This chapter studies the role played by small entrepreneurial firms and large companies in the international biotechnology industry. The biotechnology industry is one of the main examples of current industries that are characterized by “hypercompetition”, with a high degree of uncertainty about the combined effects of both new technologies and new market structures. It is an example of an industry with Schumpeterian competition where revolutionary changes in technology and innovative new products and processes have the potential to threaten the position of existing market leaders and their product-market positions. It is also a sector where we find a large number of R&D alliances, in particular between large and small companies.
|Title of host publication||Strategic entrepreneurship|
|Subtitle of host publication||creating a new mindset|
|Editors||M Camp, D Sexton, M Hitt, D Ireland|
|Place of Publication||London|
|Publication status||Published - 1 Jan 2002|