Biotechnology Entrepreneurship Introduction
During the last two decades of the 20th century (1980-2000), a large number of biotechnology companies came into existence. According to U.S. Biotechnology Industry Organization there were 1379 biotechnology companies in USA in 2001. Similarly, according Biotechnology Data Bank (BID) maintained at the University of Siena (Italy), there were 2104 biotechnology companies in Europe in the same year (2001).

Due to an anticipated growth of biotechnology industry, these companies both in USA and Europe also attracted huge investments in the stock market. However, while some of these companies achieved success, others met with failures and closures so that the profit making companies world-wide at the turn of the 20th century did not exceed 76 in number.

The chapter is based on three supplements of the journal Nature Biotechnology, brought out in July, 2001, July 2002 and July, 2003 under the title 'bioentrepreneur'. In these supplements, and therefore, also in this chapter, an effort has been made to provide guidance to those who are interested in starting and nurturing a biotechnology company, thus increasing at least marginally the chances of success and consequently also reducing the risk of losses in such a venture.

The guidance being supplied is based on the wisdom of those who have learnt the art of bioentrepreneurship, either the hard way by making mistakes themselves or else spent time observing others doing it. The chapter is included in this book with the hope that students of biotechnology who happen to be aspiring to become future entrepreneurs may derive some benefit from the experience of others, and may also find in this chapter other sources of knowledge and possible further training.