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Biotechnology industry is very diverse: Firms engaged in activities such as drug development, food production and food processing (e.g. brewery and dairy products), environmental remediation and analysis and testing are, to differing degrees, involved with biotechnology.
An entrepreneurial segment of this industry, also termed "biotech industry" evolved greatly during the last 25 years. It is one of the most research-intensive industries in the world and typically consists of small and medium-sized enterprises founded by researchers from academia or industry. These biotechnology companies typically develop innovation and sell new technologies, services or products from all branches of biosciences. Most of them are characterized by their innovativeness, flexibility and speed. Yet, they also rely on government initiatives and on key relationships with academia, finance and venture capital or, for many, with large pharmaceutical companies. Thus, biotech enterprises are found in regional "clusters" which allow close proximity and interaction with other companies, research institutes and clinics. Even though the biotech industry faces numerous economic risks, its best days are still ahead, according to global surveys.

A biocatalytic process makes use of the ability of living organisms or their biological parts to transform substances. The transformation by micro-organisms of grape juice into wine, called fermentation, is a classical example of biocatalysis. Biocatalysis enables the synthesis of substances in a single biological step using lower temperatures (usually 25-37°C) and environmentally friendly conditions, whereas many production steps, including the use of (toxic) solvents and high temperatures, are often required for the chemical synthesis of the same substances.
The word biocatalysis indicates that the micro-organism or the isolated active proteins, called enzymes, which carry out the chemical reactions, are not used up by the reaction itself. They merely facilitate the reaction. The specificity and velocity of biological reactions as well as huge number of possible biological reactions useful in industrial production give them many advantages. Biological reactions are simpler, less dangerous, economically more efficient and more sustainable for the environment. In spite of these advantages, biocatalysis is mostly used for the synthesis of antibiotics, fine chemicals, vitamins, detergents and bio-plastics. The replacement of chemical processes by biocatalytic processes is slow, due to their higher cost, the long tradition of the chemical industry and the often very high investment necessary for the conversion of the industrial processes.

Related question on white biotechnology

White Biotechnology is an emerging field within modern biotechnology that serves industry. It uses living cells such as moulds, yeasts or bacteria, as well as enzymes, to generate products and services. Living cells can be used directly or improved to work as "cell factories" to produce enzymes for industry. They can also be used to make antibiotics, vitamins, vaccines and proteins for medical use.
Enzymes are present in all living organisms: whenever a substance is transformed into another, nature uses enzymes to accelerate the process. Enzymes offer a biological route and a cleaner solution to the chemical synthesis of certain products by industry. Enzymes are eco-efficient; they consume less water, less raw materials and less energy. The environmental impact is minimised, while better products are manufactured at lower cost.
White Biotechnology can contribute to a more sustainable environment. Its procedures will not compromise the world to come with today's environmental problems. Substantial benefits for the environment, consumers and industry are expected from White Biotechnology which can:

For further information see the website of EuropaBio

Note: the multi-langual FAQs on biotechnology, food, medicine, safety and ethics have been provided by the ECOD-BIO project (www.ecod-bio.org).