Economic Aspects of Industrial Biotechnology.

Industrial biotechnology is a key tool in the switch from a petro-based to a bio-based economy. For biotechnological processes to compete competitively in cost with chemical synthesis, the best available state-of-the-art technologies are necessary. In the last few years, industrial biotechnology has undergone fast technological development, resulting in a high number of basic technologies emanating from research efforts at universities and research institutions. Academic spin-offs have great importance in technological development because of their innovation from academic backgrounds. Technology transfer through spin-offs can help significantly in translating research at European universities and research institutions into commercial applications. More business oriented and experienced people, similar to founding or business angels, should join such new ventures to achieve successful realization of technology transfer.