ABSTRACT
For more than 100 years, the biotechnology industry has evolved from basic biology and genetics research and development (R&D). The broad definition of biotechnology is that it encompasses the application of science and technology to living organisms in order to produce knowledge, goods, and services (OCDE, 2013), enables multi-billion dollar commercial companies acting in various sectors such as agriculture, human health, production of chemicals, materials, and energy. The increased importance of biotechnology has put it as a new techno-economic paradigm that will help drive the world economy and mitigate climate change (Tylecote, 2019).
