How technological innovation affects the structure of an industry: entrepreneurship evolution in the biotechnology and pharmaceutical industry since 1980 |
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| Authors: | Jieun Jeon Suckchul Hong Taeyong Yang |
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| Institution: | 1. Graduate School of Innovation and Technology Management, Korea Advanced Institute of Science and Technology (KAIST), Daejeon, Republic of Korea;2. Department of R&3. D Strategy, Korea Health Industry Development Institute, Chungcheongbuk-do, Republic of Korea |
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| Abstract: | Challenges faced by the biotechnology and pharmaceutical industry, including reduced R&D productivity and the expiration of drugs that are high in demand, are recently being addressed through technological innovation. Such innovations are highly likely to change the structure and functioning of the industry. Since 2000, biotechnology and pharmaceutical companies have actively made strategic alliance, and technological innovations have changed the source of innovation from R&D to entrepreneurship within the industry. In this study, we identify the evolution of entrepreneurship and discuss the changes caused by technological advancements since 1980 by analysing patterns of exporting and acquiring technology data from Medtrack. Over difference period, biopharmaceutical firms have gained new knowledge and improved technology, and have implemented this newly acquired knowledge and innovation to introduce drugs to the market. |
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| Keywords: | Evolution of entrepreneurship biotechnology innovation network analysis |
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