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Are Biotechnology Startups Different?

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  • Herv'e Lebret

Abstract

In the domain of technology startups, biotechnology has often been considered as specific. Their unique technology content, the type of founders and managers they have, the amount of venture capital they raise, the time it takes them to reach an exit as well as the technology clusters they belong to are seen as such unique features. Based on extensive research from new databases, the author claims that the biotechnology startups are not as different as it might have been claimed: the amount of venture capital raised, the time to exit, their geography are indeed similar and even their equity structure to founders and managers have similarities. The differences still exist, for example the experience of the founders, the revenue and profit level at exit.

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  • Herv'e Lebret, 2018. "Are Biotechnology Startups Different?," Papers 1805.12108, arXiv.org.
    • Handle: RePEc:arx:papers:1805.12108
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    References listed on IDEAS

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    1. Daniel Tzabbar & Jaclyn Margolis, 2017. "Beyond the Startup Stage: The Founding Team’s Human Capital, New Venture’s Stage of Life, Founder–CEO Duality, and Breakthrough Innovation," Organization Science, INFORMS, vol. 28(5), pages 857-872, October.
    2. Zucker, Lynne G & Darby, Michael R & Brewer, Marilynn B, 1998. "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review, American Economic Association, vol. 88(1), pages 290-306, March.
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