South Africa has a solid history of engagement with traditional biotechnology. It has produced one of the largest brewing companies in the world; it makes wines that compare with the best; it has created many new animal breeds and plant varieties, some of which are used commercially all over the world and it has competitive industries in the manufacture of dairy products such as cheese, yoghurt and maas and baker’s yeast and other fermentation products.
However, South Africa has failed to extract value from the more recent advances in biotechnology, particularly over the last 25 years with the emergence of genetics and genomic sciences. Already many companies and public institutions elsewhere in the world are offering products and services that have arisen from the new biotechnology. In the USA alone, there are 300 public biotechnology companies with a market capitalisation of $353 billion and an annual turnover of $22 billion p.a. Moreover, the growth of biotechnology industries is not restricted to the developed countries. Developing countries such as Cuba, Brazil and China have been quick to identify the potential benefits of the technology and have established measures both to develop such industries and to extract value where possible and relevant.
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Submitted by acrobat on Sun, 06/22/2008 - 00:09.
