Biobusiness introduction Flashcards

1
Q

What is the definition of biobusiness?

A

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)

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2
Q

What is research commercialization?

A

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.

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3
Q

What does commercialization result in?

A

A wider choice of products for customers and companies who are able to generate more revenue, increase their efficiency, and reduce their cost.

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4
Q

Why is research commercialization such a critical process?

A

It entails making strategic and tactical decisions. They affect the success of a product and a company in general.

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5
Q

What are the four steps that turn research into a commercial product?

A
  1. Disclose it (talk about your discovery)
  2. Assess it
  3. Protect it
  4. License it
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6
Q

What is Innovation Exchange Amsterdam (IXA)?

A

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.

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7
Q

What can help bring innovative new treatments to market faster?

A

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.

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8
Q

What are reasons why academia should collaborate with the industry?

A
  • Better potential for societal impact
  • Better sutdent opportunities and outcomes
  • Increased funding
  • Economic developmental potential
  • Utitlize government programs for funding
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