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 ISSN 1996-3300

Innovation
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Insight and Best Practices in Biotechnology Commercialisation

Onyeka, C.J.

Reid, P
Successful commercialisation of academic research is of great importance to the development of a strong economy and subsequent re-investment in skills and infrastructure. The biological and medical sciences area has been shown to contribute a significant proportion of global research and development expenditure resulting in a high level of activity and competition amongst researchers to commercialise their work. This article reviews best practice in commercialisation and presents a model which will inform those seeking to improve the prospects for commercial success.



The Biotechnology Cluster in San Diego: An Analysis of IPO Activity and Probability of Success for Firms

Munteanu, R.
The biotech cluster in San Diego is dominated by small firms, with approximately 73% of the firms employing between 1 to 49 employees. Among the main important sources of financing for the biotech companies are venture capital and initial public offerings. In spite of the aggregate increase in the number of firms and employees in the biotech cluster, there is a high degree of heterogeneity at the level of individual firms. This paper uses data on the firms that have initiated an IPO offering between 1990-2000, and analyzes how the probability of “success” for these firms depends on various firm’s characteristics. I use two “success” measures and the empirical results indicate that the probability of success is positively influenced by the number of employees and the IPO amount.



The Development of India's Small Car Path

Becker-Ritterspach, Florian A.A.

Becker-Ritterspach, Jutta C.E.
This paper explores the emergence, consolidation and challenges to India’s small car path in the passenger car industry. The paper shows that this path can only be properly understood if we consider the interplay of a wider range of context conditions, including political, social, economic and infrastructural conditions. The paper shows that while the state has played a pivotal role in creating the path, it was the socio-economic conditions that channelled the political choices. The paper also shows that although the government’s role in developing and sustaining the path has changed from an entrepreneurial to a framework setting role, the prevailing socio-economic conditions keep channelling the political action towards a small car path.



Funding Models for High Tech Start-ups: How Do We Fund a Fantastic Future?

William Bains
Despite excellent science and a demand for the products, the European biotechnology industry has had limited success, and in the UK has collapsed almost entirely. A major reason for this is the behaviour of the investors in the industry, from actions ranging from systematic under-investment through manipulation of business processes to inappropriate public flotation. As a result, creating and funding of VC-backed biotechnology companies is falling rapidly. I suggest that there are several mechanisms to restart the biotechnology industry in Europe, based on innovative funding from business angels, new investment vehicles, and potentially the mutualisation of development of new products.



Business Process Outsourcing and India

Sumitro Mukherjee
This article explores the recent boom in business process outsourcing, spurred on by the rapid development of information technology. India is a major destination for BPO and provides a case study of strengths and weaknesses for its future in this field. Business Process Outsourcing is the leveraging of technology or specialist process vendors to provide and manage an organization’s critical and/or non-critical enterprise processes and applications. Outsourcing, Offshore-Outsourcing and Offshoring are used interchangeably despite important technical differences. Outsourcing involves the transfer of organizational function to a third party; when the third party is located in another country it is called Offshore-Outsourcing; whereas offshoring represents the transfer of an organizational function to another country, regardless of whether the work stays in the corporation or not. Outsourcing and offshoring are not new concepts to the global economy. Earlier, offshoring was mostly restricted to manufacturing through technology-transfer during the maturity and decline phases of product life cycle. Major advantages of outsourcing are cost-reduction, comparative advantage by division of labour and economies of scale, lower turn-around time, and data-backup for disaster management. Areas of concern are service quality, data-theft, attrition rate, privacy laws and personal-information misuse and credit-card frauds. There are other issues also like job-losses in the outsourcing country, cultural differences and information security. The Indian outsourcing industry, a fast growing and major investment area, should benefit from an impetus in coming years due to its increased focus on information security and a comprehensive IT Act.



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