This is the era of globalization where modernization in all sectors is essential due to social changes and the continuous demand for a quality life. It is the duty and moral obligation of all industries to help provide a better way of life to those who are less fortunate and require their help. In such conditions, one needs to be resourceful, altruistic, have the qualities of a businessman and have a scientific vision. Biotechnology as such is a field that can contribute to various people in terms of money, as well as their inventions. This industry has grown monumentally over the years and has helped people find hope and restore their faith in humanity with its applications in the fields of genetics, agriculture, food, medicine and care. medical.

Biotechnology and social entrepreneurship can go hand in hand. For example, by offering better healthcare options at lower costs, consumers are motivated to opt for biotech products. In this way, biotech organizations can help low-income communities towards better health and, by purchasing their products, consumers are indirectly promoting the company’s brand. The creation of employment opportunities, intellectual wealth and expansion of industrial growth are some of the absorbing factors that guarantee a focused approach for this sector, resulting in an overall benefit for the society.

Scientific entrepreneurs often lack managerial skills, industry experience, and contacts, even if they have members with administrative backgrounds; therein lies a critical area that requires some work. Solutions to certain social problems, such as improving the quality of health, economic, political and cultural problems in reference to poverty, often require fundamental transformations in the political, economic and social systems. A social entrepreneur brings change to the social system by using his job and business to address that cause. These clever creatives represent social entrepreneurship. Therefore, it can be stated that the network-building approaches that biotech companies observe with respect to social entrepreneurship will combine archetypal behavioral traits of biotech entrepreneurs and include other characteristics that respond to the conditions found in their particular environment.

An excellent management team can provide the skills necessary for the management and coordination of scientific and business operations, and can also help maintain a good reputation in the organization. A key area in which social entrepreneurs play a critical role is the commercialization of research results from the biotech industry, thus ensuring sustainable growth. A local innovation system that works with respect to the connections between companies and knowledge organizations can be the stimulus for this implementation.

For example, Juan David and Alicia Carpio launched Q’omer Bioactive Ingredients, a technology-based social enterprise. They witnessed the condition of people with respect to their farms and unfair labor treatment in Peru, for which they designed a sustainable and socially responsible way of working with resources in Latin America. They offer raw materials and ingredients to produce organic products and improve people’s well-being while promoting the economic and social sustainability of Latin American producers. This is just one example, but with each passing year, more and more biotech companies are taking the lead to promote social entrepreneurship and contribute to diverse societies by providing scholarships, funding, and research options in the field of science.