Biotechnology entrepreneurs and technology transfer in an intermediate economy

When a substantial part of the knowledge required for the development of a new field is generated at the university, new entrepreneurial firms can be a privileged vehicle for the transfer of research results to the market. Th is is particularly true in the case of "intermediate economies," where thes e firms can bridge the gap between public research and an indifferent indus try. Empirical research on the process of biotechnology firm creation in Po rtugal, confirmed that most biotechnology entrepreneurs are involved in the transfer/transformation of technological knowledge generated in public res earch organizations, playing a critical technological intermediary role. Mo re specifically, the research identified three major knowledge transfer mod es and revealed the role played in this process by a particular type of ent repreneur: highly qualified young people, who were found to be especially e ffective in achieving a match between scientific and technological knowledg e and market needs by capitalizing on their technological competencies and "relational assets." But the research also highlighted the low incidence of firm creation in this field and the context-related difficulties experienc ed by their founders. This article addresses some of the obstacles and the entrepreneurs' adaptive responses to them, providing useful information for policy makers and would-be entrepreneurs. (C) 2001 Elsevier Science Inc.