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Emerging life sciences ventures: The quest for legitimacy

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  • Kuratko, Donald F.
  • Brown, Travis J.

Abstract

As an emerging life sciences venture, gaining legitimacy (credibility) with external stakeholders (e.g., investors) is a critical challenge in today's environment. This quest for legitimacy relates to issues that focus on the individual, the environment, and the process. Integrating insights gained from interviews with three CEOs of life sciences companies along with the academic literature, we provide guidance for entrepreneurs regarding the unique challenges facing life sciences ventures. We propose that these ventures are driven by a "quest for legitimacy" and that life sciences entrepreneurs therefore must be aware of the strategic issues which impact legitimacy in the eyes of external stakeholders (e.g., investors).

Suggested Citation

  • Kuratko, Donald F. & Brown, Travis J., 2010. "Emerging life sciences ventures: The quest for legitimacy," Business Horizons, Elsevier, vol. 53(2), pages 211-220, March.
    • Handle: RePEc:eee:bushor:v:53:y:2010:i:2:p:211-220
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    2. Straker, Karla & Peel, Sean & Nusem, Erez & Wrigley, Cara, 2021. "Designing a dangerous unicorn: Lessons from the Theranos case," Business Horizons, Elsevier, vol. 64(4), pages 525-536.

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