christian bason
- Published in print:
- 2010
- Published Online:
- March 2012
- ISBN:
- 9781847426345
- eISBN:
- 9781447302681
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781847426345.003.0001
- Subject:
- Sociology, Organizations
More governments are realising the necessity of an innovation ecosystem. This chapter establishes the framework of an ecosystem of innovation, its relevance and four key dimensions — consciousness, ...
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More governments are realising the necessity of an innovation ecosystem. This chapter establishes the framework of an ecosystem of innovation, its relevance and four key dimensions — consciousness, capacity, co-creation and courage — as well as its main barriers and potentials for public sector innovation. The innovation ecosystem proposes an integrated way of looking at public organisations' innovation efforts that includes the key mutually dependent structures, processes and leadership roles that can drive or impede change within and beyond the public sector. Further, this chapter contends that building an innovation ecosystem across all its four dimensions greatly enhances its resilience: its capacity to tolerate the pressures and disturbances that will seek to diminish its stability and performance.Less
More governments are realising the necessity of an innovation ecosystem. This chapter establishes the framework of an ecosystem of innovation, its relevance and four key dimensions — consciousness, capacity, co-creation and courage — as well as its main barriers and potentials for public sector innovation. The innovation ecosystem proposes an integrated way of looking at public organisations' innovation efforts that includes the key mutually dependent structures, processes and leadership roles that can drive or impede change within and beyond the public sector. Further, this chapter contends that building an innovation ecosystem across all its four dimensions greatly enhances its resilience: its capacity to tolerate the pressures and disturbances that will seek to diminish its stability and performance.
Felix Cardenas, Tony Davila, and Daniel Oyon
- Published in print:
- 2016
- Published Online:
- June 2016
- ISBN:
- 9780199374441
- eISBN:
- 9780190609023
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199374441.003.0008
- Subject:
- Psychology, Social Psychology
Firms can develop disruptive innovation by setting up an innovation cell that functions as a corporate innovation unit securing new technology and marketing insights that in cooperation with its ...
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Firms can develop disruptive innovation by setting up an innovation cell that functions as a corporate innovation unit securing new technology and marketing insights that in cooperation with its business units could turn these technology and insights into commercial blockbusters. Innovation cells are to be located in leading engineering universities that strive for industrial liaison and technology transfer partnerships. The host university needs to create a specialized innovation ecosystem in which large firms and research laboratories coexist. The campus proximity fosters day-to-day interactions among different actors of the ecosystem, such as researchers, students, startups, venture capitalists, government entrepreneurial agencies, and other large companies. Innovation cells need to have a multidisciplinary team in which commercial–business development and technical–scientific experts work together to deliver market-ready prototypes and innovative business plans. These serve as evidence to the rest of the organization to support disruptive innovation product development.Less
Firms can develop disruptive innovation by setting up an innovation cell that functions as a corporate innovation unit securing new technology and marketing insights that in cooperation with its business units could turn these technology and insights into commercial blockbusters. Innovation cells are to be located in leading engineering universities that strive for industrial liaison and technology transfer partnerships. The host university needs to create a specialized innovation ecosystem in which large firms and research laboratories coexist. The campus proximity fosters day-to-day interactions among different actors of the ecosystem, such as researchers, students, startups, venture capitalists, government entrepreneurial agencies, and other large companies. Innovation cells need to have a multidisciplinary team in which commercial–business development and technical–scientific experts work together to deliver market-ready prototypes and innovative business plans. These serve as evidence to the rest of the organization to support disruptive innovation product development.
Marina Yue Zhang, Mark Dodgson, and David M. Gann
- Published in print:
- 2021
- Published Online:
- November 2021
- ISBN:
- 9780198861171
- eISBN:
- 9780191893124
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198861171.003.0008
- Subject:
- Business and Management, Innovation
This chapter explores how order emerges from chaos in China’s innovation machine. It emphasizes how innovation is emergent, evolutionary, and complex and cannot be centrally planned and controlled. ...
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This chapter explores how order emerges from chaos in China’s innovation machine. It emphasizes how innovation is emergent, evolutionary, and complex and cannot be centrally planned and controlled. Innovation involves experimentation, the initial growth of which requires some protection, but the scale and scope of which can be rapidly amplified in an interdependent digital economy. The challenges facing the innovation machine are outlined. These include the impact of the Covid-19 pandemic, and the impending clash of political ideology between China and the West manifested by a technology cold war over issues such as technological standards. The chapter argues that, despite numerous shortcomings, China’s innovation machine is remarkably successful and robust and can even strengthen as result of external pressures. It does, however, face specific internal policy challenges, including whether the government can maintain the pragmatism of recent policies with continued development of the market, and strengthened transparency on the nature and purpose of China’s approach to innovation, and the nation’s greater assumption of leadership roles in international forums. How China handles these challenges will significantly impact the future of global economic development and political cooperation.Less
This chapter explores how order emerges from chaos in China’s innovation machine. It emphasizes how innovation is emergent, evolutionary, and complex and cannot be centrally planned and controlled. Innovation involves experimentation, the initial growth of which requires some protection, but the scale and scope of which can be rapidly amplified in an interdependent digital economy. The challenges facing the innovation machine are outlined. These include the impact of the Covid-19 pandemic, and the impending clash of political ideology between China and the West manifested by a technology cold war over issues such as technological standards. The chapter argues that, despite numerous shortcomings, China’s innovation machine is remarkably successful and robust and can even strengthen as result of external pressures. It does, however, face specific internal policy challenges, including whether the government can maintain the pragmatism of recent policies with continued development of the market, and strengthened transparency on the nature and purpose of China’s approach to innovation, and the nation’s greater assumption of leadership roles in international forums. How China handles these challenges will significantly impact the future of global economic development and political cooperation.
Henry Chesbrough
- Published in print:
- 2019
- Published Online:
- December 2019
- ISBN:
- 9780198841906
- eISBN:
- 9780191878008
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198841906.003.0003
- Subject:
- Business and Management, Innovation
This chapter reviews the core ideas behind Open Innovation, discusses what it is and is not, and shows how it can deliver more value to organizations and to society. Outside-in Open Innovation ...
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This chapter reviews the core ideas behind Open Innovation, discusses what it is and is not, and shows how it can deliver more value to organizations and to society. Outside-in Open Innovation strengthens the current business and current business model, while inside-out Open Innovation searches for alternative businesses and business models. The chapter explores the connection between technology development and the business model, and examines the use of Open Innovation in intellectual property and in services. However, Open Innovation is not a panacea. Its boundary conditions and limitations must also be acknowledged. As with Chapter 1, the processes of generation in innovation must also be supported by equal attention to innovation dissemination and innovation absorption within the firm, in order for organizations to create and capture value from Open Innovation. Finally, Open Innovation is moving beyond collaborations between two actors, to a broader ecosystem focus that connects many actors together.Less
This chapter reviews the core ideas behind Open Innovation, discusses what it is and is not, and shows how it can deliver more value to organizations and to society. Outside-in Open Innovation strengthens the current business and current business model, while inside-out Open Innovation searches for alternative businesses and business models. The chapter explores the connection between technology development and the business model, and examines the use of Open Innovation in intellectual property and in services. However, Open Innovation is not a panacea. Its boundary conditions and limitations must also be acknowledged. As with Chapter 1, the processes of generation in innovation must also be supported by equal attention to innovation dissemination and innovation absorption within the firm, in order for organizations to create and capture value from Open Innovation. Finally, Open Innovation is moving beyond collaborations between two actors, to a broader ecosystem focus that connects many actors together.
christian bason
- Published in print:
- 2010
- Published Online:
- March 2012
- ISBN:
- 9781847426345
- eISBN:
- 9781447302681
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781847426345.003.0012
- Subject:
- Sociology, Organizations
Across the globe, public leaders are demonstrating how a significantly more conscious and systematic approach to creating innovative solutions can effectively address some of society's most pressing ...
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Across the globe, public leaders are demonstrating how a significantly more conscious and systematic approach to creating innovative solutions can effectively address some of society's most pressing societal challenges. The growing momentum of public sector innovation has evolved through awareness, cases and practice, barriers and practice. Innovation, like budgeting or human resource management, must become a natural discipline in government. Productivity imperative, growing citizen expectations, globalization, media, technology, demographic change, shocks and climate change are among the major driving forces that challenges public sector innovation. Unfortunately, most public sector organisations today are ill-suited to developing the kinds of radical new solutions that are needed. In order to make such ‘paradigmatic’ innovation much more likely, leaders in government must build an infrastructure of innovation — a public sector innovation ecosystem.Less
Across the globe, public leaders are demonstrating how a significantly more conscious and systematic approach to creating innovative solutions can effectively address some of society's most pressing societal challenges. The growing momentum of public sector innovation has evolved through awareness, cases and practice, barriers and practice. Innovation, like budgeting or human resource management, must become a natural discipline in government. Productivity imperative, growing citizen expectations, globalization, media, technology, demographic change, shocks and climate change are among the major driving forces that challenges public sector innovation. Unfortunately, most public sector organisations today are ill-suited to developing the kinds of radical new solutions that are needed. In order to make such ‘paradigmatic’ innovation much more likely, leaders in government must build an infrastructure of innovation — a public sector innovation ecosystem.
Wim Vanhaverbeke and Henry Chesbrough
- Published in print:
- 2014
- Published Online:
- December 2014
- ISBN:
- 9780199682461
- eISBN:
- 9780191762895
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199682461.003.0003
- Subject:
- Business and Management, Innovation
Open innovation and open business models are two concepts that have been launched by Henry Chesbrough (2003a; 2006a; 2007b). The chapter develops a classification scheme through the combination of ...
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Open innovation and open business models are two concepts that have been launched by Henry Chesbrough (2003a; 2006a; 2007b). The chapter develops a classification scheme through the combination of open–closed innovation and traditional vs. open business models. Furthermore, the chapter considers new product development or new business development as just one specific driver for competitive advantage. Product innovations may not be an option for companies producing commodities but their competitive drivers may be affected by product innovations of their (technology) partners. Reframing open innovation in this way allows us to shed light on innovation networks in which the instigators of the network are for instance customers or complementors (but not the innovators themselves) are benefitting. This approach results in a general classification scheme for open innovation research. The simplicity of the structure should make it attractive as a starting point for new developments or application areas in the open innovation literature.Less
Open innovation and open business models are two concepts that have been launched by Henry Chesbrough (2003a; 2006a; 2007b). The chapter develops a classification scheme through the combination of open–closed innovation and traditional vs. open business models. Furthermore, the chapter considers new product development or new business development as just one specific driver for competitive advantage. Product innovations may not be an option for companies producing commodities but their competitive drivers may be affected by product innovations of their (technology) partners. Reframing open innovation in this way allows us to shed light on innovation networks in which the instigators of the network are for instance customers or complementors (but not the innovators themselves) are benefitting. This approach results in a general classification scheme for open innovation research. The simplicity of the structure should make it attractive as a starting point for new developments or application areas in the open innovation literature.
christian bason
- Published in print:
- 2010
- Published Online:
- March 2012
- ISBN:
- 9781847426345
- eISBN:
- 9781447302681
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781847426345.003.0010
- Subject:
- Sociology, Organizations
With limited resources and rapidly growing needs, public organisations must invest in activities that create the desired value for society. To that end, organisations must measure whether they ...
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With limited resources and rapidly growing needs, public organisations must invest in activities that create the desired value for society. To that end, organisations must measure whether they contribute positively to that change. Why is there a need to measure? It's because there is a need to understand the value of one's work so people can improve upon it, and to be accountable, informing public policymaking and funding priorities. This chapter considers three distinct perspectives on measuring and learning in the context of public sector innovation: assessing the organisation's potential to innovate, learning from the individual innovation processes, and measuring the value of innovation. Further, to determine an organisation's total innovation potential is to analyse how it is faring on each of the four Cs, or dimensions of the innovation ecosystem.Less
With limited resources and rapidly growing needs, public organisations must invest in activities that create the desired value for society. To that end, organisations must measure whether they contribute positively to that change. Why is there a need to measure? It's because there is a need to understand the value of one's work so people can improve upon it, and to be accountable, informing public policymaking and funding priorities. This chapter considers three distinct perspectives on measuring and learning in the context of public sector innovation: assessing the organisation's potential to innovate, learning from the individual innovation processes, and measuring the value of innovation. Further, to determine an organisation's total innovation potential is to analyse how it is faring on each of the four Cs, or dimensions of the innovation ecosystem.
Henry Chesbrough, Wim Vanhaverbeke, and Joel West (eds)
- Published in print:
- 2014
- Published Online:
- December 2014
- ISBN:
- 9780199682461
- eISBN:
- 9780191762895
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199682461.001.0001
- Subject:
- Business and Management, Innovation
This book provides an examination of research conducted to date on open innovation, as well as an overview of what may be the most important, most promising, and most relevant research topics in this ...
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This book provides an examination of research conducted to date on open innovation, as well as an overview of what may be the most important, most promising, and most relevant research topics in this area during the next decade. As the research field is growing, it becomes increasingly difficult to keep an overview of the most important trends in open innovation research, of future research topics, and of the most interesting management challenges that are emerging in organizations practicing open innovation. The book is structured along four dimensions. Firstly, it provides an overview on how open innovation research has been changing over time. Next, it analyzes open innovation at different levels. Thirdly, it explores new application fields for open innovation. Finally, it manages and organizes open innovation.Less
This book provides an examination of research conducted to date on open innovation, as well as an overview of what may be the most important, most promising, and most relevant research topics in this area during the next decade. As the research field is growing, it becomes increasingly difficult to keep an overview of the most important trends in open innovation research, of future research topics, and of the most interesting management challenges that are emerging in organizations practicing open innovation. The book is structured along four dimensions. Firstly, it provides an overview on how open innovation research has been changing over time. Next, it analyzes open innovation at different levels. Thirdly, it explores new application fields for open innovation. Finally, it manages and organizes open innovation.
Gregory P. Pogue, Keela Thomson, Rosemary French, Francesca Lorenzini, and Arthur B. Markman
- Published in print:
- 2016
- Published Online:
- June 2016
- ISBN:
- 9780199374441
- eISBN:
- 9780190609023
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199374441.003.0009
- Subject:
- Psychology, Social Psychology
Building an innovative culture is a key goal of most companies. An open approach to innovation has been shown to offer important advantages accelerating this goal. Current models of innovation ...
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Building an innovative culture is a key goal of most companies. An open approach to innovation has been shown to offer important advantages accelerating this goal. Current models of innovation ecosystems do not provide a clear roadmap to visualize the best manner of bringing together the right types of people to accelerate startup and new product success. The coral reef model was developed to conceptually organize community social structures necessary to improve idea-to-product development within the historical trend of open innovation. In a reef structure, participating companies and innovators access necessary technical wisdom and market insight while gaining access to capital more quickly. The chapter includes an analysis of the Austin Technology Incubator, which serves as an example to help define the activities of community structures such as incubators and accelerators that assist new enterprises in a competitive business marketplace within the open innovation framework.Less
Building an innovative culture is a key goal of most companies. An open approach to innovation has been shown to offer important advantages accelerating this goal. Current models of innovation ecosystems do not provide a clear roadmap to visualize the best manner of bringing together the right types of people to accelerate startup and new product success. The coral reef model was developed to conceptually organize community social structures necessary to improve idea-to-product development within the historical trend of open innovation. In a reef structure, participating companies and innovators access necessary technical wisdom and market insight while gaining access to capital more quickly. The chapter includes an analysis of the Austin Technology Incubator, which serves as an example to help define the activities of community structures such as incubators and accelerators that assist new enterprises in a competitive business marketplace within the open innovation framework.
christian bason
- Published in print:
- 2010
- Published Online:
- March 2012
- ISBN:
- 9781847426345
- eISBN:
- 9781447302681
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781847426345.003.0011
- Subject:
- Sociology, Organizations
Innovation leadership is played out in a force field between inspiration and execution. Inspiration thrives on openness, divergence, motivation and creativity. Execution thrives on traits such as ...
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Innovation leadership is played out in a force field between inspiration and execution. Inspiration thrives on openness, divergence, motivation and creativity. Execution thrives on traits such as structure, discipline, focus and stamina. For public managers, working in a different way, involving a wider scope of people, utilising deep qualitative knowledge, and running a more open, experimental and collaborative process, will require a significant measure of courage. The leadership role in innovation depends on the type of organisation and function. This chapter explores four distinct leadership roles that relate to different levels of government: the visionary (politician), the enabler (top executive), 360 degree innovator (mid-level manager) and knowledge engineer (institutional head). Each position of leadership holds distinctive characteristics that can help drive innovation across the first three dimensions of the innovation ecosystem: consciousness, capacity and co-creation.Less
Innovation leadership is played out in a force field between inspiration and execution. Inspiration thrives on openness, divergence, motivation and creativity. Execution thrives on traits such as structure, discipline, focus and stamina. For public managers, working in a different way, involving a wider scope of people, utilising deep qualitative knowledge, and running a more open, experimental and collaborative process, will require a significant measure of courage. The leadership role in innovation depends on the type of organisation and function. This chapter explores four distinct leadership roles that relate to different levels of government: the visionary (politician), the enabler (top executive), 360 degree innovator (mid-level manager) and knowledge engineer (institutional head). Each position of leadership holds distinctive characteristics that can help drive innovation across the first three dimensions of the innovation ecosystem: consciousness, capacity and co-creation.
Wim Vanhaverbeke, Henry Chesbrough, and Joel West (eds)
- Published in print:
- 2014
- Published Online:
- December 2014
- ISBN:
- 9780199682461
- eISBN:
- 9780191762895
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199682461.003.0015
- Subject:
- Business and Management, Innovation
This chapter integrates the conclusions of the different chapters into a coherent picture. The chapters outlined how open innovation research should evolve in their particular research area. The ...
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This chapter integrates the conclusions of the different chapters into a coherent picture. The chapters outlined how open innovation research should evolve in their particular research area. The chapter integrate these ideas and crosslink them to each other, but it also focuses on topics that have not been covered and, in its opinion, still deserve more attention in the future.Less
This chapter integrates the conclusions of the different chapters into a coherent picture. The chapters outlined how open innovation research should evolve in their particular research area. The chapter integrate these ideas and crosslink them to each other, but it also focuses on topics that have not been covered and, in its opinion, still deserve more attention in the future.
Donald L. Drakeman, Lisa N. Drakeman, and Nektarios Oraiopoulos
- Published in print:
- 2022
- Published Online:
- January 2022
- ISBN:
- 9780195084009
- eISBN:
- 9780197626313
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780195084009.001.0001
- Subject:
- Biology, Biotechnology
Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize–winning discoveries, the biotech ...
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Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize–winning discoveries, the biotech industry grew to thousands of small companies around the world. Each sought to emulate what the major pharmaceutical companies had been doing for a century or more, but without the advantages of scale, scope, experience, and massive resources. How could a large collection of small companies, most with fewer than fifty employees, compete in one of the world’s most breathtakingly expensive and highly regulated industries? This book shows how biotech companies have met the challenge by creating nearly 40% more of the most important treatments for unmet medical needs. Moreover, they have done so with much lower overall costs. The book focuses on both the companies themselves and the broader biotech ecosystem that supports them. Its portrait of the crucial roles played by academic research, venture capital, contract research organizations, the capital markets, and pharmaceutical companies shows how a supportive environment enabled the entrepreneurial biotech industry to create novel medicines with unprecedented efficiency. In doing so, it also offers insights for any industry seeking to innovate in uncertain and ambiguous conditions. Looking to the future, it concludes that biomedical research will continue to be most effective in the hands of a large group of small companies as long as national healthcare policies allow the rest of the ecosystem to continue to thrive.Less
Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize–winning discoveries, the biotech industry grew to thousands of small companies around the world. Each sought to emulate what the major pharmaceutical companies had been doing for a century or more, but without the advantages of scale, scope, experience, and massive resources. How could a large collection of small companies, most with fewer than fifty employees, compete in one of the world’s most breathtakingly expensive and highly regulated industries? This book shows how biotech companies have met the challenge by creating nearly 40% more of the most important treatments for unmet medical needs. Moreover, they have done so with much lower overall costs. The book focuses on both the companies themselves and the broader biotech ecosystem that supports them. Its portrait of the crucial roles played by academic research, venture capital, contract research organizations, the capital markets, and pharmaceutical companies shows how a supportive environment enabled the entrepreneurial biotech industry to create novel medicines with unprecedented efficiency. In doing so, it also offers insights for any industry seeking to innovate in uncertain and ambiguous conditions. Looking to the future, it concludes that biomedical research will continue to be most effective in the hands of a large group of small companies as long as national healthcare policies allow the rest of the ecosystem to continue to thrive.
Geoffrey Owen and Michael M. Hopkins
- Published in print:
- 2016
- Published Online:
- May 2016
- ISBN:
- 9780198728009
- eISBN:
- 9780191794308
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198728009.001.0001
- Subject:
- Business and Management, Innovation, International Business
The book examines the evolution of a new industrial sector based on one of the most important technologies that has emerged in the last fifty years—biotechnology, the use of living organisms to ...
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The book examines the evolution of a new industrial sector based on one of the most important technologies that has emerged in the last fifty years—biotechnology, the use of living organisms to create useful products and services. The most important application of biotechnology has been in medicine—developing new drugs—and the book explains how US-based firms lead the commercializing of this technology, and why firms in other countries have failed to match what the leading American companies’ achievements. The book looks at the institutions and policies which have underpinned US biotechnology success: the US innovation of ‘ecosystem’, which comprises several interlocking elements and constitutes a powerful competitive advantage for US biotech firms. These include a higher education system with close links to industry, massive support from the Federal government for biomedical research and a financial system which supports young entrepreneurial firms in a science-based industry. In the light of US experience the book examines the performance of UK biotech firms, starting with the UK’s first dedicated biotech firm, Celltech, in 1980. Despite a promising start in the 1980s and 1990s, several leading UK firms failed, and investors lost confidence in the UK biotech sector. Only recently has the sector staged a revival, attracting fresh investment from the US as well from the UK. The story told here, based on interviews with industry participants, investors, and policy makers in the UK, Continental Europe, and the US, highlights one of the central issues facing governments in advanced industrial countries—how to create and sustain new science-based industries.Less
The book examines the evolution of a new industrial sector based on one of the most important technologies that has emerged in the last fifty years—biotechnology, the use of living organisms to create useful products and services. The most important application of biotechnology has been in medicine—developing new drugs—and the book explains how US-based firms lead the commercializing of this technology, and why firms in other countries have failed to match what the leading American companies’ achievements. The book looks at the institutions and policies which have underpinned US biotechnology success: the US innovation of ‘ecosystem’, which comprises several interlocking elements and constitutes a powerful competitive advantage for US biotech firms. These include a higher education system with close links to industry, massive support from the Federal government for biomedical research and a financial system which supports young entrepreneurial firms in a science-based industry. In the light of US experience the book examines the performance of UK biotech firms, starting with the UK’s first dedicated biotech firm, Celltech, in 1980. Despite a promising start in the 1980s and 1990s, several leading UK firms failed, and investors lost confidence in the UK biotech sector. Only recently has the sector staged a revival, attracting fresh investment from the US as well from the UK. The story told here, based on interviews with industry participants, investors, and policy makers in the UK, Continental Europe, and the US, highlights one of the central issues facing governments in advanced industrial countries—how to create and sustain new science-based industries.
Geoffrey Owen and Michael M. Hopkins
- Published in print:
- 2016
- Published Online:
- May 2016
- ISBN:
- 9780198728009
- eISBN:
- 9780191794308
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198728009.003.0001
- Subject:
- Business and Management, Innovation, International Business
This chapter introduces the term biotechnology and explains why it has been the subject of intense interest on the part of governments and investors around the world. It reviews the scientific ...
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This chapter introduces the term biotechnology and explains why it has been the subject of intense interest on the part of governments and investors around the world. It reviews the scientific advances, including the deciphering of DNA by Watson and Crick, which paved the way for the emergence of biotechnology, and describes the two key breakthroughs—recombinant DNA and monoclonal antibodies—which took place in the US and Britain in the 1970s. It draws some comparisons between biotechnology and semiconductors, noting the important role played in both sectors by newly formed entrepreneurial firms, and the dominance of the US. It also discusses the changing relationship between the new biotechnology firms and the established pharmaceutical companies.Less
This chapter introduces the term biotechnology and explains why it has been the subject of intense interest on the part of governments and investors around the world. It reviews the scientific advances, including the deciphering of DNA by Watson and Crick, which paved the way for the emergence of biotechnology, and describes the two key breakthroughs—recombinant DNA and monoclonal antibodies—which took place in the US and Britain in the 1970s. It draws some comparisons between biotechnology and semiconductors, noting the important role played in both sectors by newly formed entrepreneurial firms, and the dominance of the US. It also discusses the changing relationship between the new biotechnology firms and the established pharmaceutical companies.
Geoffrey Owen and Michael M. Hopkins
- Published in print:
- 2016
- Published Online:
- May 2016
- ISBN:
- 9780198728009
- eISBN:
- 9780191794308
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198728009.003.0008
- Subject:
- Business and Management, Innovation, International Business
Beginning with a review of the emergence of an internationally successful UK pharmaceutical industry in the post-war years, this chapter explores the polices employed by UK governments to support the ...
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Beginning with a review of the emergence of an internationally successful UK pharmaceutical industry in the post-war years, this chapter explores the polices employed by UK governments to support the biotech sector and describes similarities and differences in the approaches that successive UK governments have taken over the period 1980–2015. With the notable exception of the creation of Celltech, policy approaches under the Conservative governments which held office until 1997 focused on providing a supportive institutional environment for a broad range of industries—horizontal support, rather than vertical measures. In more recent years, as the biotech sector seemed to be at risk of decline, a more interventionist approach has been taken. The Conservative-Liberal coalition government (2010–15) adopted a more fully fledged industrial policy, with substantial vertical support measures for the sector in recent years. The chapter explores whether the government could have done more to support biotech firms.Less
Beginning with a review of the emergence of an internationally successful UK pharmaceutical industry in the post-war years, this chapter explores the polices employed by UK governments to support the biotech sector and describes similarities and differences in the approaches that successive UK governments have taken over the period 1980–2015. With the notable exception of the creation of Celltech, policy approaches under the Conservative governments which held office until 1997 focused on providing a supportive institutional environment for a broad range of industries—horizontal support, rather than vertical measures. In more recent years, as the biotech sector seemed to be at risk of decline, a more interventionist approach has been taken. The Conservative-Liberal coalition government (2010–15) adopted a more fully fledged industrial policy, with substantial vertical support measures for the sector in recent years. The chapter explores whether the government could have done more to support biotech firms.
Geoffrey Owen and Michael M. Hopkins
- Published in print:
- 2016
- Published Online:
- May 2016
- ISBN:
- 9780198728009
- eISBN:
- 9780191794308
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198728009.003.0009
- Subject:
- Business and Management, Innovation, International Business
This concluding chapter of the book summarises the evidence of prior chapters, showing why the US lead in biotechnology was difficult for the UK and other countries to follow. The US lead in ...
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This concluding chapter of the book summarises the evidence of prior chapters, showing why the US lead in biotechnology was difficult for the UK and other countries to follow. The US lead in recombinant DNA technology, is contrasted with the more difficult technical challenges faced by UK pioneers in monoclonal antibodies, and the subsequent focus of the UK sector on more established chemistry-based drug discovery approaches, rather than new biotechnologies. The head start the US has enjoyed, both in technology and institutional readiness, is further complemented by the huge scale in the US of federal support and investor support for high-tech firms. While the UK and other countries will continue to struggle to match these advantages, the development of more US-like institutions are expected to put the UK in a position where imitation of US-style biotech firms is now more realistic than in the past.Less
This concluding chapter of the book summarises the evidence of prior chapters, showing why the US lead in biotechnology was difficult for the UK and other countries to follow. The US lead in recombinant DNA technology, is contrasted with the more difficult technical challenges faced by UK pioneers in monoclonal antibodies, and the subsequent focus of the UK sector on more established chemistry-based drug discovery approaches, rather than new biotechnologies. The head start the US has enjoyed, both in technology and institutional readiness, is further complemented by the huge scale in the US of federal support and investor support for high-tech firms. While the UK and other countries will continue to struggle to match these advantages, the development of more US-like institutions are expected to put the UK in a position where imitation of US-style biotech firms is now more realistic than in the past.