Prior-Learning, Cumulative Science Experiences and the Absorptive Capacity of Bio-Entrepreneurs: A Case of the East Midlands Region, England

Abstract

In the modern healthcare and medical sectors corporate bio-pharmaceutical firms continue to scale down their in-house research and development (R&D) activities in favour of outsourcing the services to bio-tech ventures. These small but, entrepreneurial research-oriented organisations have increased dramatically. They are predominantly owned by bio-entrepreneurs who are extensively experienced scientists. In the science-based industry they operate in, innovation "ecosystems" consisting of global business and social networks are a common feature. As such, they have to consistently exploit them to complement the knowledge gaps in their enterprises. In that context, the paper sets out to investigate five bio-entrepreneurs currently active in biotechnology within the East Midlands region in England. It particularly examines the role performed by their prior-learning and their cumulative science experiences in recognising, assimilating and productively applying science-related knowledge acquired in their innovation "ecosystems".