IDEAS home Printed from https://ideas.repec.org/a/wsi/ijitmx/v01y2004i04ns0219877004000283.html
   My bibliography  Save this article

Growth Inhibitors Of Entrepreneurial Academic Spin-Offs: The Case Of Finnish Biotechnology

Author

Listed:
  • ANTTI-JUSSI TAHVANAINEN

    (ETLA The Research Institute of the Finnish Economy, Lönnrotinkatu 4 B, FIN-00120 Helsinki, Finland)

Abstract

This study compares Finnish biotechnology SMEs founded by the academic originators of the underlying basic research projects with biotechnology companies of other origins. The comparison facilitates the identification of factors affecting the prosperity of these "academic spin-offs" as a business. Results indicate several inhibitors of growth: Academic spin-offs lack market-orientation and commercial skills, the traditional perception of the academia's detached role within society aggravates the recruitment of skilled labour, and Finland's equity markets are underdeveloped with new seed capital being next to unavailable, as private and foreign venture capitalists invest primarily in companies being already very close to the markets.

Suggested Citation

  • Antti-Jussi Tahvanainen, 2004. "Growth Inhibitors Of Entrepreneurial Academic Spin-Offs: The Case Of Finnish Biotechnology," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 1(04), pages 455-475.
    • Handle: RePEc:wsi:ijitmx:v:01:y:2004:i:04:n:s0219877004000283
    DOI: 10.1142/S0219877004000283
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0219877004000283
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0219877004000283?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. Tahvanainen, Antti-Jussi, 2003. "The Capital Structure of Finnish Biotechnology SMEs - An empirical analysisi," Discussion Papers 864, The Research Institute of the Finnish Economy.
    2. Hermans, Raine & Tahvanainen, Antti-Jussi, 2002. "Ownership and Financial Structure of Biotechnology SMEs: Evidence from Finland," Discussion Papers 835, The Research Institute of the Finnish Economy.
    3. Hermans, Raine & Luukkonen, Terttu, 2002. "Findings of the ETLA Survey on Finnish Biotechnology Firms," Discussion Papers 819, The Research Institute of the Finnish Economy.
    4. David G. Blanchflower, 2004. "Self-Employment: More may not be better," NBER Working Papers 10286, National Bureau of Economic Research, Inc.
    5. Hermans, Raine & Kauranen, Ilkka, 2003. "Intellectual Capital and Anticipated Future Sales in Small and Medium-sized Biotechnology Companies," Discussion Papers 856, The Research Institute of the Finnish Economy.
    6. Linnosmaa, Ismo & Hermans, Raine & Kauhanen, Taru, 2002. "Price-Cost Margin in the Pharmaneutical Industry: Empirical Evidence from Finland," Discussion Papers 818, The Research Institute of the Finnish Economy.
    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. Cleonir Tumelero & Roberto Sbragia & Felipe Mendes Borini & Eliane Cristina Franco, 2018. "The role of networks in technological capability: a technology-based companies perspective," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 8(1), pages 1-19, December.
    2. Breznitz, Shiri M. & Tahvanainen, Antti-Jussi, 2010. "Cluster Sustainability in Peripheral Regions: A case study on Israel's and Finland's biotechnology industries," Discussion Papers 1212, The Research Institute of the Finnish Economy.
    3. Yagüe-Perales, Rosa M. & March-Chordà, Isidre, 2012. "Performance analysis of research spin-offs in the Spanish biotechnology industry," Journal of Business Research, Elsevier, vol. 65(12), pages 1782-1789.
    4. Tahvanainen, Antti-Jussi & Hermans, Raine, 2008. "Agglomeration and Specialisation Patterns of Finnish Biotechnology. On the Search for an Economic Rationale of a Dispersed Industry Structure," Discussion Papers 1133, The Research Institute of the Finnish Economy.
    5. Nikulainen, Tuomo & Tahvanainen, Antti-Jussi & Kulvik, Martti, 2012. "Expectations, Reality and Performance in the Finnish Biotechnology Business," Discussion Papers 1286, The Research Institute of the Finnish Economy.
    6. Tahvanainen, Antti-Jussi & Nikulainen, Tuomo, 2011. "Commercialization at Finnish Universities - Researchers Perspectives on the Motives and Challenges of Turning Science into Business," Discussion Papers 1234, The Research Institute of the Finnish Economy.

    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. Tahvanainen, Antti-Jussi, 2004. "Academic Spin-offs in Finnish Biotechnology," Discussion Papers 900, The Research Institute of the Finnish Economy.
    2. Nikulainen, Tuomo & Tahvanainen, Antti-Jussi & Kulvik, Martti, 2012. "Expectations, Reality and Performance in the Finnish Biotechnology Business," Discussion Papers 1286, The Research Institute of the Finnish Economy.
    3. Tahvanainen, Antti-Jussi & Hermans, Raine, 2004. "Financial Pecking Order and the Value Platform of Intellectual Capital," Discussion Papers 926, The Research Institute of the Finnish Economy.
    4. Tahvanainen, Antti-Jussi, 2003. "The Capital Structure of Finnish Biotechnology SMEs - An empirical analysisi," Discussion Papers 864, The Research Institute of the Finnish Economy.
    5. Hermans, Raine, . "International Mega-Trends and Growth Prospects of the Finnish Bio-technology Industry - Essays on New Economic Geography, Market Structure of the Pharmaceutical Industry, Sources of Financing, Intelle," ETLA A, The Research Institute of the Finnish Economy, number 40, June.
    6. R. Sandra Schillo & Ajax Persaud & Meng Jin, 2016. "Entrepreneurial readiness in the context of national systems of entrepreneurship," Small Business Economics, Springer, vol. 46(4), pages 619-637, April.
    7. Cueto, Begona & Pruneda, Gabriel, 2015. "Job Satisfaction of Wage and Self-Employed workers. Do preferences make a difference?," MPRA Paper 65432, University Library of Munich, Germany.
    8. Oladipo, Oluwasheyi S. & Platt, Katarzyna & Shim, Hyoung Suk, 2020. "Managerial Performance of a Female-Owned and Home-Based Firm," IZA Discussion Papers 13981, Institute of Labor Economics (IZA).
    9. Blanchflower, David G. & Saleheen, Jumana & Shadforth, Chris, 2007. "The Impact of the Recent Migration from Eastern Europe on the UK Economy," IZA Discussion Papers 2615, Institute of Labor Economics (IZA).
    10. Verheul, Ingrid & Thurik, Roy & Grilo, Isabel & van der Zwan, Peter, 2012. "Explaining preferences and actual involvement in self-employment: Gender and the entrepreneurial personality," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 325-341.
    11. Joachim Wagner, 2005. "Nascent and infant entrepreneurs in Germany. Evidence from the Regional Entrepreneurship Monitor (REM)," Labor and Demography 0504010, University Library of Munich, Germany.
    12. Ingrid Verheul & André Van Stel & Roy Thurik, 2006. "Explaining female and male entrepreneurship at the country level," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 18(2), pages 151-183, March.
    13. Aidis, Ruta & Estrin, Saul & Mickiewicz, Tomasz, 2008. "Institutions and entrepreneurship development in Russia: A comparative perspective," Journal of Business Venturing, Elsevier, vol. 23(6), pages 656-672, November.
    14. Silvia Ardagna & Annamaria Lusardi, 2009. "Where does regulation hurt? Evidence from new businesses across countries," NBER Working Papers 14747, National Bureau of Economic Research, Inc.
    15. Amelie Constant & Klaus F. Zimmermann, 2004. "Self-Employment Dynamics across the Business Cycle: Migrants versus Natives," Discussion Papers of DIW Berlin 455, DIW Berlin, German Institute for Economic Research.
    16. Coduras, Alicia & Saiz-Alvarez, José Manuel & Ruiz, Jesús, 2016. "Measuring Readiness for Entrepreneurship: An Information Tool Proposal," MPRA Paper 86603, University Library of Munich, Germany.
    17. Francesca Castellani & Eduardo Lora, 2014. "Is Entrepreneurship a Channel of Social Mobility in Latin America?," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 51(2), pages 179-194, November.
    18. Supriyo Das & Amit Kundu, 2019. "Benchmarking a country for efficiency improvement: a DEA-based approach," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 9(1), pages 1-17, December.
    19. Florian Scheuer, 2014. "Entrepreneurial Taxation with Endogenous Entry," American Economic Journal: Economic Policy, American Economic Association, vol. 6(2), pages 126-163, May.
    20. DavidG. Blanchflower & Chris Shadforth, 2009. "Fear, Unemployment and Migration," Economic Journal, Royal Economic Society, vol. 119(535), pages 136-182, February.

    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:wsi:ijitmx:v:01:y:2004:i:04:n:s0219877004000283. 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: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ijitm/ijitm.shtml .

    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.