Managing Biotechnology Innovation: Challenges and Opportunities for Startups and Small Companies

The biotechnology industry presents challenges for startups and small companies due to high costs and complex regulations but also offers opportunities for innovation and growth. Effective strategies for managing biotechnology innovation include partnerships, intellectual property development, digital technologies, customer engagement, and government funding. This paper explores these strategies and highlights the importance of agility and niche focus for success in the industry. By adopting these strategies, startups and small companies can compete in this dynamic and rapidly evolving field.