What is it about?
The article is based on the multiple case study analysis of 7 biotechnology spin-offs traded on the Warsaw Stock Exchange. The paper's uniqueness results from the synergy of combining three research areas: components of business models for commercialization; attributes of biotech R&D activity, and indicators measuring the internationalization strategy implementation. We intend to close the gap in literature on business models dedicated to the internationalization of new biotech ventures. The research results will contribute to the existing body of knowledge on business models for the commercialization of R&D outcomes and internationalization of start-ups.
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Why is it important?
The findings are important for the development of business models of new biotech ventures. To effectively enter the global market, young firms require broad-based innovation, not only in respect of products and technologies, but also in terms of their strategies and business models. The desire for internationalization should also translate into the inclusion of appropriate attributes in the business model so as to enable the effective implementation of the internationalization strategy. Research results can be used as recommendations for universities on how to effectively build a business model for the commercialization of biotech spin-offs on the basis of R&D outcomes for the internationalization strategy.
Perspectives
This paper is a result of an interdisciplinary cooperation between corporate finance, academic entrepreneurship and accounting researcher and business process management expert and researcher. The idea for this study originated as a result of hours of conversations. The biotechnology sector is characterized by its tight links to science and innovation. Its high capital-labor intensity and risk that R&D expenses will not be covered by product commercialization make newly established biotechnology firms vulnerable in the market. Their survival is challenging and dependent on many factors. We are proud that Poland is ranked 10th worldwide in terms of the number of centers carrying out clinical trials (1.6% of global involvement).
dr Anna ABJ Białek-Jaworska
Uniwersytet Warszawski
Read the Original
This page is a summary of: Biotech spin-off business models for the internationalization strategy, Baltic Journal of Management, October 2016, Emerald,
DOI: 10.1108/bjm-11-2015-0223.
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