Biotechnology, use of various biological processes to make products and perform services, has been frequently referred as the technology of 21st century along with Information Technology. This has been mainly due to the developments in life sciences during the last three decades involving the development of a number of novel and new techniques in biological sciences that do not only advance research tremendously but also carried with them the promise of improvement in life standards of mankind. Ethiopia, one of the populous nations of Africa with an economy largely relying on agriculture has got a lot to be benefited from modern biotechnology in its development endeavor in the coming years.