Biobusiness introduction Flashcards
What is the definition of biobusiness?
A commercial activity based on an understanding of life sciences and life science processes:
- biomedical (incl. healthcare, pharmaceuticals, medical devices, diagnostics, etc.)
- agri-veterinary and food
- environmental/industrial
- related areas (bioinformatics/computational biology)
What is research commercialization?
Refers to the process through which ideas or research are transformed into marketable products, capital gains, income from licenses and/or revenue from the sale of new product.
What does commercialization result in?
A wider choice of products for customers and companies who are able to generate more revenue, increase their efficiency, and reduce their cost.
Why is research commercialization such a critical process?
It entails making strategic and tactical decisions. They affect the success of a product and a company in general.
What are the four steps that turn research into a commercial product?
- Disclose it (talk about your discovery)
- Assess it
- Protect it
- License it
What is Innovation Exchange Amsterdam (IXA)?
IXA helps drive the transition of academic and practice-based research and knowledge into ground-breaking innovations and applications that improve lives, transform industries and create substantiel societal and economic value.
What can help bring innovative new treatments to market faster?
Boosting collaborative and licensing efforts between universities and pharma companies.
- The academic culture encourages openness; researchers are motivated to share and publish new findings.
- In contrast, corporate culture is more guarded, where innovations are monetized.
What are reasons why academia should collaborate with the industry?
- Better potential for societal impact
- Better sutdent opportunities and outcomes
- Increased funding
- Economic developmental potential
- Utitlize government programs for funding
