Understanding the role of the knowledge economy and green innovation on bio-entrepreneurship capacity in public research organizations

Geoff Dumsday
Department of Chemical and Biological Engineering, Monash University, Clayton, VIC, Australia
Thean-Hock Yeoh
Advanced Medical & Dental Institute (AMDI), Universiti Sains Malaysia, Bertam, 13200 Kepala Batas, Penang, Malaysia.

DOI:https://doi.org/10.5912/jcb2076

Abstract:

Since the beginning of civilization, people have constantly been improving and innovating on various fronts to make their way of life more secure. This research emphasizes its significance because it is a fast-developing field that connects two significant spheres: the knowledge economy and green innovation by following environmentally friendly practices. The major focus of the present study is the public research organizations in the United Kingdom. The current study claims that developing environmentally friendly practices in the biotechnology industry can substantially aid the shift toward greener innovation and the economy. Evaluation of the relationship between the knowledge economy and bio-entrepreneurship capacity will be the primary aim of this research. The present research also examines the influence of the knowledge economy and the impact of green innovation in the UK. Furthermore, the researchers conducted a literature review on the knowledge economy and green innovation as potential sources of prospects for bio-entrepreneurship. It outlines the many standards and procedures to begin a bio-entrepreneurship business. In addition, this paper addresses the limitations and practical and theoretical implications of the study and offers several recommendations for future research.