Keywords: Canadian biotech firms, creative capacity, absorptive capacity, relational capital, learning, product development stage, Biotechnology Firm Survey, Statistics Canada
Canadian biotech firms' creative capacity: on the role of absorptive capacity, relational capital, learning, and firm characteristics
The research reported in this paper focuses on factors that enhance Canadian Biotech firms' creative capacity. Using the number of products and processes at all stages of development as an indicator of creative capacity, results show that absorptive capacity, relational capital, learning, expansion into international markets, and firm characteristics are all key determinants of creative capacity. However, not all these factors are equally important at all stages of product development. For example, results show that at the R&D stage, success drivers are firm absorptive capacity and firm characteristics. But issues related to product commercialisation have no bearing on creative capacity at that stage. Expansion into international markets and experience in biotechnology are the greatest firm creative capacity assets at the production/commercialisation stage.