Determinants of Biontrepreneurship Success: An Examination of Biotechnology-Owned Businesses


Alborno, Ayat Jamal and Logeswaran, Aravindan Kalisri and Yap, Voon Chong (2022) Determinants of Biontrepreneurship Success: An Examination of Biotechnology-Owned Businesses. In: Postgraduate Social Science Colloquium 2022, 1 - 2 June 2022, Online.

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Background - Nations, since the age of civilization, are contesting to advance scientific knowledge and enhance technological prowess in their own countries, towards achieving a considerable location and significant contribution on the scientific world map. Thus, remarkably important to uplift the integration of three dimensions: science, technology, and business. Bioentrepreneurship is a relatively new and distinct field of entrepreneurship, mainly flowing innovation from academia to industry. Bioentrepreneurship is defined as the entrepreneurial business based on biotechnology, simply it is the alliance of two disciplines influenced by: business, and science. According to the biotechnology statistics, the industry is growing rapidly, and experts predict that a CAGR (Compound Annual Growth Rate) will reach 7.4% by 2025. That should lead to an overall industry worth of $727.1 billion. Purpose - The core aim of this paper is to examine bioentrepreneurship success factors and examine literatures in the area of bioentrepreneurship hence to identify relevant theories to be linked with this type of projects. By the investigation Innovation Entrepreneurship Theory whereby define this theory as: the innovator who perceives the opportunities to innovate and carry out new combinations of enterprises, and helps the process of development in an economy. Wheras, most current research in bioentrepreneur field is conducted on the developed biological _ pure science_ sides. This research is poised to discover the commercial, managerial and bioentreprenual determinants that can encourage scientists in academic and practical fields for establishing and growing a successful bioentrepreneurship company. Consequently, those companies' role is to transfer the fundamental research, which means scientists’ knowledge and their practicality, into effective products or services in order to impact successfully on the economic growth industry. The study is underpinned by Innovation Entrepreneurship theory and Economic Entrepreneurship theory. Design/methodology/approach - The sample will investigate the level of alliance capabilities in bioentrepreneurs success factors and the impact of economic growth. The study resides on a positivistic paradigm and will adopt a quantitative method using survey questionnaires to produce empirical outcomes and validation in corresponding to research questions and objectives. Variance-based structural equation modeling (PLS-SEM) will be employed utilized as the analysis tool. The sampling unit of this study will be included bio-startups that must be currently running, in order to adhere to the alliance capabilities framework. It is anticipated to participate in this survey total of 400 candidates adults who belong to the business incubators and accelerators for universities and concerned ministries. Research limitations - This study might face some limitations related to the number of participants because this type of projects are limited so far and the findings of this study will be offer new. There are possibilities researchers have published their papers during my research journey equally significant for this research. Finding/Expected Contributions - The outcome is expected to provide impetus to the bioentrepreneurship body of knowledge. In addition, contributes to bridging the gap between scientists and the business marketplace by determining the managerial, commercial, and entrepreneurial needed skills. Moreover, it would contribute to defining factors that guarantee their patent. On the other hand, this study would contribute to leading investors to foster an understanding of the significance of this type of project and its success factors to encourage them to fund start-up bioentrepreneurship. As well as, provide insights into boosting their participation in the economic growth industry. Originality/value - Although few scientists and academics investigating the role of bioentrepreneurship and its effect on economics, these studies produced inconclusive results that require further investigation. In this study, Innovation Entrepreneurship theory and Economic Entrepreneurship theory will be applied to develop theoretical and practical skills at the individual and (organizational) levels. The paper also attempts to examine two emerging dimensions: investors willing to fund the bioentrepreneurship, and the scientists' possibility to engage in the marketplace as a part of economic growth.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Bioentrepreneurship, biotechnology, entrepreneurship, economy, technology transfer, development, bio-business, bio-strtups, quantitative research.
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28-70 Management. Industrial Management > HD60-60.5 Social responsibility of business
Divisions: Faculty of Management (FOM)
Depositing User: Ms Suzilawati Abu Samah
Date Deposited: 15 Aug 2022 00:20
Last Modified: 06 Oct 2022 01:30


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