Stimulating Economic Growth and Innovations by Leveraging Bioinformatics in Biotechnology SMEs
1 Department of Information Systems, Analytics and Operations, College of Business, University of Louisville, Kentucky, United States of America
2 Department of Mathematics, College of Arts and Sciences, Illinois State University, Illinois, United States of America.
3 Department of Mathematical Science, College of Sciences and Arts, Michigan Technological University, Michigan, United States of America.
Review Article
World Journal of Advanced Research and Reviews, 2024, 23(02), 211–221
Article DOI: 10.30574/wjarr.2024.23.2.2257
Publication history:
Received on 17 June 2024; revised on 28 July 2024; accepted on 31 July 2024
Abstract:
Biotechnology is an emerging field. It can foster economic expansion through scientific advancements. Small and Medium-Sized Enterprises (SMEs) are integral in this perspective as Biotechnology SMEs strongly support innovation and agility. This article elaborates on the role of bioinformatics as it is a pivotal element of biotechnology. It helps SMEs to analyze biological data using computational tools, which foster their economy and make them successful. This study has thrown light on core ideas of biotechnology and bioinformatics, investigated the distinctive position of SMEs, and unfolded the challenges they face, and the economic impacts. The study analyzes case studies to demonstrate how SMEs can increase their productivity and innovation by incorporating bioinformatics into their operations. Moreover, this study shed light on challenges, opportunities, and future trends in adopting bioinformatics. This article aims to address how small and medium-sized biotech businesses might strategically use bioinformatics for innovation and to promote economic growth.
Keywords:
Bioinformatics; SMEs; Biotechnology; Economic Growth; Innovation
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0