Are you planning to venture on business opportunities in the biotechnology industry? Do you want to start a small business because you are a professional in biotechnology? This article lists 10 most lucrative business owner advice and opportunities in the biotechnology industry for professionals and new entrepreneurs.
Production of Biodiesel
Anyone can start a bio-diesel production unit anywhere as a small-scale business with a brand marketing strategy. The thing is, you’ll need to choose a good location, specifically where the main raw material (Jatropha oil) can easily be obtained. Due to the rate of the depletion of fossils, there is an ongoing search for renewable sources of fuels. Fundamentally, the word biofuel is used to explain fuels that can be taken from animals or plants. It is getting a lot of attention around the world today because it is a renewable source.
In the native tropical America and mostly throughout India, Jatropha Curcus can be found. It is a large shrub measuring 3 to 4 meters. Its kernel produces 46 to 58 percent oil which is 30 to 40 percent seed weight. On etherification, the oil (generally called Circus oil) becomes biodiesel. It can be blended with high-speed diesel 20 to 80 percent by volume. The government of India has adopted a policy which is transesterified Jatropha oil blended with diesel. Several universities and institutes have developed the transesterification procedure of biodiesel production. The great thing about it is the process is not difficult.
An agriclinic’s primary objective is to provide paid services for the augmentation of agriculture production as well as the income of farmers. Having an agriclinic business that is legitimate can absolutely be profitable. In fact, the agriculture industry is the most profitable sector in India. In farm output, India ranks second worldwide. Aside from that, the broadest economic sector demographically is agriculture. In general, it plays an important role in the socio-economic structure of India.
The government of India in collaboration with NABARD has initiated a system on agriclinic business. Additionally, anyone who has a degree in agriculture can avail this scheme. Access to a two-month training class is absolutely free of charge. The scheme can be very lucrative for the agriculture entrepreneurs in the country.
Biopesticides are products used to protect plants containing BCA or Biological Control Agents as microbial. It also has plant extracts and pheromones. They are characteristically used together with conventional chemical pesticides in the structure of the Pest Integrated Management in order to protect the plant growth, the roots, quality of the crop, and reduction of occurrence of resistance, and to lower residue levels.
A type of fertilizer containing living organisms is called biofertilizer. These days the industry is very promising in India. For sustainable agriculture and organic farming, biofertilizer is an essential item. Using biofertilizer helps reduce the chemical fertilizer application. Aside from that, it not just enhances crop growth and harvest but also develops soil health and sustains soil fertility. Aside from this being one of the most profitable businesses in the agriculture industry, anyone can start it anywhere; there is no specific location needed. The solutions for your business, however, will demand a hefty investment at startup. Starting this type of business means you will need to set up an operational laboratory and production unit.
Production of Compost Fertilizer
Compost or organic fertilizer is one of the most essential agricultural inputs. Organic fertilizer connotes substances invented with one or more unprocessed materials of plants or animals. It can include unprocessed mineral materials that have been reformed through microbiological decomposition process.
According to the Fertilizer Control Order (FCO), there are three varieties of organic fertilizers that can be made and sold. Nevertheless, there are correct specifications and conditions that need to be maintained because the fertilizer industry is highly regulated by the government of India. Aside from that, there are licenses that need to be obtained from the concerned departments.
Manufacturing Specialty Medicine
If a product contains a substance or any combination of substances specifically created for treating or preventing diseases in human beings, it is classified as a medicinal product. If it is primarily used to administer to human beings with the aim to restore, correct, or modify physiological functions as well as make a diagnosis it is also considered a medicinal product.
Creation of Vaccine
To develop a vaccine, there are three different way to use biotechnology. These are synthesis of an antigen with the assistance of a clone gene, separation of a pure antigen using a specific monoclonal antibody, and synthesis of peptides to be used as vaccines. To start in a small scale, this business will need substantial capital investment and brand marketing.
By utilizing naturally occurring microorganisms like moulds, yeasts, enzymes, and bacteria, we can create better food in a healthier way. The biotechnology industry has a prospective positive impact on modern food processing. Enzymes can replace synthetic chemicals in numerous processes as well as perform the role as alternatives to traditional chemical-based technology. Through lower energy biodegradability and consumption, there can be real advances in the environmental performance of production processes.
Production of Vermicompost
“Organic wastes” make up a considerable portion of solid waste and these are biodegradable. Furthermore, the waste can be converted into a highly “nutritive biofertilizer” which is 4 to 5 times more powerful than conventional composts. Sometimes, they are even considered superior to chemical fertilizers for safe food production and better crop growth. This business can be very profitable and you can start it with a small capital investment.