Biotechnological research is promoted through the development of 'Biotechnology Parks'. Which of the following is/are essential to bring technology to market? 1. Development of new product 2. Entrepreneurship 3. Technology incubation Select the answer usi

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Q: 16 (CAPF/2024)
Biotechnological research is promoted through the development of 'Biotechnology Parks'. Which of the following is/are essential to bring technology to market?
1. Development of new product
2. Entrepreneurship
3. Technology incubation
Select the answer using the code given below:

question_subject: 

Science & Technology

question_exam: 

CAPF

Biotechnology parks are designed to support the commercialization of scientific discoveries by fostering an environment conducive to innovation. This involves the development of new products, which is the core of bringing new technology to market. Entrepreneurship is crucial as it drives the business aspect, turning scientific innovations into viable market products. Technology incubation provides the necessary support and resources to nurture early-stage innovations until they are ready for commercialization. Therefore, all three elements—development of new products, entrepreneurship, and technology incubation—are essential in bringing biotechnology to market.