High technology in emerging markets

Abstract

Purpose Building a bioeconomy requires efficient technology transfer and global linkages to exploit finite intellectual property exclusivity periods. Using a resource-based view lens, this paper aims to assess the priorities, capabilities, and competitiveness of the emerging bioeconomy in India. Design/methodology/approach A triangulated design was used that involved interviews, case studies and a survey of 61 India biotechnology industry participants. Findings Two high priority capabilities were identified as being critical to fostering a competitive bioeconomy – access to talent and access to funding. Participants also identified the critical role of government in building and coordinating infrastructure, enabling critical capabilities, and accelerating bi-directional technology and capital flows. This study reinforces the resource-based view strategy framework regarding the importance of local context for biotechnology research. Practical implications Implications include the need for public-private sector collaboration to strengthen industry infrastructure and enable biotechnology start-ups, partnering between academia and government to accelerate technology transfer, and importance of seeking international investment and alliances early in a company's lifecycle to ensure sustainability. Originality/value These India-centric lessons may be valuable in advancing knowledge for building successful biotechnology clusters, particularly for emerging market countries.