Clusters and benchmarks on the dynamics of nanoscience and nanotechnology
  • Français
  • English
Main menu
Home
Contact us
Site map
Search
Tag cloud
Researches
Nanotechnology
Research and industry
Corner of maps
Resources
Glossaries
Bibliography
Reading logs
Info nano
Web links
 
 
The geography of opportunity: spatial heterogeneity in founding rates and the performance of biotechnology firms

Book or journal references : Research Policy, vol. 32, pp. 229-253 (2003).

Author(s) : Stuart , T. and Sorenson , O.

Abstract :

One of the most commonly observed features of the organization of markets is that similar business enterprises cluster in physical space. In this paper, we develop an explanation for firm co-location in high-technology industries that draws upon a relational account of new venture creation. We argue that industries cluster because entrepreneurs find it difficult to leverage the social ties necessary to mobilize essential resources when they reside far from those resources. Therefore, opportunities for high tech entrepreneurship mirror the distribution of critical resources. The same factors that enable high tech entrepreneurship, however, do not necessary promote firm performance. In the empirical analyses, we investigate the effects of geographic proximity to established biotechnology firms, sources of biotechnology expertise (highly-skilled labor), and venture capitalists on the location-specific founding rates and performance of biotechnology firms. The paper finds that the local conditions that promote new venture creation differ from those that maximize the performance of recently established companies. (C) 2002 Elsevier Science B.V. All rights reserved.


Keywords :

biotechnology firms; geography of opportunity; spatial heterogeneity MANHATTAN HOTEL INDUSTRY; EXECUTIVE MIGRATION; SILICON-VALLEY; NETWORKS; COMPETITION; KNOWLEDGE; MARKET; ENTREPRENEURIAL; ORGANIZATIONS; AGGLOMERATION

url See this document online
©2006 - 2010 Clusters and benchmarks on the dynamics of nanoscience and nanotechnology