Start-Up and Management Features in Biotech Business

Abstract

The start-up of new businesses is strongly influenced by the features of the economic environment, the diversity of business opportunities, the variety and availability of funding sources, and finally the available resources and economic and institutional infrastructure. As in any field, starting a business in biotech involves several steps. From this point of view, we mention that there are no significant differences in this area compared to other fields of activity. We do, however, have to say that the entrepreneurial process in biotech presents several specific elements that every investor must consider. Thus, the innovative feature of any biotechnology approach is crucial to the development of a successful business. At the same time, if the managerial process is the one applied to all types of business, in biotech it must consider the types of strategies that can be applied, the technological level, or the types of partnerships that can be established. Therefore, a further clarification of the elements of the entrepreneurial process in biotech is always useful and necessary.