The Entrance in Foreign Markets in the Field of Biotechnology and the Consideration of Socio-Cultural Particularities

This paper describes the term biotechnology and how a small Austrian startup enterprise could enter into foreign markets. The paper combines knowledge of Intercultural and International Management constantly referring to biotechnology. This paper is divided into 3 major chapters. The second chapter defines biotechnology generally and furthermore gives an insight in marine biotechnology using the example of a concrete enterprise. Afterwards cultural and socio-political particularities in the fields of biotechnology are explained based on Austria where this startup enterprise is headquartered and currently operating. The fourth chapter concentrates on concrete foreign market entry strategies which could beapplied by this startup enterprise. Finally every aspect is summarized and a final recommendation is given.