Research Strategies in Science-based Start-ups

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Research Strategies in Science-based Start-ups

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dc.contributor.author Valentin, Finn en_US
dc.contributor.author Dahlgren, Henrich en_US
dc.contributor.author Lund Jensen, Rasmus en_US
dc.date.accessioned 2009-02-04T10:26:27Z
dc.date.available 2009-02-04T10:26:27Z
dc.date.issued 2007-01-02T00:00:00Z en_US
dc.identifier.isbn 8778732026 en_US
dc.identifier.uri http://hdl.handle.net/10398/7214
dc.description.abstract Although biotech start-ups fail or succeed based on their research few attempts have been made to examine if and how they strategize in this core of their activity. Popular views on Dedicated Biotech Firms (DBFs) see the inherent uncertainty of research as defying notions of strategizing, directing instead the attention to the quality of their science, or the roles of boards, management, and collaborative networks etc. Using a unique comprehensive dataset on Danish and Swedish biotech start-ups in drug discovery this paper analyzes their research strategies. Adopting a Simonean point of departure we develop a contingency view on complex problem solving which structures the argument into three steps: 1) Characterising the problem architectures addressed by different types of DBFs; 2) Testing and confirming that DBFs form requisite research strategies, by which we refer to problem solving approaches developed as congruent responses to problem architectures; 3) Testing and confirming that financial valuation of firms is driven by achievements conforming to requisite research strategies. These strategies, in turn, require careful combination of multiple dimensions of research. Findings demonstrate that Shonhoovens classical argument that "strategy matters" is valid not only for the larger high-tech firms covered by her study, but also for small research-based start-ups operating at the very well springs of knowledge where science directly interacts with technologies. Even though a lot more research is needed along these lines, these findings offer new implications for the understanding, management, and financing of these firms. JEL Codes: L25, L65, O32 en_US
dc.format.extent 28 s. en_US
dc.language eng en_US
dc.relation.ispartofseries DRUID Working paper;2006-011 en_US
dc.subject.other bioteknologi en_US
dc.subject.other research strategy en_US
dc.subject.other discovery fields en_US
dc.subject.other valuation en_US
dc.subject.other performance measures en_US
dc.title Research Strategies in Science-based Start-ups en_US
dc.type wp en_US
dc.accessionstatus modt07jan02 mielmo en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Industriøkonomi og Virksomhedsstrategi en_US
dc.contributor.departmentshort IVS en_US
dc.contributor.departmentuk Department of Industrial Economics & Strategy en_US
dc.contributor.departmentukshort IES en_US
dc.idnumber 8778732026 en_US
dc.publisher.city København en_US
dc.publisher.year 2006 en_US
dc.title.subtitle Effects on Performance in Danish and Swedish Biotechnology en_US


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