This paper draws on results of research carried out on Brazilian biotechnology businesses evolution, from 2001 to 2004. The study is aimed at identifying elements of international market orientation and innovation. The empirical research updates information on biotechnology companies’ in state of Minas Gerais (MG). Using clusters, or ‘local productive arrangements’ perspectives, two characteristics of enterprises are observed: 1) the building up of internationalization competences; 2) the technological innovation potentials. A detailed questionnaire was applied to entrepreneurs and executives of a 42 sample of 75 operating companies identified. Results evidenced orientation towards internationalization, export growth, intention to export, creation of competence to cope with internationalizing. As for entrepreneurial development, despite negative company growth, new entrant companies are registered with higher innovation potentials and abilities to global products. Such new entrants are receiving venture capital investments, which indicate larger volumes of financial and organizational resources.This paper draws on results of research carried out on Brazilian biotechnology businesses evolution, from 2001 to 2004. The study is aimed at identifying elements of international market orientation and innovation. The empirical research updates information on biotechnology companies’ in state of Minas Gerais (MG). Using clusters, or ‘local productive arrangements’ perspectives, two characteristics of enterprises are observed: 1) the building up of internationalization competences; 2) the technological innovation potentials. A detailed questionnaire was applied to entrepreneurs and executives of a 42 sample of 75 operating companies identified. Results evidenced orientation towards internationalization, export growth, intention to export, creation of competence to cope with internationalizing. As for entrepreneurial development, despite negative company growth, new entrant companies are registered with higher innovation potentials and abilities to global products. Such new entrants are receiving venture capital investments, which indicate larger volumes of financial and organizational resources.A evolução de empresas de biotecnologia brasileiras, no período 2001-2004 é avaliada em seu posicionamento relativo à orientação a mercados internacionais e inovação. A pesquisa realizada atualiza as informações sobre empresas de biotecnologia existentes em Minas Gerais e, através da abordagem de arranjos produtivos locais (APLs), avalia desenvolvimentos relativamente a: 1) formação de competências para internacionalização; 2) modificações em intensidade inovadora. Questionário foi aplicado a empresários e executivos em uma amostra de 42 empresas selecionadas de 75 empresas operantes, identificadas. Os resultados encontrados evidenciam orientação à internacionalização, crescimento de exportações e intenções de exportar e avanço de capacitação para atuação internacional. Quanto ao desenvolvimento empresarial, o setor teve diminuição do número de empresas no período, mas registra-se surgimento de novas entrantes, com potencial de inovação tecnológica e geração de produtos mundiais. As novas entrantes vêm sendo investidas por venture capital, o que indica maior volume de recursos financeiros e organizacionais.