He's doing it because he believes the rapidly mushrooming biotechnology industry offers great opportunities for people who provide business services. Klompas appears to be making a very good move. Biotechnology is poised to become one of the leading growth industries in Canada and CAs are positioning themselves and their firms to take advantage of the expansion. These areas are growing at a rate that our economy has never seen. But biotech is just behind that, and growing quickly.
Biotechnology combines biology with technology to produce new biological materials and processes.
Several industries already make use of biotechnological processes or products - petroleum refining, pharmaceuticals, food and agriculture, mining and forestry. In some cases, bio-tech research is working on developing foods that will provide additional nutrients or deliver vaccines. Researchers are also working on using tobacco plants to yield proteins for treating diabetes. Cell transplantation will allow tissues or organs from one species to be transplanted to another. Animal organs may be used to keep humans alive until a suitable organ donor is found and genes will be modified to eliminate disease.