Do you want to start a biotech related business but lack ideas? If YES, here are 50 best profitable biotechnology small business ideas & opportunities for 2020.
Biotechnology businesses are businesses that harness biological processes to come up with new products and equipment in areas like medicine, agriculture, food production and environmental protection.
These businesses are getting all the attention and a lot of funding from angel investors and grants from the government right now because they are considered essential for improving the quality and continuous existence of human life.
However, to be able to harness these funds or profit from this industry, you need innovative business ideas. Here is a long list of lucrative business ideas in the biotechnology industry that you can choose from:
50 Best Biotech Small Business ideas & Opportunities for 2020
1. Bio-fertilizer Production: Bio-fertilizers are favored among organic farmers because unlike other fertilizers that contain chemicals which may be harmful to health, bio-fertilizers contain living organisms which can help plants to grow and thrive without negatively impacting the health of consumers.
2. Bee Apiary: You can start a business that involves helping farmers with pollination through your apiaries. You can also harvest and sell honey from your bees. Apart from harvesting and selling honey from bees, bee keepers also make money from other by-products from bees such as beeswax, bee pollen, bee venom, and royal jelly which are all used in diverse capacities to better human health.
3. Animal Feed Manufacturing: Humans keep a lot of pets and animals for commercial purposes. These animals need to consume balanced diets in order to grow and thrive properly. You can set up an animal feed manufacturing business where you can produce healthy animal feeds for fish, chicken, cattle, dogs, and birds amongst others.
4. Bird Hatchery: Commercial bird farmers cannot afford to wait for birds to hatch naturally so they rely on specially designed machinery created by biotechnologists to help hatch the eggs laid by their birds in a speedy and profitable manner. If you live in an area where there are a lot of bird farmers, you can make a lot of money from setting up an industrial hatchery as not many of these farmers are able to afford their own hatching equipment.
5. Fish Hatchery: Fish hatchery is also very profitable. There is a high demand for fish in the market and there is only so much the ocean can supply so most fish marketing companies rely on bio-technologically engineered fish hatcheries to supply fingerlings in large quantities that they can now breed and sell.
6. Plant Protection Services: You can also start a pest surveillance, control and diagnostic service to help farmers monitor their plants and protect them from pesticides, fungicides and insects using advanced tools, and chemicals.
7. Plant Tissue Culture Laboratory: Another lucrative business idea to consider is cultivating plant tissues in laboratories. You would use your professional skills and knowledge to collect cells and tissues of plants and use it to produce cloned versions of plants through a method known as micropropagation. These are some of the techniques that bio-technologists are using to prevent world hunger by ensuring that there’s always food crop for people to consume.
8. Bio-Gas Production: We all know that traditional gas is expensive and created from materials that are at risk of depletion. Bio-gas on the other hand is made from fermenting organic waste which is less likely to go into extinction as long as humans and animals continue to exist. Bio-gas is the future as predicted by a lot of industry experts so you might want to jump on the trend now that it is still fresh so that you can make a lot of money before the industry becomes over-saturated.
9. Bio-gas Equipment Manufacturing and Selling: If you don’t want to produce bio-gas, you can opt for selling bio-gas equipment such as biogas plant equipment, bio-gas stove, and other household or industrial equipment powered by biogas. You’ll make a lot of money especially from people looking to reduce the amounts they spend on gas every month.
10. Seed Processing Services: You can start manufacturing and selling bio-technologically engineered seeds to help farmers earn more profits from their business.
11. Soil Water Quality and Input Testing Laboratory: Soil and water play very important roles in determining the growth of crops so farmers always need the help of soil water quality and input testing professionals to help them decide on the best spots to plant their crops.
12. Bio-pesticide Manufacturing: You can start your own brand of plant protection products that contain biological control agents (BCAP) such as plant extracts, microbial extracts or phemorones. BCAP pesticides can help to enhance plant growth, and reduce resistance to pesticides in plants.
13. Compost Fertilizer Production: You can also consider starting a compost fertilizer production business which involves using human wastes to produce fertilizer.
14. Vaccine Manufacturing: Vaccines are very important for human survival as they help to prevent the spread of deadly diseases. There are hundreds of vaccines that you can start producing and you’ll earn a lot of money from supplying your products to the government who often buy these vaccines and give them to citizens for free.
15. Artificial Human Parts Production: You can start a business of manufacturing prosthetic hands, limbs and other human parts that can be bio-technologically engineered. You’ll be able to put a smile on the faces of people suffering from physical challenges, and also make money in the process.
16. 4D Ultrasound Laboratory: The latest technology in ultrasound for pregnant women is a 4D scan that can help expectant mothers see their developing babies in colors. 4D scans can help expectant parents prevent birth defects in their kids.
17. Cryobank: These days, assisted reproduction have become very popular especially amongst people with fertility problems, gay couples who cannot birth children naturally, or people who want children marital commitments. You can make a lot of money from starting a cryobank where sperm donors and egg donors can safeguard their eggs and sperm for future harvest.
18. Vegetable Processing Plant: A lot of people around the world consume vegetables on a daily basis because they are healthy and nutritious. However, farmers alone cannot handle the huge demand for these vegetable which is why there are a lot of vegetable and tomato processing plants to artificially cultivate these products for sale and supply to the market.
19. Blood Bank: A lot of people donate blood regularly which has to be kept in blood banks until it is needed by a patient. This type of business requires a huge capital outlay but you’ll earn a lot of profits from it.
20. Medical Transportation Services: Medical transportation services is usually done by biotechnologists because transporting human parts needed for transplants require professional skills and experience and a lot of equipment.
21. Equipment for the Visually Impaired: Another lucrative business idea is manufacturing and selling products for the visually impaired such as mounted magnifiers, braille creation machines, writing equipment, telephones and personal care equipment to make life easier for the visually impaired.
22. Handicapped Car Manufacturers: You can also consider a business of producing modified cars for the physically challenged or the visually impaired so that they can also have a chance to drive themselves.
23. Smart Wheelchairs: Gone are the days when wheelchairs were boring and required some measure of human assistance. These days, wheelchairs are created to be smart so that the physically challenged can take care of themselves without relying excessively on care givers. Smart wheelchairs come with buttons that allow the user control anything from light switches to cable televisions. You can start manufacturing or selling one of those.
24. Non-Invasive Diagnostic Tools: You can start manufacturing and selling tools that allow for non-invasive diagnosis such as Electrocardiograms (ECG), Computerized Axial Tomography (CAT) and MRI (Magnetic Resonance Imaging) scanning tools.
25. Food Supplements: Food supplements are very popular now because a lot of people now understand the importance of getting all the essential nutrients that the body requires, which they may not be getting enough from foods that they consume. The food supplement industry is worth $278 Billion and it still has a lot of room for new entrants.
26. Breast Implant Manufacturing: Breast silicone are selling fast now due to the increase in the number of people getting breast augmentation procedures. You’ll make a lot of money from selling or manufacturing and supplying breast implants.
27. Laser Hair Removal: Not very many people can stand painful hair waxing procedures. Laser hair removal is a less painful and more effective procedure that many people are opting for these days. You can set up your own laser hair removal clinic or start selling portable laser hair removal tools that people can use at home.
28. Platelet Rich Plasma Injections (PRP): Speaking of hair, there is a group of people who need to grow their hair especially people suffering from alopecia. Scientists have discovered that Platelet rich injections can help to stimulate hair regrowth. You can consider setting up a business that involves manufacturing or selling these injections. There are also a number of other hair regrowth technologies that you can make money from.
29. Stem Cell Processing Laboratory: Stem cells are used to treat a number of blood and bone marrow diseases. Recently, they have been used to carry out beauty procedures. You can start a stem cell laboratory to service this growing medical industry.
30. Minimally Invasive (Endoscopic) Surgical Equipment: Another way that biotechnologists have helped to advance the medical field is by inventing tools and equipment that make it possible for surgeons to perform surgical procedures without opening up a patient. You can starts manufacturing or selling such equipment.
31. Electrical Bone Simulation Devices: You can also consider a business of making or selling electrical bone stimulation devices that help to promote healing of bone fractures and spinal injuries.
32. Artificial Food Sweeteners: A lot of people are avoiding sugar and aspartame for sweetening their foods because they are considered unhealthy. You can consider setting up a business that involves manufacturing of genetically modified food sweeteners or healthy food sweeteners like Xylitol, Stevia, Erythritol, and Yacon Syrup. This is a very huge industry right now with a lot of profit potentials.
33. Genetically Modified (GMO) Food Processing: Another lucrative business idea is to start manufacturing and selling genetically modified foods like Sugar Beets, Soy, Milk, Corn, and Canola.
34. Consultancy Services: You can also consult for people who wish to invest in the biotechnological industry. You can make money off showing them lucrative ideas to invest in, help them write grant proposals or business plans to raise money from the government or other investors.
35. Bio-Feedback Therapy Services or Equipment Supply: Biofeedback therapy is used to help people regain control over normal involuntary functions by attaching electrodes or sensors to send signals to targeted organs in the body, in order to treat or prevent a number of health conditions including high blood pressure, incontinence, headaches, and other diseases. Bio-feedback is a growing field in the biotechnological industry and you can make a lot of money from selling equipment or starting your own laboratory to offer therapy services to interested patients.
36. Water Extractors: There is an undeniable water crisis in the world with an estimated 1.2 billion people in the world living in areas prone to water scarcity. Devices like the water extractor are some of the innovations that bio-technologists have come up with to solve water scarcity problems. Water extractors can help to extract water from the atmosphere so that people no longer have to rely on groundwater for survival. This is an emerging technology that you can invest in, and make money from.
37. Wastewater Treatment Plants: You can start your own wastewater treatment plant to remove solid and chemical wastes from water so that they can be recycled for reuse. This is another solution for world water scarcity.
38. Training School: You can consider the idea of setting up a training school to train students on how to research, develop tools and products in the emerging biotechnological industry.
39. Biodegradable Plastic Production: Biodegradable plastics are made from organic matter like non-castor plants and corns. Biodegradable plants are essential for solving world pollution problems because they can decompose faster, and be absorbed by the environment without causing harm.
40. Personal Testing Kits and devices: Self-testing kits are also a growing trend. People are able to use these kits and devices to monitor their health and perform emergency diagnostics. You can earn good income from manufacturing or selling test kits such as high blood pressure monitors, ovulation detector kits, HIV and STD test kits, pregnancy test strips, and alkaline test strips to mention few.
41. Biometric Capturing Centers: Biometric capturing is used across different business industries. You can make money from setting up your own biometric capturing center to capture and process biometric data on behalf of private clients or the government.
42. Lie Detecting Equipment: Biotechnology has also helped to improve crime fighting in the world especially through the creation of lie detectors that can help to determine when suspects are telling lies or saying the truth. You can start manufacturing, or selling these tools, or providing consultancy services to security agencies.
43. Forensic DNA Analysis Tools: You can also start a forensic analysis lab or start selling equipment to security agencies, and forensic analysis service providers.
44. Biotechnology Business Incubator: Yet another way to profit off the emerging biotechnology industry is to set up a business incubator to help people with brilliant biotech business ideas to find funding for brilliant business ideas and innovations.
45. Security Devices: You can start making and selling biotechnology devices that promote security such as fingerprint locks, eyelid scanners, and several others.