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Differences in the Strategic Orientations of Nordic and US-Based Young Biotechnology Ventures

INTERNATIONALISATION, INNOVATION & ENTREPRENEURSHIP: NEW VENTURES IN LIFE SCIENCE, Marian V. Jones, Colin Wheeler & Pavlos Dimitratos, eds., Edward Elgar Publishing, Forthcoming

UIC College of Business Administration Research Paper No. 09-12

36 Pages Posted: 3 Jul 2009 Last revised: 19 Nov 2014

Maija Renko

University of Illinois at Chicago

Date Written: December 15, 2008

Abstract

Small, young life science ventures are simultaneously affected by strong global and local forces. These are reflected in the strategic orientations - like market orientation, entrepreneurial orientation, and technological orientation - adopted by the ventures. This chapter presents a comparison of a sample of Silicon Valley- based biotechnology ventures with biotechnology firms of similar age and size in Northern Europe (Finland and Sweden) and in South Florida and Philadelphia Area in the United States. Altogether, 85 firms are analyzed. The results of the empirical study show that while ventures’ market orientation remains rather similar regardless of their location, some other aspects of firms’ strategic orientations do differ from one geographic area to another. It is suggested that these differences predominantly reflect the location specific institutional environments and resource endowments.

Keywords: BIotechnology, entrepreneurship, market orientation, entrepreneurial orientation

JEL Classification: M13

Suggested Citation

Renko, Maija, Differences in the Strategic Orientations of Nordic and US-Based Young Biotechnology Ventures (December 15, 2008). INTERNATIONALISATION, INNOVATION & ENTREPRENEURSHIP: NEW VENTURES IN LIFE SCIENCE, Marian V. Jones, Colin Wheeler & Pavlos Dimitratos, eds., Edward Elgar Publishing, Forthcoming; UIC College of Business Administration Research Paper No. 09-12. Available at SSRN: https://ssrn.com/abstract=1427383 or http://dx.doi.org/10.2139/ssrn.1427383

Maija Renko (Contact Author)

University of Illinois at Chicago ( email )

601 S. Morgan St. (M/C 243)
University Hall 2203
Chicago, IL 60607-7122
United States

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