Original scientific paper

How do university IPRs and R&D funding mechanisms affect innovation performance in the healthcare biotechnology industry? Evidence from Europe and the USA

ANI GERBIN ; University of Rijeka, Faculty of Medicine Center for Proteomics, B. Branchetta 20, 51000 Rijeka, Croatia
MATEJA DRNOVŠEK ; University of Ljubljana, Faculty of Economics, Academic Unit for Entrepreneurship, Kardeljeva ploščad 17, 1000 Ljubljana,Slovenia

Abstract

This paper analyses determinants of innovation performance in the healthcare biotechnology industry to develop propositions for the future development of this growth-accelerating sector. We use empirical data to point to specific differences in this domain betweenEurope andUSA.We build from a body of literature investigating the historical development of the industry, its expansion to new entities and new scientific fields and the role of different sources of funding of biomedical commercialization process.We use the theory
of innovative enterprise and the ''maximizing shareholder value'' concept to elucidate determinants of biotechnology innovation performance. Our findings point to the weaknesses of the highlymonetized US businessmodel given the tendencies of the European biotechnology industry to emulate thismodel. We provide implications directed to facilitating sustainable growth of the
sector.

Keywords

Hrčak ID:

101238

URI

https://hrcak.srce.hr/101238

Publication date:

31.3.2013.

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