With increasing dynamics and complexity in the biotechnology industry, pharmaceutical companies are forced to broaden the scope of their R&D operations, increasingly relying on external sources of new knowledge. In this context, corporate venturing emerges as an interesting means to exploit new entrepreneurial sources of innovation. By investing in academic spin-offs, and thereby establishing relationships with academic R&D actors, knowledge dispersed in scientific and academic networks can be accessed by the pharmaceutical companies. In this way, equity investments in academic spinoffs present a potential to improve the investors’ innovation performance. Based on a study of 97 corporate-backed academic spin-offs in the biotech field, this paper investigates how structural characteristics of these spin-offs’ R&D networks influence the innovativeness of big pharmaceutical companies that provide venture capital to the spin-offs. In particular, the effect of a spin-off ’s prominence in its knowledge network is analyzed, using different network centrality measures. The results obtained show that investments in academic spin-offs holding prominent positions in their R&D networks significantly contribute to the innovativeness of their investors, in terms of the number of patents resulting from these collaborations.

Network Prominence and Innovation: An Empirical Analysis of Corporate-backed Biotech Spin-offs / Mascia, D; Magnusson, M.; Cicchetti, A.. - In: INNOVATION. - ISSN 1447-9338. - 7:1(2005), pp. 7-22. [10.5172/impp.2005.7.1.7]

Network Prominence and Innovation: An Empirical Analysis of Corporate-backed Biotech Spin-offs

MASCIA D;
2005

Abstract

With increasing dynamics and complexity in the biotechnology industry, pharmaceutical companies are forced to broaden the scope of their R&D operations, increasingly relying on external sources of new knowledge. In this context, corporate venturing emerges as an interesting means to exploit new entrepreneurial sources of innovation. By investing in academic spin-offs, and thereby establishing relationships with academic R&D actors, knowledge dispersed in scientific and academic networks can be accessed by the pharmaceutical companies. In this way, equity investments in academic spinoffs present a potential to improve the investors’ innovation performance. Based on a study of 97 corporate-backed academic spin-offs in the biotech field, this paper investigates how structural characteristics of these spin-offs’ R&D networks influence the innovativeness of big pharmaceutical companies that provide venture capital to the spin-offs. In particular, the effect of a spin-off ’s prominence in its knowledge network is analyzed, using different network centrality measures. The results obtained show that investments in academic spin-offs holding prominent positions in their R&D networks significantly contribute to the innovativeness of their investors, in terms of the number of patents resulting from these collaborations.
Network Prominence and Innovation: An Empirical Analysis of Corporate-backed Biotech Spin-offs / Mascia, D; Magnusson, M.; Cicchetti, A.. - In: INNOVATION. - ISSN 1447-9338. - 7:1(2005), pp. 7-22. [10.5172/impp.2005.7.1.7]
File in questo prodotto:
File Dimensione Formato  
Mascia_Magnusson_Cicchetti 1995.pdf

Solo gestori archivio

Licenza: DRM non definito
Dimensione 132.13 kB
Formato Adobe PDF
132.13 kB Adobe PDF   Visualizza/Apri
Pubblicazioni consigliate

Caricamento pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/187674
Citazioni
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact