The name itself has the partial answer. Technology replicating Biology. We all know that Biology is all natural phenomena involving nature. So if we have to build something artificial that can replicate nature thats Biotechnology.
Manufacturing Biofuels, inventing new vaccines or manufacturing new drugs to cure Cancer, Diabetes etc are all marvels of Biotechnology.
This field has tremendous potential because researchers have barely scratched the surface of what is possible. With Global Warming being a grim reality we need Biotechnologists to eliminate fossil fuel and find new ways of manufacturing biofuels.
Biotechnology even involves replicating how our human body functions. Some researchers are even working on extracting Haemoglobin from plant extracts. This could solve several disorders lika Anaemia.
Here are several interviews of students who pursued a career in Biotechnology
What are the chances of an average student getting in ETH Zurich?
Ok i will tell you my story.
I consider myself an average or slightly above average student as far as marks are concerned. I didnt do very well in my Engineering final year. But down the line i got a really strong motivation to do an MBA because i liked the big picture. I wrote GMAT in 2000 (long back ) and got a decent score of 670. Though i applied to several top schools (Sloan, Chicago, Wharton, Stern etc) i got waitlisted only at NYU Stern.
They gave me a a deadline to convince them why i should be admitted. Having lost all hopes, i decided to give this one last try. I sat down for a few days and really thought about why i needed this degree , how it would help me and what my vision was. I wrote my mind honestly on 2 pages of paper and faxed it !