Basic needs of a bio-entrepreneur.

1. CONCEPTS OF BIO-ENTREPRENEUR

2. INTRODUCTION:
• Creation of new enterprise.
• Knowledge based and science based industry.
• Bioentrepreneur – scientist/researcher turned entrepreneur who exhibits their research into commercialization.
ESSENTIAL ELEMENTS:
• Opportunity recognition.
• Market knowledge.
• Product knowledge.
• The desire and ability to innovate.
• The ability to assemble and effectively employ resources.
• Risk taking.

3. FEATURES OF IT AND BIOTECHNOLOGY:

4. WHO CAN BE A BIOENTREPRENEUR?
• Four backgrounds of Biotechnology entrepreneurs:
Scientist/Physician/Bioengineer from an academic institution.
Scientist/Physician/Bioengineer within the life science industry.
Business person.
A core group of individuals.

6. FORMULATION OF PRODUCTS:
• Creativity.
• New and novel ideas.
• Survival of the product.
BENEFITS OFA NEW PRODUCT:
• First to market.
• Launched faster than the competitors.
• Eliminating non productive internal discussions.
• Improving company’s teamwork.

7. PROCESS:
An imaginary example for new product development.
“Pure yeast culture fermentation of cocoa ( Theobroma cacao L) :- Effect on yield of sweating
and cocoa bean quality.”
Innovation
Market research
Concept testing
Product sample
development and testing
Statistical analysis
Market testing Pricing Commercialization Product launch

8. MARKETING
• Art and science.
• Technique of selling and promoting.
QUESTIONS ON MARKET RESEARCH:
• Is there a general market opportunity for your product?
• Who is your potential target market?
• What is the total market size?
• What are the needs?
• What are your competitors strength and weakness?
ASSESSMENT TOOL FOR MARKETING:
• Targeting.
• Positioning.
• Branding.
• Example of the effect of a brand.

9. MARKET STRATEGY:
• To determine a potential market size.
• Identifying and defining the target market segment.
• Describing the product’s value.
• Identifying the best market channel.
• Validating market strategies.
SOURCES OF FINANCE:
• Grants.
• Private investors.
• Angel investors.
• Venture capitalists.
• Bank loans.
• Going public.

10. INSTITUTIONS SUPPORTING SMALL SCALE INDUSTRIES IN INDIA:
There are several institutions supporting small scale industries. Some of them are:
• District industrial centre.
• Small industries development corporation.
• Small industries service institutes.
• Small and medium scale enterprises.

11. FUNDING FROM BIRAC:
• Biotechnology industry research assistance council.
• Significant source of funding.
The various innovation programs of BIRAC are:
• Biotech ignition grant.
• Small business innovation research initiative.
• Biotechnology industry partnership program.
• Contact research scheme.

13. CONCLUSION:

14. REFERENCES:
• Craig Shimasaki, “Biotechnology Entrepreneurship – Starting, Managing and leading Biotech Companies”, 2014,
Elseiver.
• Damian Hine, John Kapeleris, “Innovation and Entrepreneurship in Biotechnology, An InternationalPerspective –
Concept, Theories and Cases”, 2006, Library of Congress Cataloging in Publication Data.
• www.businessmanagementideas.com/industries/small-scale-industries/institutions-supporting- small-scale-industries-
in-india/19913
• Buamah, R., V.P. & Oldham J.H. (1997). Pure yeast culture fermentation of cocoa (Theobroma cacao L): effect on
yield of sweatings and cocoa bean quality. World Journal of Microbiology and Biotechnology, 13(4), pp.457-462.
• http://bioplanassociates.com/new-product-development/
• https://www.thebalancesmb.com/top-suggestion-forfinancing-a-startup-375549.
• http://www.slideshare.net/manojreddy/institutional-support?from-m-app=android.
• Make in India for Biotech the way forward September 2016 © BIRAC.