Distinction between Biotechnology, Biomedical Industry and Software Industry

 

Important distinctions between Biotechnology, Biomedical Industry and Software Industry

  • Software industry is mostly concerned with meeting consumer / business needs with rapidly developed software. Biotechnology, Biomedical products are usually based upon years of research efforts.
  • Venture capital firms involved in Biotechnology, Biomedical industry keep close connection with Academic research partners & research labs.
  • With long term research & subsequently costly government approval process, Biotechnology, Biomedical industry products demand larger investment.