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The importance of the biotechnology industry and venture capital support in innovation : hearing before the Subcommittee on Rural Enterprises, Agriculture & Technology of the Committee on Small Business, House of Representatives, One Hundred Ninth Congress, first session, Washington, DC, July 27, 2005.
This book is aimed at providing a large audience, including practitioners, politicians and decision-makers, with useful insights in relation to innovation and entrepreneurship in the biotechnology industry. It offers an international perspective and a set of theoretical lenses to underline the roles and the effects of entrepreneurship and scientific innovation as key factors to support new firm emergence and to achieve and maintain competitiveness in this so important industry. Alain Fayolle, EM Lyon, CERAG Laboratory, France and Solvay Business School, Belgium The biotechnology industry across the globe is growing dramatically in line with rapidly emerging scientific and technological developments. This book explores both the theoretical and practical aspects of entrepreneurship in the biotechnology industry, focusing on the innovation processes underpinning success for new biotechnology firms (NBFs). It argues that biotechnology is at a crossroads: to date the science has been solid, yet commercial success remains elusive, and that it will be the commercial success of NBFs which will dictate the long term viability of this crucial industry. The authors go on to examine the roles played by both entrepreneurship and innovation in the competitiveness of biotechnology companies through a focus on: intellectual property strategies, product development, valuing biotechnology ventures, funding innovation and R&D, alliances and networking, changing industry structures evidenced through the shifting value chain and the impact of globalization on the changing industry and organizational life cycles. International case studies with a focus on human biosciences support the important theoretical developments at the heart of this book. Innovation and Entrepreneurship in Biotechnology offers original and valuable insights to researchers, academics and students as well as to practitioners involved with innovation and entrepreneurship in the field of biotechnology.
This report addresses a topic of recognized policy concern. To capture the benefits of substantial U.S. investments in biomedical R&D, parallel investments in a wide range of seemingly unrelated disciplines are also required. This report summarizes a major conference that reviewed our nation's R&D support for biotechnology and information technologies. The volume includes newly commissioned research and makes recommendations and findings concerning the important relationship between information technologies and biotechnology. It emphasizes the fall off in R&D investments needed to sustain the growth of the U.S. economy and to capitalize on the growing investment in biomedicine. It also encourages greater support for inter-disciplinary training to support new areas such as bioinformatics and urges more emphasis on and support for multi-disciplinary research centers.
With reference to India.
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Innovation is a translation of a new method, idea, or product into reality and profit. It is a process of connected steps that accumulates into a brand reputation required for success. Unlike Fortune 500 companies, whose projects are self-funded, a start-up must simultaneously have a value proposition that attracts a customer (for revenue), investors (for capital), and acquirers (for a liquidity event or IPO). A high percentage of start-ups fail before attaining positive cashflow, due to a variety of reasons that are detailed in this book. Avoiding the pitfalls and wrong turns are the goals of this book. Innovation, Commercialization, and Start-Ups in Life Sciences details the methodologies necessary to create a successful life science start-up from initiation to exit. Written by an expert who has worked with more nearly 500 life science start-ups, this book discusses specific processes and investor milestones that must be navigated to align customer, funder, and acquirer needs. Successful commercialization requires attention to multiple constituents, such as investors, regulators, and customers. Investors require liquidity for their return, which is achieved through selling their stock in a public or private sale. The reader will gain an appreciation for the necessary data, partnerships, and skills needed to create a competitive and sustainable company. The author discusses such specific issues as customer problems, demonstrating sales access, and ensuring intellectual property is impervious to competitive advancement. This book is intended to be suitable for entrepreneurs, venture capitalists, and investors in both business and academic settings. These organizations have specific departments, such as R&D, operations, business development, legal, regulatory, and marketing, that would also benefit from this book. FEATURES Focuses specifically on life science start-ups Examines how to determine a company valuation and future "fundable milestones" Explores how to align regulatory and clinical strategies Discusses intellectual property derived from a university or individual through formation to exit. Reviews how start‐ups must simultaneously meet the needs of multiple constituencies at once: investors, regulators, customers and exit candidates James F. Jordan is an author, consultant, and speaker. He is a Distinguished Service Professor of Healthcare & Biotechnology Management, a former Fortune 100 executive, and a managing director of a venture fund. Access the Support Material: https://healthcaredata.center/ Cover design by Sarah Mailhott.
In the past two decades small firms have provided much impetus to the development and growth of the new high technology industries. Drawing upon detailed research this book evaluates the contribution of small biotechnology firms to current production with a prognosis on the potential for future expansion. The research particularly focuses on the relationship between small and large firms and the extent to which small firms are emerging to lead the sector in terms of innovation and growth or are being absorbed into the existing large firms of related industrial sectors (e.g. pharmaceuticals, chemicals).
"Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize-winning discoveries, the biotech industry grew to thousands of small companies around the world. Each sought to emulate what the major pharmaceutical companies had been doing for a century or more, but without the advantages of scale, scope, experience, and massive resources. How could a large collection of small companies, most with fewer than 50 employees, compete in one of the world's most breathtakingly expensive and highly regulated industries? This book shows how biotech companies have met the challenge by creating nearly 40% more of the most important treatments for unmet medical needs. Moreover, they have done so with much lower overall costs. The book focuses on both the companies themselves and the broader biotech ecosystem that supports them. Its portrait of the crucial roles played by academic research, venture capital, contract research organizations, the capital markets, and pharmaceutical companies shows how a supportive environment enabled the entrepreneurial biotech industry to create novel medicines with unprecedented efficiency. In doing so, it also offers insights for any industry seeking to innovate in uncertain and ambiguous conditions. Looking to the future, it concludes that biomedical research will continue to be most effective in the hands of a large group of small companies as long as national healthcare policies allow the rest of the ecosystem to continue to thrive"--