How Biotechnology Current Events Affect Your Business?

What is Biotechnology?

The world of biotechnology is complex, but in its simplest form, it is technology that is based on biology, and it is as old as humanity itself. When agriculturalist Karl Ereky coined the term in 1919, he described it as “all lines of work by which products are produced from raw materials with the aid of living things.” While we have used the biological processes of microorganisms for thousands of years to make useful food products, to preserve dairy products, and even for the pets we love, modern biotechnology develops technologies and products to help improve the lives and the health of people across the world. Through biotechnology, it is possible to combat debilitating and rare diseases, reduce climate change, feed the hungry, use less and cleaner energy, and have safer, cleaner, and more efficient industrial manufacturing processes.

Currently, there are more than 250 biotechnology health care products and vaccines available, many specifically for diseases that were once untreatable. Agricultural biotechnology allows more than 13 million farmers around the world to increase their crop yields, prevent damage from insects and pests, and reduce the impact that farming has on the environment. As climate change becomes more of an urgent matter, dozens and dozens of bio-refineries are being built across North America, and these can help reduce greenhouse gas emissions by developing and refining technology that produces biofuels and chemicals from renewable biomass.

While advances in biotechnology are helping prepare for and meet society’s most pressing challenges, biotechnology current events can also affect your business. Here’s how:

1. Greener Solutions

As the planet’s temperature continues to rise to an alarming level, there is a demand for stricter environmental policies and greener solutions. Think about all of the plastic that is in your home or office — these products are made from oil that can take hundreds of years to break down in a landfill. But thanks to biotechnology, new plastics made from corn and other plants are being developed, and your business could be at the forefront as an environmental global leader.

2. New Developments

Whether your business is in the healthcare industry, agriculture, manufacturing, or energy, biotechnology can lead to many new developments. As more and more advancements are made in terms of food, medicine, and fuels, it allows new products to be developed, which also results in industry growth. Think about all of the marketing and business development opportunities and the impact biotechnology will have on future employment rates as more and more roles will need to be filled. Biotechnology is introducing a whole new approach to industry development, and it has turned cities like Seattle, Berlin, Denmark, and Cambridge into international biotech hubs.

3. More Opportunities

Over the years, biotechnology has led to a rise in startups as more and more companies have been founded around the world to pursue this evolving market. Products and technologies that were once considered impossible are now being developed, and that has opened up a world of opportunities. Biotechnology has improved agriculture and food products by creating more convenient and new farming methods, which has futurized a rather traditional industry. These advances can provide financial savings that businesses can use to expand and grow.