Biotech Facts
- The term “biotechnology” was coined in 1919 by Karl Ereky, an Hungarian engineer.
- Biotechnology in one form or another has flourished since prehistoric times.
Examples: They could plant their own crops and breed their own animals, they learned to use biotechnology. The discovery that fruit juices fermented into wine, or that milk could be converted into cheese or yogurt, or that beer could be made by fermenting solutions of malt and hops began the study of biotechnology. nWhen the first bakers found that they could make a soft, spongy bread rather than a firm, thin cracker, they were acting as fledgling biotechnologists. nThe first animal breeders, realizing that different physical traits could be either magnified or lost by mating appropriate pairs of animals, engaged in the manipulations of biotechnology. - Compensation in biotechnology companies is competitive and includes incentives, such as stock option plans, 401K plans, company-wide stock purchase plans, and cash bonus plans.