
Product innovation can take two broad forms:
● Substantially new products: we call this ‘major product
innovation’
● Performance improvements to existing products: we call this
‘incremental product innovation’
 Food–covering food-borne illness, nutrition, and dietary
supplements.
 Drugs – prescription, over-the-counter, generic drugs
 Medical devices – such as pacemakers, contact lenses,
hearing aids Biologics – such as vaccines and blood products
In biotechnology and the pharmaceutical industry
the approval of New Molecular Entities (NMEs) by
the US Food and Drug Administration (FDA) are the
most visible form of major product innovation.
Animal feed and drugs – for livestock and pets
Cosmetics – safety, labeling
Radiation-emitting products – cell phones, lasers,
microwaves
Combination products – multi-category products
which may include
drugs and biologics as the move away from small
molecule pharmaceuticals
leads to more complex biologics in the drug
development process.
• Bioentrepreneurship is the integrated activity
Bioentrepreneurship..
that creates, develops and commercializes the
biotechnology product.
• Bioentrepreneurship is not shadowed by the
business risks but scientific risks are haunting
him.
• The aim of Biotechnology-based business is to
commercialize the research and deliver its
potential benefit to the human race.
• Simply, an entrepreneurial business based on the
Biotechnology is known as
Bioentrepreneurship.

It is the smoothest sailing of innovation from academia to

industry.
INDIAN
CONTEX
T
Assignment 1: top 10 successful
Biotechnology based Businesses

Date of Submission: 18.12.2023