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This story is from June 5, 2006
Biotech job creation remains a dream
A million biotech jobs by year 2010. That was the sector's slogan just a couple of years ago. But now, it seems a distant dream.
But is it the fault of the industry? Maybe not. The blame has to surely lie with the hype surrounding the industry.One folly has been to equate the IT exploits with that of the biotech field. IT has always been a high employment creator, being largely a service industry, but biotech, with its research oriented nature couple with long gestation periods is a different kettle of fish. But people were slow to realise it. "We need to temper down our expectations," says Utkarsh Palnitkar, director, Ernst & Young. "Biotechnology is capital intensive. The sector does not require so many people."
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