Title: Financing as mother's milk for international biotechnology start-ups

Authors: Preeta M. Banerjee

Addresses: International Business School, Brandeis University, 415 South St., Waltham, MA 02454, USA

Abstract: This paper uses interviews of biotechnology investors and entrepreneurs to investigate the role of four investor types and eight financing vehicles across four stages of firm evolution. The choice of financing vehicle can have a differential impact on speed to market, control of direction, degree of technological risk, and capability development. This framework will be helpful for entrepreneurs, policymakers, academics and the international trade community in anticipating the impact of financing on firm and technology development – particularly as biotechnology firms are developing the next generation of drugs, therapeutics, devices, tools and diagnostics for curing human disease.

Keywords: international biotechnology startups; biotechnology financing; technology development; firm evolution; biotechnology investment; biotechnology entrepreneurship; technoentrepreneurship; technopreneurship.

DOI: 10.1504/IJTE.2009.027545

International Journal of Technoentrepreneurship, 2009 Vol.2 No.1, pp.45 - 63

Published online: 31 Jul 2009 *

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