Keywords: biotechnology, technology management, technological innovation
The biotechnology revolution: lessons for technology management research and practice
Rapid advances in both the science and commercialisation of biotechnology over the past 25 years have attracted considerable research attention and offer useful insights for technology management research and practice. Drawing on both academic research and managerial experience, this paper highlights defining characteristics of the biotechnology revolution and the pivotal roles played by emerging firms in the translation of basic science into commercial products and processes. Selected lessons are suggested to guide future academic studies and management practice.