Biotechnology: How to Start Biotechnology Business in Singapore

Biotechnology uses living organisms in a biological system for product applications. The systems encompass different science disciplines such as gene technology, genomics and immunology. The science is related to other fields such as bio-manufacturing, bioengineering, molecular engineer and molecular biology.

The technology is applicable to the development of pharmaceutical drugs and food production. They use tissue culture, artificial selection, genetic engineering to achieve their product. The aim is to improve value in agriculture, consumables and medicine.

Biotechnology is based on research, test, development, exploitation, extraction technics that a biological.

Biotechnology in Singapore

Singapore has grown in recent years as a top location for biotechnology. This was achieved because of heavy investment in the sector by the Government. With an initial investment of 6 billion dollars and additional 16.1 billion the industry is well positioned for greater achievements.

World leading pharmaceutical companies have found a good partner in Asia. This has significantly increased employment and further investment in the sector. The industry has contributed a huge 5% GDP in 2011. 

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Key to Success

Key success of bio-technology in Singapore is inflow of foreign investment. Many small startup companies, research institutions and universities are benefiting from the foreign interest. Although public sector research funding is low, international scientists have on the increase.

Biotechnology Startups

The industry is driven by government, private and foreign investors. First private startup in Singapore is Lynk Biotechnologies. The company was funded with $2 million dollars seed money.

It was established by Professor Lee Chee of the National University of Singapore. One of its major achievements was in the field of cancer research. Some other notable companies are ES Cell International, PhytoProtein Biotech Pte Ltd and Biotech International Ltd.

Biotechnology Products

The technology is used in crop production, healthcare, non-food and agriculture. The technology is applicable to waste treatment and recycling. Others are biological weapons, degradable plastics, vegetable oil and pesticides.

It is used in the production of vaccines, antibiotics, beer making, development of hormones, antibodies. Other products include pharmaceutical drugs and to produce genetically modified crops.

Biotechnology Uses

•         Crop production

•         Healthcare

•         Non-food

•         Agriculture

•         Waste treatment

•         Recycling

•         Biological weapons

•         Degradable plastics

•         Vegetable oil

•         Pesticides

•         Production of vaccines

•         Antibiotics

•         Beer making

•         Development of hormones

•         Antibodies

•         Pharmaceutical drugs

•         Produce genetically modified crops

Funding

An investor interested in biotechnology requires huge funds. The funds could be sourced from grants, government subventions or angel investors. The person can approach a commercial bank, find a core investor.

•         Grants

•         Government subventions

•         Angel investors

•         Commercial bank

•         Core investor

Team

The team should consist of bio technologists, industrial professionals and international scientists. Others are academic scientists, business investors and young scientists. Other staff requirements are marketing, accounting and finance professionals.

•         Bio technologists

•         Industrial professionals

•         International scientists

•         Academic scientists

•         Business investors

•         Young scientists

•         Marketing

•         Accounting

•         Finance professionals

Write a Business Plan

The first step is to write a business plan and carry out a feasibility study. The plan should focus on business structure, funding, growth potential and equipment.

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Legal

There are patent laws, incorporation and business name registration. Others are tax, liability and health insurance. There are also safety protocols, bio-hazard laws and guidelines. It is important to have ready to use intellectual property license.

•         Patent laws

•         Limited Liability Company

•         Business name

•         Tax

•         Liability and health insurance

•         Safety protocols

•         Bio-hazard laws

•         Intellectual property license

•         Zoning

Marketing

Products that pass extensive testing are scalable. The product will determine the type of marketing.Owning your own swim business