The leaping growth of the biotech sector in recent decades has been supported by hopes that the technology can revolutionize pharmaceutical drug research and let loose an avalanche of money-making new medications. But with the sector’s market meant for intellectual home fueling the proliferation of start-up organizations, and large medication companies ever more relying on partnerships and collaborations with small firms to fill out all their pipelines, a significant question is normally emerging: Can your industry make it through as it advances?
Biotechnology encompasses a wide range of fields, from the cloning of DNA to the progress complex medicines that manipulate cells and neurological molecules. Some technologies will be extremely complicated and risky to get to market. Nevertheless that hasn’t stopped thousands of start-ups out of being produced and appealing to billions of us dollars in capital from buyers.
Many of the most good ideas are originating from universities, which will certificate technologies to young biotech firms in exchange for collateral stakes. These start-ups then move on to develop and test them, often through the help of university labs. In many instances, the founders of the young companies are professors (many of them internationally known biotech worldwide scientists) who made the technology they’re employing in their startup companies.
But while the biotech program may offer a vehicle just for generating innovation, it also creates islands of experience that prevent the sharing and learning of critical expertise. And the system’s insistence upon monetizing obvious rights more than short time durations doesn’t allow a firm to learn from experience while that progresses through the long R&D process necessary to make a breakthrough.