Keywords: biotechnology policies, policy effectiveness, policy mix, performance, EU member states, European Union, biotechnology innovation, policy instruments, science, commercialisation
The effectiveness of biotechnology policies in Europe
The present study investigates what policy mixes are the most effective in fostering biotechnology innovations. An input-output approach has been used with a mix of biotechnology policy instruments at the input side and biotechnology performance in science and commercialisation at the output side. Policy mixes that include both generic and biotech-specific policy instruments which support both the science base and commercialisation activities correlate with higher performance levels. Countries that ascribe limited importance to the creation of generic and biotech-specific instruments for the stimulation of biotechnology also perform more weakly. Only generic research stimulating instruments in place is less effective; biotech-specific instruments seem to be more beneficial. All highly performing countries in commercialisation had both generic and biotech-specific instruments in place. The overall conclusion is that a well-balanced mix of generic and biotech-specific measures seems to be superior.