- BioBusiness refers to commercial activity based on an understanding of life sciences and life science processes.
- We covered these aspects of BioBusiness today:
o Biomedical BioBusiness
o Environmental and Industrial BioBusiness
o Agri-Veterinary and Food BioBusiness
- Valley and Summit opportunities. Valley: low value-added agriculture; Summit: new innovations like cures for HIV, cloning technology, etc.
- Healthcare- in the past, it was more corrective than pro-active or preventive. Pre-emptive medicine for people at risk, which can reap huge revenue.
Interesting observations & ideas:
- BioBusiness constitutes over 25% of global GDP! It employs 40% of the world’s labour force
-> Still low value-added; valley opportunities instead of summit opportunities
- Biotechnology has a very broad definition. Traditional biotech would include making beer!
- The Obesity Pandemic – symbolic how technology has destroyed our health and well-being.
- BioBusiness may include cosmetics as well. Prostitution as well, possibly?
Issues for further discussion:
- “We wont stop being sick until we stop making ourselves sick.” The less we depend on drugs, the more motivated we are to keep healthy.
- Abuse of BioBusiness: Doping among athletes, abusing human rights in biomedical testing.
- Ethical issues – Where should we draw the line, and how would we do that?
Key takeaways:
- The healthcare industry has significant barriers to entry: both specialized knowledge and high costs.
- BioBusiness may well be our best hope for achieving sustainable development, as it deals with life. Life in the broad sense- of humans, animals and plants.
My ratings for this lesson:
8.5/10. I found the various presentations interesting and insightful. I also liked the ethical debates! However I wish there was more time for discussion and exploration of other related issues, for example how the abuse of BioBusiness can be regulated.
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