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What Does it Take to Become a Biotech Hot Spot?

Author

Listed:
  • Jun Koo

    (Department of Public Administration, College of Political Science and Economics, Korea University, Anam-Dong 5-1, Seongbuk-Gu, Seoul 136-701, Korea)

  • Jonghoon Bae

    (School of Business, Korea University, Anam-Dong 5-1, Seongbuk-Gu, Seoul 136-701, Korea)

  • Dohyeong Kim

    (Department of Public Administration, North Carolina Central University, 1801 Fayetteville St, Durham, NC 27707, USA)

Abstract

The biotech industry is considered to be the next growth engine by many policy makers and economic development scholars. However, our understanding of how the biotech industry evolves and grows is still quite limited. In this study we examine how the industry began and grew, on the basis of a case study and statistical analysis. A case study of the Raleigh–Durham area reveals that the region was fortunate to have strong political leadership accompanied by scientific, industrial, and entrepreneurial assets that set off the initial spark of the biotech growth in the region. In the study's statistical analysis we use the tripod approach to examine the growth of the biotech sector. The results show that the complex interplay of knowledge creation, commercialization, and retention factors determines the growth path of the biotech industry.

Suggested Citation

  • Jun Koo & Jonghoon Bae & Dohyeong Kim, 2009. "What Does it Take to Become a Biotech Hot Spot?," Environment and Planning C, , vol. 27(4), pages 665-683, August.
    • Handle: RePEc:sae:envirc:v:27:y:2009:i:4:p:665-683
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