Differentiating public policy for technology startups - Essential for biotech?

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    Abstract

    The paper presents the limited quantitative and qualitative analysis of the biotechnology and ICT industries in Lithuania and Estonia, as well as public policy instruments aimed at supporting the development of these industries. In depth analysis of the employment and revenue profile and correlations of the selected biotechnology and ICT enterprises are provided. The paper suggests that existing public policy instruments designed to promote enterprise and innovation fail to differentiate among technological fields. This and other factors cause preference to the short cycle technological fields, such as ICT. Very few instruments are available for the needs of the biotechnology industry, and the long cycles and return horizons of biotechnology development are not recognized. These oversights are detrimental to the biotechnology sector and high-tech local employment. Suggestions on the policy reform are made.

    Original languageEnglish
    Pages (from-to)39-52
    Number of pages14
    JournalJournal of Commercial Biotechnology
    Volume21
    Issue number1
    DOIs
    Publication statusPublished - Jan 1 2015

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    Keywords

    • Biotechnology
    • Business cycle
    • Entrepreneurship
    • ICT
    • Startups
    • Technology

    ASJC Scopus subject areas

    • Biotechnology
    • Management of Technology and Innovation
    • Economics and Econometrics

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