Economic-financial management modeling for biotechnology enterprises in Cuba

• Main Authors: Adolfo Castillo, Idania Caballero, Juan Triana
• Format: Article
• Language: English
• Published: Elfos Scientiae
• Series: Biotecnología Aplicada
• Subjects: biotecnología; gestión; economía; conocimiento; alta tecnología; empresa; cuba
• Online Access: http://scielo.sld.cu/scielo.php?script=sci_arttext&pid=S1027-28522013000400006&lng=en&tlng=en

Valorization of knowledge generated by the fast advance of science and its marketing has led to the so-called "knowledge-based economy" and as a consequence high-technology (HiTech) companies have emerged. Those based in Biotechnology have some specific features compared to other HiTech sectors. This paper provides a model to structure the economic management of HiTech Biotechnology organizations in Cuba, considering the national economy and the experience accumulated by several institutions from the Scientific Biotech Pole in Western Havana. The model is based on some concepts and proposals, and it addresses key elements, such as: insurance of adequate funding levels for R&D activities and technology replacement, flexible import and export management, the ability to get into very competitive markets and preservation of a highly qualified workforce. It also demonstrates the feasibility to establish this kind of enterprises in the context and regulations already existing in a non-capitalist environment, in the middle of the update of Cuban economy.