Are Biotechnology Startups Different?

5 Pages Posted: 30 Apr 2018

See all articles by Hervé Lebret

Hervé Lebret

Ecole Polytechnique Fédérale de Lausanne

Date Written: April 13, 2018


In the domain of technology startups, biotechnology has often been considered as specific. Their unique technology content, the type of founders and managers they have, the amount of venture capital they raise, the time it takes them to reach an exit as well as the technology clusters they belong to are seen as such unique features. Based on extensive research from new databases, the author claims that the biotechnology startups are not as different as it might have been claimed: the amount of venture capital raised, the time to exit, their geography are indeed similar and even their equity structure to founders and managers have similarities. The differences still exist, for example the experience of the founders, the revenue and profit level at exit.

Keywords: startup, innovation, venture capital, technology, biotechnology, entrepreneurship

JEL Classification: L26, L65, M13, O32, Q55

Suggested Citation

Lebret, Hervé, Are Biotechnology Startups Different? (April 13, 2018). Available at SSRN: or

Hervé Lebret (Contact Author)

Ecole Polytechnique Fédérale de Lausanne ( email )

Quartier de L'innovation QI J1
Lausanne, CH-1015
+41216937054 (Phone)

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