IDEAS home Printed from https://ideas.repec.org/a/taf/indinn/v8y2001i3p267-289.html
   My bibliography  Save this article

New Economy Innovation Systems: Biotechnology In Europe And The Usa

Author

Listed:
  • Philip Cooke

Abstract

It is proposed that developments in the commercialization of science and technology in "new economy" sectors such as telecommunications, information technology and biotechnology presage a new kind of systemic innovation. This is both regionalized and localized around hubs of knowledge-driven entrepreneurship, and subject to extremely rapid exploitation in consequence of search and invest activities of corporate venturing arms of large firms, venture capitalists and business angels. The millennium meltdown of Internet stocks has brought caution but also learning gains to new economy investors, but the underlying model remains robust. Unlike the typical European regional innovation system, which is supported by extensive public sector enterprise support activities, "New Economy Innovation Systems" are far less dependent on public enterprise support intervention. Learning this new, rapid mode of exploitation is essential if commercialization gaps between Europe and North America are to be reduced. The key questions concern the appropriate role of public innovation support, the commercialization advantages and limits of venture capital, and the prospects for the new approach in less-favoured regional settings.

Suggested Citation

  • Philip Cooke, 2001. "New Economy Innovation Systems: Biotechnology In Europe And The Usa," Industry and Innovation, Taylor & Francis Journals, vol. 8(3), pages 267-289.
  • Handle: RePEc:taf:indinn:v:8:y:2001:i:3:p:267-289
    DOI: 10.1080/13662710120104583
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/13662710120104583
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/13662710120104583?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Steven Casper;Hannah Kettler, 2000. "The Road to Sustainability in the UK and German Biotechnology Industries," Monograph 000466, Office of Health Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stephen Roper & Helen Xia, 2014. "Unpacking open innovation: Absorptive capacity, exploratory and exploitative openness and the growth of entrepreneurial biopharmaceutical firms," Research Papers 0019, Enterprise Research Centre.
    2. Muñoz, Félix & Encinar, María Isabel, 2011. "Agents intentionality, capabilities and the performance of Systems of Innovation," Working Papers in Economic Theory 2011/03, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    3. Belussi, Fiorenza & Sammarra, Alessia & Sedita, Silvia Rita, 2010. "Learning at the boundaries in an "Open Regional Innovation System": A focus on firms' innovation strategies in the Emilia Romagna life science industry," Research Policy, Elsevier, vol. 39(6), pages 710-721, July.
    4. Graf, Holger & Broekel, Tom, 2020. "A shot in the dark? Policy influence on cluster networks," Research Policy, Elsevier, vol. 49(3).
    5. Xing, Jack Linzhou & Sharif, Naubahar, 2020. "From creative destruction to creative appropriation: A comprehensive framework," Research Policy, Elsevier, vol. 49(7).
    6. G. Page West III & Charles E. Bamford & Jesse W. Marsden, 2008. "Contrasting Entrepreneurial Economic Developments in Less-Developed Latin American Markets: Applications and Extensions of Resource-Based Theory," Discussion Paper Series 2008-03, McColl School of Business, Queens University of Charlotte.
    7. Stefano Basilico & Uwe Cantner & Holger Graf, 2023. "Policy influence in the knowledge space: a regional application," The Journal of Technology Transfer, Springer, vol. 48(2), pages 591-622, April.
    8. Su, Yu-Shan & Wu, Feng-Shang, 2015. "Regional systems of biotechnology innovation — The case of Taiwan," Technological Forecasting and Social Change, Elsevier, vol. 100(C), pages 96-106.
    9. Cristina Porumboiu, 2021. "The Importance of Clusters for the Development of New Industries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 24(80), pages 70-80, June.
    10. G. Page West III & Charles E. Bamford & Jesse W. Marsden, 2008. "Contrasting Entrepreneurial Economic Development in Emerging Latin American Economies: Applications and Extensions of Resource-Based Theory," Entrepreneurship Theory and Practice, , vol. 32(1), pages 15-36, January.
    11. Kolympiris, Christos & Kalaitzandonakes, Nicholas & Miller, Douglas, 2015. "Location choice of academic entrepreneurs: Evidence from the US biotechnology industry," Journal of Business Venturing, Elsevier, vol. 30(2), pages 227-254.
    12. Rolf Sternberg & Matthias Kiese & Dennis Stockinger, 2010. "Cluster Policies in the US and Germany: Varieties of Capitalism Perspective on Two High-Tech States," Environment and Planning C, , vol. 28(6), pages 1063-1082, December.
    13. Der-Shiuan Lee & Breandán Ó Huallacháin, 2012. "Spatial Network-based and Regional Proximity in US Biotechnology," Chapters, in: Marina van Geenhuizen & Peter Nijkamp (ed.), Creative Knowledge Cities, chapter 12, Edward Elgar Publishing.
    14. Carlsson, Bo, 2004. "The Digital Economy: what is new and what is not?," Structural Change and Economic Dynamics, Elsevier, vol. 15(3), pages 245-264, September.
    15. Dirk Dohse & Sascha Walter, 2012. "Knowledge context and entrepreneurial intentions among students," Small Business Economics, Springer, vol. 39(4), pages 877-895, November.
    16. Luis Carvalho & Mario Vale, 2018. "Biotech by Bricolage? Agency, institutional relatedness and new path development in peripheral regions," Papers in Evolutionary Economic Geography (PEEG) 1801, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Jan 2018.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Philip Cooke, 2002. "Biotechnology Clusters as Regional, Sectoral Innovation Systems," International Regional Science Review, , vol. 25(1), pages 8-37, January.
    2. Jim Attridge, 2007. "Innovation Models In The Biopharmaceutical Sector," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 11(02), pages 215-243.
    3. Philip Cooke, 2004. "Life Sciences Clusters and Regional Science Policy," Urban Studies, Urban Studies Journal Limited, vol. 41(5-6), pages 1113-1131, May.
    4. Gambardella, Alfonso & Orsenigo, Luigi & Pammolli, Fabio, 2000. "Global Competitiveness in Pharmaceuticals: A European Perspective," MPRA Paper 15965, University Library of Munich, Germany.
    5. Phil Cooke, 2006. "Global Bioregions: Knowledge Domains, Capabilities and Innovation System Networks," Industry and Innovation, Taylor & Francis Journals, vol. 13(4), pages 437-458.
    6. Christel Lane & Jocelyn Probert, 2003. "Globalisation and Its Impact on Competitiveness: the Case of the British and German Pharmaceutical Industry," Working Papers wp262, Centre for Business Research, University of Cambridge.
    7. Philip Cooke, 2006. "Global Bioregional Networks: A New Economic Geography of Bioscientific Knowledge," European Planning Studies, Taylor & Francis Journals, vol. 14(9), pages 1265-1285, April.
    8. Nicola Lacetera, 2001. "Corporate Governance and the Governance of Innovation: The Case of Pharmaceutical Industry," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 5(1), pages 29-59, March.
    9. Philip Cooke, 2010. "Global Bioregions: Knowledge Domains, Capabilities and Innovation System Networks," Chapters, in: Riccardo Viale & Henry Etzkowitz (ed.), The Capitalization of Knowledge, chapter 5, Edward Elgar Publishing.
    10. Nicola Lacetera, 2000. "Corporate Governance and the Governance of Innovation: the Case of Pharmaceutical Industry," KITeS Working Papers 122, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Dec 2000.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:indinn:v:8:y:2001:i:3:p:267-289. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CIAI20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.