Generation of a Base Business Model for Biotechnology Companies

In recent years, the biotechnology industry has rapidly gained priority on many political, economic and industrial agendas in a myriad of countries. Today, the global biotechnology market is worth more than $281.7 billion dollars. In Mexico, the biotechnology industry is emerging and while countries such as Singapore, South Korea and India are beginning to form their industries at an accelerated pace, Mexico still lacks specific programs for the development of biotechnology. Therefore, Mexico and Baja California need to make changes in terms of industry development mechanisms. One of the key pillars for the drastic change required are the business models used by the industry since the right business models can redesign industries and boost their growth. Based on the above, the objective of this work was to generate a base business model for biotechnology companies in the state of Baja California. The findings showed that successful biotechnology companies present certain patterns in their business models.