Spin-in or spin-out? Corporate ventures in life sciences

Tidd, Joe and Barnes, Simon (2000) Spin-in or spin-out? Corporate ventures in life sciences. International Journal of Entrepreneurship and Innovation Management, 1 (2). pp. 109-116. ISSN 1476-1297

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Abstract

This paper examines the variety of corporate venturing activities in the pharmaceutical and life science sectors, identifies the range of initiators, motives and structures, and evaluates the potential opportunities for professional venture capital firms. On the one hand, pharmaceutical companies need to maintain the new product pipeline that has increased the demand for technology acquisition, and on the other, mergers and rationalization within the sector have resulted in a significant growth in technology divestment. Both trends have boosted corporate venturing activity. The study examines the venture activities of nine pharmaceutical firms, fourteen life science companies and seven corporate venture capital funds. The authors conclude that, while there is a wide range of venturing options, there is considerable confusion in the industry over ends and means. Specifically, many firms have failed to differentiate sufficiently between strategic, financial and operational goals, and have therefore created inappropriate forms of corporate venture.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > SPRU - Science Policy Research Unit
Depositing User: Joseph Tidd
Date Deposited: 06 Feb 2012 19:27
Last Modified: 27 Apr 2012 10:41
URI: http://sro.sussex.ac.uk/id/eprint/20671
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