What Does it Take to Become a Biotech Hot Spot?

Jun Koo, Jonghoon Bae and Dohyeong Kim
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Jun Koo: Department of Public Administration, College of Political Science and Economics, Korea University, Anam-Dong 5-1, Seongbuk-Gu, Seoul 136-701, Korea
Jonghoon Bae: School of Business, Korea University, Anam-Dong 5-1, Seongbuk-Gu, Seoul 136-701, Korea
Dohyeong Kim: Department of Public Administration, North Carolina Central University, 1801 Fayetteville St, Durham, NC 27707, USA

Environment and Planning C, 2009, vol. 27, issue 4, 665-683

Abstract: The biotech industry is considered to be the next growth engine by many policy makers and economic development scholars. However, our understanding of how the biotech industry evolves and grows is still quite limited. In this study we examine how the industry began and grew, on the basis of a case study and statistical analysis. A case study of the Raleigh–Durham area reveals that the region was fortunate to have strong political leadership accompanied by scientific, industrial, and entrepreneurial assets that set off the initial spark of the biotech growth in the region. In the study's statistical analysis we use the tripod approach to examine the growth of the biotech sector. The results show that the complex interplay of knowledge creation, commercialization, and retention factors determines the growth path of the biotech industry.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envirc:v:27:y:2009:i:4:p:665-683

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