Below you are asked to Explain Biotechnology industry and its activities. State which sector is the largest In terms of industry value. Furthermore, state the potential sources of external funding for biotechnology start-ups. Also explain why do biotechnology firms collaborate with external partners for innovations. And finally, describe how do biotechnology firms choose their innovation partners.
MGT2440 INDIVIDUAL ESSAY ASSESSMENT Title:
Networks and alliances in biotechnology Biotechnology industry are among the industries that have the highest rates of alliance formation. In 1988, Ernest & Young reported that more than 70% of the US biotechnology firms were involved in strategic alliances and on average, each firm had 10 partners. Indeed, OECD statistics also show that based on a literature-based survey (reports from the newspaper, trade journals, etc.), the number of alliances has increased from 45 in 1990 to 526 in 2006. Therefore, in this essay assignment, I would like you to explore further the networks and alliances in the biotech industry.
In your essay, please answer the following research questions:
1. Describe the biotechnology industry. What are the main activities of the industry? Which sector/segment of the industry is the largest in terms of industry value? Who are the key players?
2. What are the potential sources of external funding for biotechnology start-ups?
3. Why do biotechnology firms collaborate with external partners for innovation?
4. How do biotechnology firms choose their innovation partners?