Doctoral thesis of philosophy how do business networks influence the commercialisation of innovative new technologies a study of the australian biotechnology sector

How Business Networks Influence the Commercialisation of Innovative New Technologies? A Study of the Australian Biotechnology Sector A thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy Avni Misra B.Sc (University of Delhi, India) M.Sc (University of Rajasthan, India) MBM (RMIT University, Australia) School of Economics, Finance and Marketing College of Business RMIT University August 2018 Jai Baba Saccha Fakir Jai Baba Makhdum Declaration I certify that except where due acknowledgement has been made, the work is that of the author alone; the work has not been submitted previously, in whole or in part, to qualify for any other academic award; the content of the thesis is the result of work which has been carried out since the official commencement date of the approved research program; any editorial work, paid or unpaid, carried out by a third party is acknowledged; and, ethics procedures and guidelines have been followed I acknowledge the support I have received for my research through the provision of an Australian Government Research Training Program Scholarship Avni Misra Date of Submission: August 2018 ii Acknowledgements From the outset, this research has been a joy and privilege, made possible by the generous help and support of countless people both at RMIT University and beyond First, I would like to thank the Almighty, my parents (Mr Jitendera Misra and Mrs Neelam Misra) and my special friends Baba (Mr Surinder Sharma) and Ms Bindu Ahuja for giving me their rock-solid support and blessings in every form to help me achieve my goals Many people have supported and enriched my PhD journey, and this thesis is a result of the faith they showed in me and the support they provided during the ups and downs From the beginning, my supervisors—Professor Mike Reid and Dr Marion Steel—have provided me with incredible support and guidance I not have enough words to thank you both for making this possible for me I can proudly say I had the best supervisory team at RMIT University You have challenged my thinking collaboratively and constructively and have helped in shaping my career towards becoming an academic I would also like to thank you both for being so patient and supportive during the hard times—you always encouraged me and motivated me to aim higher and see the light at the end of the tunnel Thank you for sharing your personal and professional experiences to provide solutions for any issues that I faced during this journey In addition, I thank Professor Tim Fry and the RMIT School of Economics, Finance and Marketing for providing me with the financial support and facilities that made this journey possible, especially the support provided for conference-related travel and stay The experiences were very inspiring I have valued the wise counsel of many, including Associate Professor Angela Dobele, Professor Lisa Farrell, Kathleen Griffiths, Dr Bernardo Figueiredo, Dr Kieran Tierney, Jane Fry, Associate Professor Aston De Silva, Dr Sandy Fitzgerald and others at RMIT University I am grateful for their time and generous advice to help me solve issues I was facing while writing my thesis They were also very motivational and provided me with encouragement, inspiration and whiskey and beer One of the highlights of conducting this research was the opportunity to meet and work with many talented experts from the Australian biotechnology industry Their generosity, iii kindness and time is highly appreciated In particular, I thank Mr Glenn Cross, Ms Tanya Daw and Ms Jo Beamsley from AusBiotech There are also many who cannot be named in the thesis for the sake of confidentiality, but I am deeply indebted to them all for their contributions My thesis would not have been possible without the support and humour that was generously contributed by my friends Manish, Anshuli, Karan, Alexander, Parineeta, Pooja, Claudia, Robyn, Saskia, Aman, Shekhar, Akash, Brijesh, Nupur, Sally, Jonathan, Alla, Walla and many more You all know who you are and I thank you for your understanding while I have been absent In addition, I thank Mohit and Anjali, members of my extended family, for constant support and inquiries about my progress and the encouragement to ‘get it done’—without which completing this thesis would not have been possible I would also like to thank the person who was there when I started but did not make it with me to the end of this journey His contributions to support me at the beginning of this journey are appreciated Lastly, I would like to thank Elite Editing for doing a great job in editing this thesis and editorial intervention was restricted to Standards D and E of the Australian Standards for Editing Practice iv To Mum, Dad and Baba v Table of Contents Chapter 1: Introduction to Research 1.1 Context and Questions 1.2 Research Problem 10 1.3 Thesis Three-Paper Format 11 1.4 Thesis Structure 18 1.5 Summary 19 Chapter 2: A Conceptual Model of the Required Network Effects for Commercialisation of new Biotechnology Innovations (Paper 1) 20 2.1 Introduction 21 2.2 Theoretical Focus and Key Concepts 24 2.3 Methodology 34 2.4 Analysis and Results 41 2.5 Conclusion and Implications 55 Appendix A: Journal Articles Analysed For Content Analysis 61 Business Articles for Content Analysis 69 Appendix B: Percentage distribution of selected articles 70 Chapter 3: Network-Based Barriers and Promoters from Biotechnology Labs to Australian Markets (Paper 2) 71 3.1 Introduction 72 3.2 Theoretical Background 75 3.3 Research Methods 83 3.4 Empirical Findings 88 3.5 Discussion 109 3.6 Contribution 119 3.7 Limitations 122 Chapter 4: Ecosystem Mechanics and Their Effects on the Process of Biotechnology Commercialisation (Paper 3) 123 4.1 Introduction 124 4.2 Theoretical Background 126 4.3 Development of the Conceptual Framework 128 4.4 Methodology 143 4.5 Key Findings 147 4.6 Discussion 158 4.7 Conclusions and Implications 163 Chapter 5: Discussion and Conclusion 167 5.1 Purpose of the Study 167 5.2 Theoretical Contribution 171 5.3 Implications for Industry 181 5.4 Research Limitations 185 5.5 Future Research 187 5.6 Final Summary 189 REFERENCES 191 APPENDIX 234 Interview Instrument for Biotechnology Industry Experts 234 vi APPENDIX 235 Interview Instrument for Venture Capitalists 235 APPENDIX 237 Letter of ethics approval for this research 237 vii List of Figures Figure 1: Figure of Inductive Content Analysis 38 Figure 3: Biotechnology Commercialisation Process 42 Figure 3: Conceptual model showing different network effects on the biotechnology commercialisation process 51 Figure 4: Conceptual model showing different network effects on the biotechnology commercialisation process 78 Figure 5: Revised framework showing network barriers and promoters during different stages of the biotechnology commercialisation process 110 Figure 6: Preliminary framework showing the effects of network dynamics on the process of biotechnology commercialisation 129 Figure 7: Revised framework showing the interactions related to the effects of network dynamics 160 viii List of Tables Table 1: Effect of ARA Network Components on the Innovation Process 28 Table 2: Effect of ARA Network Components on the Commercialisation Process 31 Table 3: Network Effects and its Components 40 Table 4: The Phases and Stages of Biotechnology Commercialisation Process 43 Table 5: Types of Network Influences 46 Table 6: Types of Network Outcomes 47 Table 7: List of Participant Profiles 85 Table 8: The Codes and Frequency of Key Codes from the Data 89 Table 9: Respondent Profiles Showing Differences in Motivation 97 Table 10: Characteristics of Rigid and Fluid Structures 135 Table 11: Overview of Interview Participant Profiles 144 Table 12: Outcomes of Thematic Analysis of the Interview Data 148 Table 13: Showing Theoretical Contributions for Study 172 Table 14: Showing Theoretical Contributions of Study 175 Table 15: Showing Theoretical Contributions of Study 179 ix List of Abbreviations ARA Actor-Resource-Activity BCP Biotechnology commercialisation process DCO Definite Commercial Outcome ECO Expected Commercial Outcome IPRs Intellectual Property Rights MNC Multi-national Companies PPP Public–Private Partnership TCO Technology Commercialisation Office TTO Technology Transfer Office VC Venture Capitalist x Powers, J B., & McDougall, P P (2005) University start-up formation and technology licensing with firms that go public: a resource-based view of academic entrepreneurship Journal of business venturing, 20(3), 291-311 Powell, W W., Koput, K W., & Smith-Doerr, L (1996) Interorganizational collaboration and the locus of innovation: Networks of learning in biotechnology Administrative science quarterly, 116-145 Powell, W W., Koput, K W., Bowie, J I., & Smith-Doerr, L (2002) The spatial clustering of science and capital: Accounting for biotech firm-venture capital relationships Regional Studies, 36(3), 291-305 Phillips, J., & Cross, G (2018) CEO Biotechnology, 28(1), and Chair report Australasian Prajogo, D I (2016) The strategic fit between innovation strategies and business environment in delivering business performance International Journal of Production Economics, 171, 241-249 Price, C., Huston, R., & Meyers, A D (2008) A new approach to improve technology commercialisation in university medical schools Journal of Commercial Biotechnology, 14(2), 96-102 Pucci, T., Runfola, A., Guercini, S., & Zanni, L (2018) The role of actors in interactions between “innovation ecosystems”: drivers and implications IMP Journal Pyka, A., & Saviotti, P (2001) Innovation networks in the biotechnology-based sectors (No 205) Volkswirtschaftliche Diskussionsreihe, Institut für Volkswirtschaftslehre der Universität Augsburg Q Qi Dong, J., McCarthy, K J., & Schoenmakers, W W (2017) How central is too central? Organizing interorganizational collaboration networks for breakthrough innovation Journal of Product Innovation Management, 34(4), 526-542 Qu, S Q., & Dumay, J (2011) The qualitative research interview Qualitative research in accounting & management, 8(3), 238-264 R Rampersad, G., Quester, P., & Troshani, I (2010) Managing innovation networks: Exploratory evidence from ICT, biotechnology and nanotechnology networks Industrial Marketing Management, 39(5), 793-805 223 Ramström, J (2008) Inter-organizational meets inter-personal: An exploratory study of social capital processes in relationships between Northern European and ethnic Chinese firms Industrial Marketing Management, 37(5), 502-512 Ranganathan, R., & Rosenkopf, L (2014) Do ties really bind? The effect of knowledge and commercialization networks on opposition to standards Academy of Management Journal, 57(2), 515-540 Raftery, J., McGeorge, D., & Walters, M (1997) Breaking up methodological monopolies: a multi-paradigm approach to construction management research Construction Management & Economics, 15(3), 291-297 Rasmussen, E., Moen, Ø., & Gulbrandsen, M (2006) Initiatives to promote commercialization of university knowledge Technovation, 26(4), 518-533 Reingen, P H., & Kernan, J B (1986) Analysis of referral networks in marketing: Methods and illustration Journal of Marketing Research, 370-378 Reuer, J J., & Devarakonda, R (2017) Partner selection in R&D collaborations: Effects of affiliations with venture capitalists Organization Science, 28(3), 574-595 Ritter, T., & Gemünden, H G (2003) Interorganizational relationships and networks: An overview Journal of business research, 56(9), 691-697 Ritter, T., Wilkinson, I F., & Johnston, W J (2004) Managing in complex business networks Industrial marketing management, 33(3), 175-183 Reagans, R., & McEvily, B (2003) Network structure and knowledge transfer: The effects of cohesion and range Administrative science quarterly, 48(2), 240-267 Reagans, R., & Zuckerman, E W (2001) Networks, diversity, and productivity: The social capital of corporate R&D teams Organization science, 12(4), 502-517 Rochford, L., & Rudelius, W (1997) New product development process: stages and successes in the medical products industry Industrial marketing management, 26(1), 67-84 Rodan, S., & Galunic, C (2004) More than network structure: How knowledge heterogeneity influences managerial performance and innovativeness Strategic management journal, 25(6), 541-562 Roesler, C., & Broekel, T (2017) The role of universities in a network of subsidized R&D collaboration: The case of the biotechnology-industry in Germany Review of Regional Research, 37(2), 135-160 Rogers, E M (1976) New product adoption and diffusion Journal of consumer Research, 2(4), 290-301 224 Rojas, M G A., Solis, E R R., & Zhu, J J (2018) Innovation and network multiplexity: R&D and the concurrent effects of two collaboration networks in an emerging economy Research Policy, 47(6), 1111-1124 Roijakkers, N., & Hagedoorn, J (2006) Inter-firm R&D partnering in pharmaceutical biotechnology since 1975: Trends, patterns, and networks Research policy, 35(3), 431-446 Rong, K., Lin, Y., Shi, Y., & Yu, J (2013) Linking business ecosystem lifecycle with platform strategy: a triple view of technology, application and organisation International journal of technology management, 62(1), 75-94 Rong, K., Hu, G., Hou, J., Ma, R., & Shi, Y (2013) Business ecosystem extension: facilitating the technology substitution International Journal of Technology Management, 63(3-4), 268-294 Romero, F C (2018) Social Network Analysis and the Study of University Industry Relations In Encyclopedia of Information Science and Technology, Fourth Edition (pp 7150-7160) IGI Global Rosenberg, N (1994) Exploring the black box: Technology, economics, and history Cambridge University Press Rothaermel, F T., & Deeds, D L (2004) Exploration and exploitation alliances in biotechnology: A system of new product development Strategic management journal, 25(3), 201-221 Rothaermel, F T., & Thursby, M (2007) The nanotech versus the biotech revolution: Sources of productivity in incumbent firm research Research Policy, 36(6), 832-849 Rothwell, R (1994) Towards the fifth-generation innovation process International marketing review, 11(1), 7-31 S Saban, K., Lanasa, J., Lackman, C., & Peace, G (2000) Organizational learning: a critical component to new product development Journal of Product & Brand Management, 9(2), 99-119 Saebi, T., & Foss, N J (2015) Business models for open innovation: Matching heterogeneous open innovation strategies with business model dimensions European Management Journal, 33(3), 201-213 Salman, N., & Saives, A L (2005) Indirect networks: an intangible resource for biotechnology innovation r&d Management, 35(2), 203-215 225 Samila, S., & Sorenson, O (2010) Venture capital as a catalyst to commercialization Research Policy, 39(10), 1348-1360 Sandberg, B., & Aarikka-Stenroos, L (2014) What makes it so difficult? A systematic review on barriers to radical innovation Industrial Marketing Management, 43(8), 1293-1305 Sauermann, H., & Stephan, P (2013) Conflicting logics? A multidimensional view of industrial and academic science Organization Science, 24(3), 889-909 Schiele, H (2010) Early supplier integration: the dual role of purchasing in new product development R&d Management, 40(2), 138-153 Schilling, M A., & Phelps, C C (2007) Interfirm collaboration networks: The impact of large-scale network structure on firm innovation Management science, 53(7), 1113-1126 Scillitoe, J L., & Chakrabarti, A K (2010) The role of incubator interactions in assisting new ventures Technovation, 30(3), 155-167 Sears, J., & Hoetker, G (2014) Technological overlap, technological capabilities, and resource recombination in technological acquisitions Strategic Management Journal, 35(1), 48-67 Segers, J P (2015) The interplay between new technology based firms, strategic alliances and open innovation, within a regional systems of innovation context The case of the biotechnology cluster in Belgium Journal of Global Entrepreneurship Research, 5(1), 16 Segers, J P (2017) Green Biotechnology in Belgium: The Ghent Innovation District Seldon, T (2011) Beyond patents: Effective intellectual property strategy in biotechnology Innovation, 13(1), 55-61 Shakeri, R., & Radfar, R (2017) Antecedents of strategic alliances performance in biopharmaceutical industry: A comprehensive model Technological Forecasting and Social Change, 122, 289-302 Shane, S (1995) Uncertainty avoidance and the preference for innovation championing roles Journal of International Business Studies, 26(1), 47-68 Shan, W., Walker, G., & Kogut, B (1994) Interfirm cooperation and startup innovation in the biotechnology industry Strategic management journal, 15(5), 387394 Shepherd, J (2017) Consolidation and innovation in the pharmaceutical industry: the role of mergers and acquisitions in the current innovation ecosystem 226 Siegel, D S., Waldman, D., & Link, A (2003) Assessing the impact of organizational practices on the relative productivity of university technology transfer offices: an exploratory study Research policy, 32(1), 27-48 Siegel, D S., Waldman, D A., Atwater, L E., & Link, A N (2004) Toward a model of the effective transfer of scientific knowledge from academicians to practitioners: qualitative evidence from the commercialization of university technologies Journal of engineering and technology management, 21(1), 115-142 Siegel, D S., Veugelers, R., & Wright, M (2007) Technology transfer offices and commercialization of university intellectual property: performance and policy implications Oxford review of economic policy, 23(4), 640-660 Singh, A., & Rathore, D (Eds.) (2017) Biohydrogen Production: Sustainability of Current Technology and Future Perspective Springer India Snehota, I., & Hakansson, H (Eds.) (1995) Developing relationships in business networks London: Routledge Snehota, I., Håkansson, H., Gadde, L E., & Ford, D (2003) Managing Business Relationships Snow, C C., Fjeldstad, Ø D., Lettl, C., & Miles, R E (2011) Organizing continuous product development and commercialization: the collaborative community of firm’s model Journal of Product Innovation Management, 28(1), 3-16 Smyth, S J., Kerr, W A., & Gray, R S (2017) Regulatory barriers to international scientific innovation: approving new biotechnology in North America Canadian Foreign Policy Journal, 23(2), 134-145 Soenksen, L R., & Yazdi, Y (2017) Stage-gate process for life sciences and medical innovation investment Technovation, 62, 14-21 Song X.,(2014) Biotechnology: Industry Analysis, Key Players & Future Trends Data Fox Song, M., & Thieme, J (2009) The role of suppliers in market intelligence gathering for radical and incremental innovation Journal of Product Innovation Management, 26(1), 43-57 Sorenson, O., & Stuart, T E (2001) Syndication networks and the spatial distribution of venture capital investments American journal of sociology, 106(6), 1546-1588 Stern, L W., & Adel, I (1977) El-Ansary Marketing Channels, 27 227 Stone, V I., & Lane, J P (2012) Modeling technology innovation: How science, engineering, and industry methods can combine to generate beneficial socioeconomic impacts Implementation Science, 7(1), 44 Stuart, T E., Ozdemir, S Z., & Ding, W W (2007) Vertical alliance networks: The case of university–biotechnology–pharmaceutical alliance chains Research Policy, 36(4), 477-498 Straub, E T (2009) Understanding technology adoption: Theory and future directions for informal learning Review of educational research, 79(2), 625-649 Sternitzke, C (2010) Knowledge sources, patent protection, and commercialization of pharmaceutical innovations Research Policy, 39(6), 810-821 Sytch, M., & Bubenzer, P (2008) Research on strategic alliances in biotechnology: An assessment review Handbook of Bioentrepreneurship, International Handbook Series on Entrepreneurship, 4, 102–128 Symeonidou, N., Bruneel, J., & Autio, E (2017) Commercialization strategy and internationalization outcomes in technology-based new ventures Journal of Business Venturing, 32(3), 302-317 T Takey, S M., & Carvalho, M M (2016) Fuzzy front end of systemic innovations: A conceptual framework based on a systematic literature review Technological Forecasting and Social Change, 111, 97-109 Tahvanainen, A J., & Nikulainen, T (2011) Commercialization at Finnish universities: Researchers' perspectives on the motives and challenges of turning science into business (No 1234) ETLA discussion paper Tayaran, E (2011) Investigation of the critical factors in the early stage of the innovation process in biotechnology: A system dynamics approach (Doctoral dissertation, Concordia University) Teece, D J (2007) Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance Strategic management journal, 28(13), 1319-1350 Terziovski, M., & Morgan, J P (2006) Management practices and strategies to accelerate the innovation cycle in the biotechnology industry Technovation, 26(5-6), 545-552 Tether, B S (2002) Who co-operates for innovation, and why: an empirical analysis Research policy, 31(6), 947-967 228 Tinoco, J K., & Ambrose, S C (2017) Collaborative Customers and Partners: The Ups and Downs of Their Influence on Firm Technology Competence for New Product Development Journal of Marketing Development and Competitiveness, 11(4), 66-78 Thakur, P C., Cabrera, D D., DeCarolis, N., & Boni, A A (2018) Innovation and Commercialization Strategies for Three-Dimensional-Bioprinting Technology: a Lean Business Model Perspective Journal of Commercial Biotechnology, 24(1) Theingi, Purchase S and Phungphol Y (2008) Social capital in Southeast Asian business relationships, Industrial Marketing Management, 37, 523-530 Thompson, N A., Herrmann, A M., & Hekkert, M P (2018) SME Knowledge Commercialization Through Public Sector Partnerships International Journal of Innovation and Technology Management, 185002 Tierney, Kieran, Westberg, Kate, and Ingo O Karpen (2014), ―How Consumers Cocreate Brand Meaning: Empirical Evidence from the Vietnamese Retail Banking Sector‖, ANZMAC 2014 Proceedings, December 1-3, Brisbane, Australia Todtling, F., & Trippl, M (2007) Knowledge links in high-technology industries: Markets, Networks or Milieu? The case of the Vienna biotechnology cluster International Journal of Entrepreneurship and Innovation Management, 7(2-5), 345-365 Tralau-Stewart, C J., Wyatt, C A., Kleyn, D E., & Ayad, A (2009) Drug discovery: new models for industry–academic partnerships Drug discovery today, 14(1-2), 95-101 Tsuzuki, T (2016) Nanotechnology commercialization Pan Stanford Tsai, K H (2009) Collaborative networks and product innovation performance: Toward a contingency perspective Research policy, 38(5), 765-778 V Valkokari, K (2015) Business, innovation, and knowledge ecosystems: how they differ and how to survive and thrive within them Technology Innovation Management Review, 5(8) Van der Bij, H., Michael Song, X., & Weggeman, M (2003) An empirical investigation into the antecedents of knowledge dissemination at the strategic business unit level Journal of Product Innovation Management, 20(2), 163-179 Vanhaverbeke, W., & Cloodt, M (2005) Open Innovation in value constellations Paper presented at the DRUID Thenth Anniversary Summer Conference 229 Varey, R J (2008) Marketing as an interaction system Australasian Marketing Journal, 16(1), 79 Vargo, S L., Wieland, H., & Akaka, M A (2015) Innovation through institutionalization: A service ecosystems perspective Industrial Marketing Management, 44, 63-72 Velu, C (2016) Evolutionary or revolutionary business model innovation through coopetition? The role of dominance in network markets Industrial Marketing Management, 53, 124-135 Vitale, M., & Vitale, M (2004) Commercialising Australian Biotechnology Sydney: Australian Business Foundation Visalakshi, S., & Mohan, S (2002) Evaluation of biotechnology-based healthcare products for prioritization in Indian context International journal of technology assessment in health care, 18(3), 718-727 Viitanen, J (2016) Profiling Regional Innovation Ecosystems as Functional Collaborative Systems: The Case of Cambridge Technology Innovation Management Review, 6(12) Vowles, N., Thirkell, P., & Sinha, A (2011) Different determinants at different times: B2B adoption of a radical innovation Journal of Business Research, 64(11), 11621168 Von Burg, U., & Kenney, M (2000) Venture capital and the birth of the local area networking industry Research Policy, 29(9), 1135-1155 Vu, K (2017) From design thinking to commercialisation of innovation-Case: BioXylitol production technology in cosmetics and skin care market W Walter, A., Parboteeah, K P., Riesenhuber, F., & Hoegl, M (2011) Championship behaviors and innovations success: An empirical investigation of university spin‐ offs Journal of Product Innovation Management, 28(4), 586-598 Wang, S., & Liu, R (2018) Priority Sequence of Generic Technologies Commercialization: Take Biotechnology for an Example American Journal of Industrial and Business Management, 8(03), 735 Wang, C H., Quan, X I., & Huang, S Z (2016) Technology acquisition through exploration alliance: network positions and technology diversity International Journal of Technology Intelligence and Planning, 11(2), 93-116 230 Walsh, J P (1995) Managerial and organizational cognition: Notes from a trip down memory lane Organization science, 6(3), 280-321 Walsh, P R (2012) Innovation nirvana or innovation wasteland? Identifying commercialization strategies for small and medium renewable energy enterprises Technovation, 32(1), 32-42 Walker, A., & Ellis, H (2000) Technology transfer: strategy, management, process and inhibiting factors A study relating to the technology transfer of intelligent systems International Journal of Innovation Management, 4(01), 97-122 Wasti, S N., & Liker, J K (1997) Risky business or competitive power? Supplier involvement in Japanese product design Journal of Product Innovation Management: AN INTERNATIONAL PUBLICATION OF THE PRODUCT DEVELOPMENT & MANAGEMENT ASSOCIATION, 14(5), 337-355 Weiller, C., & Neely, A (2013) Business model design in an ecosystem context University of Cambridge, Cambridge Service Alliance Williamson S.,(2014),” Life sciences sector: Boom time for Australian life sciences sector” Australian Life Scientists Wiener, J B (2004) The regulation of technology, and the technology of regulation Technology in Society, 26(2-3), 483-500 Weisenfeld, U., Reeves, J C., & Hunck‐Meiswinkel, A (2001) Technology management and collaboration profile: virtual companies and industrial platforms in the high‐tech biotechnology industries R&D Management, 31(1), 91-100 Whittington, K B., & Smith-Doerr, L (2008) Women inventors in context: Disparities in patenting across academia and industry Gender & Society, 22(2), 194218 Woodside, A G., & Biemans, W G (2005) Modeling innovation, manufacturing, diffusion and adoption/rejection processes Journal of Business & Industrial Marketing, 20(7), 380-393 Woo, K S., & Ennew, C T (2004) Business-to-business relationship quality: An IMP interaction-based conceptualization and measurement European journal of marketing, 38(9/10), 1252-1271 Wright, M., Birley, S., & Mosey, S (2004) Entrepreneurship and university technology transfer The Journal of Technology Transfer, 29(3-4), 235-246 Wynstra, F., Weggeman, M., & Van Weele, A (2003) Exploring purchasing integration in product development Industrial Marketing Management, 32(1), 69-83 231 X Xiaoren, Z., Ling, D., & Xiangdong, C (2014) Interaction of open innovation and business ecosystem International Journal of u-and e-Service, Science and Technology, 7(1), 51-64 Y Yao, X., Wadhwa, A., & Petkova, A P (2017) What Sustains the Sustainable? Knowledge Networks and Cleantech Entrepreneurship In THE WORLD SCIENTIFIC REFERENCE ON ENTREPRENEURSHIP: Volume 3: Sustainability, Ethics, and Entrepreneurship (pp 193-223) Yin, R K (1994) Discovering the future of the case study Method in evaluation research Evaluation practice, 15(3), 283-290 Yin, R K (2009) "Case Study Research: Design and Methods Essential guide to qualitative methods in organizational research (Vol 5)." The Information Systems Research Challenge (Harvard Business School Research Colloquium) London: Sage 2009 Yoon, W., Lee, D Y., & Song, J (2015) Alliance network size, partner diversity, and knowledge creation in small biotech firms Journal of management & Organization, 21(5), 614-626 Yoon, J., Rosales, C., & Talluri, S (2018) Inter-firm partnerships–strategic alliances in the pharmaceutical industry International Journal of Production Research, 56(1-2), 862-881 Z Zain, M., & Ng, S I (2006) The impacts of network relationships on SMEs' internationalization process Thunderbird international business review, 48(2), 183205 Zahra, S A., & Nambisan, S (2012) Entrepreneurship and strategic thinking in business ecosystems Business horizons, 55(3), 219-229 Zheng, Y., Liu, J., & George, G (2010) The dynamic impact of innovative capability and inter-firm network on firm valuation: A longitudinal study of biotechnology start-ups Journal of Business Venturing, 25(6), 593-609 Zott, C., & Huy, Q N (2007) How entrepreneurs use symbolic management to acquire resources Administrative Science Quarterly, 52(1), 70-105 232 Zucker, L G., Darby, M R., & Brewer, M B (1994) Intellectual capital and the birth of US biotechnology enterprises (No w4653) National Bureau of Economic Research Zucker, L G and Darby, M R (2001) ‘Capturing technological opportunity via Japan's star scientists: evidence from Japanese firms' biotech patents and products Journal of Technology Transfer, 26, 37–58 233 APPENDIX Interview Instrument for Biotechnology Industry Experts (A consent form containing all the details of this research was given to the respondents prior to the interview) Thank you for your time today This interview will take between 45 and 60 minutes The purpose of this interview is to gain your insights and opinions on the process of taking a new innovative product through to commercial viability and launch I would like to audio record this interview so that I have an accurate record but I will turn it off at any time you indicate The questions are all open ended If a question is not relevant to your business, please let me know and we will move to the next question Let’s get started with the interview So can you tell me some core activities of your organisation? Would you shed some light on the new product development process of your organisation? How you commercialise these new products? What are the issues that your organisation deals with when taking these new products to market? What type of organisations you mainly deal with? How you collaborate to meet your requirements for the NDP? What are the issues that your organisation comes across when working with other organisations? What are your recommendations for improving the commercialisation process? Are there any comments that you would like to make or any other information that you think I should be aware of? Thank you for your time 234 APPENDIX Interview Instrument for Venture Capitalists (A consent form containing all the details of this research was given to the respondents prior to the interview) Thank you for your time today This interview will take between 45 and 60 minutes The purpose of this interview is to gain your insights and opinions on the process of taking a new innovative product through to commercial viability and launch I would like to audio record this interview so that I have an accurate record but I will turn it off at any time you indicate If a question is not relevant to your business, please let me know and we will move to the next question So can you tell me some core activities of your organisation? What type of organisation captures your interest for investment? a How you find out about these companies and organisations? Why is biotechnology an area of interest for your organisation to invest in? On what basis you decide to invest in start-up Biotechnology organisations? b At what point in the innovation and commercialisation process you invest? What are the risks and uncertainties that you face when investing in the new product development process? This research is based on organisational collaboration which are involved in taking new high technology products to market So according to you what are the challenges that an organisation faces during this process? What is the role of your organisation during the commercialisation of new Biotechnology products? What you think is role of overall business networks during the process of Biotechnology commercialisation? What type of collaborations does your organisation have with other organisations that are involved in commercialisation of new biotechnology products? 235 10 What are your recommendations for improving the commercialisation process? Are there any comments that you would like to make or any other information that you think I should be aware of? Thank you for your time 236 APPENDIX Letter of ethics approval for this research 237