The determinants of biotechnology innovative capability: the dynamics of knowledge and marketplace Online publication date: Wed, 07-Jul-2004
by Shantha Liyanage, Peter Gluckman
International Journal of Biotechnology (IJBT), Vol. 6, No. 2/3, 2004
Abstract: Developing the biotechnology industry relies on advances in scientific knowledge and its commercial exploitation. Recent efforts to develop biotechnology businesses yielded mixed results, due to the gulf between science and business sensibilities. Turning good science into commercially valuable biotechnology products requires specialised skills, knowledge, effective communication, and imagination. Scientific motives and convictions clash with less precise and risky research commercialisation imperatives. Marketplace realities are driven by a number of human, cultural, and political factors that fall within the domain of business of biotechnology. This paper explores the organisational dynamics of developing medical biotechnology businesses and argues that the successful development of biotechnology industry requires effective organisational structures and the coevolution of two types of knowledge systems – scientific and innovative- for continuous growth of biotechnology firms.
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