Authors: Lisa J. Daniel
Addresses: University of Adelaide Business School, Adelaide 5005, South Australia, Australia
Abstract: The challenge of cultivating an environment of innovation and knowledge development as a nexus for economic growth and global competitiveness in the biotechnology industry is examined. The experience of an emerging bioindustry cluster in Australia provides evidence for clusters as a dynamic resource of knowledge, innovation and opportunity. Social capital, networking and an engaged professional community are shown to be particularly important in biotechnology, where rapid innovation and constant evolution of knowledge and technologies can quickly undermine competitiveness. This paper reveals the vital role of relational dynamics and knowledge sharing in the bioindustry cluster as a mechanism for leveraging knowledge, innovation and competitive advantage.
Keywords: bioindustry; globalisation; biotechnology; biotech clusters; innovation; relational dynamics; knowledge sharing; sociology of innovation; networking; social capital; Australia.
International Journal of Globalisation and Small Business, 2012 Vol.4 No.3/4, pp.221 - 241
Available online: 28 Sep 2012 *Full-text access for editors Access for subscribers Purchase this article Comment on this article