Transformative technology and institutional transformation: Coevolution of biotechnology venture firms and the institutional framework in Japan [An article from: Research Policy]

This digital document is a journal article from Research Policy, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
Japan is developing a national strategy for biotechnology, which it sees as a transformative technology of strategic importance. Significant institutional transformation has occurred, including changes to the legal structure of universities, partly in an effort to enhance technology transfer. These and other institutional changes are proving conducive to entrepreneurship, and have developed alongside an increase in the number of biotechnology venture firms. This paper presents an overview of these institutional transformations, in the light of recent deregulation and legislative changes. It posits that the emergence of bioventure firms, the increase in their number and, arguably, their changing nature are manifestations of the coevolution of organizations with changes to the institutional framework. Finally, it gives examples of several bioventures, based on interviews conducted with the founders and chief scientists in Japan, and reveals some of the salient characteristics of these firms.