Characteristics of the Italian biotechnology industry and new business models: the initial results of an empirical study

This study focuses on the Italian biotechnology industry, with particular reference to the way in which innovation is generated and managed in Italian biotechnology companies. A preliminary analysis of the literature regarding this topic resulted in two significant findings: the empirical data on biotechnology companies is limited and incomplete and the definition of these companies is ambiguous. Therefore, the first objective of the study was to precisely define biotechnology companies. Once this was done, a survey was carried out using postal questionnaires in order to make a profile of the industry based on the data gathered from the questionnaires that 100 companies completed. This information was then used to make initial hypotheses regarding the business models adopted by the companies in the industry. More precisely, five business models were identified, whose validity will be analyzed by case studies as a part of the continuation of this research. (c) 2004 Elsevier Ltd. All rights reserved.