Yes, BIOTECHNOLOGY is a Scrabble word!

Letter values in Scrabble US: B 3, I 1, O 1, T 1, E 1, C 3, H 4, N 1, O 1, L 1, O 1, G 2, Y 4.

Is it a valid word?

BIOTECHNOLOGY is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the branch of molecular biology that studies the use of microorganisms to perform specific industrial processes
the branch of engineering science in which biological science is used to study the relation between workers and their environments