Bioentrepreneurship in Japan: Institutional transformation and the growth of bioventures

Until recently, Japan had relatively few biotechnology start-up firms and they did not play a significant role in the commercialisation of university research results. This was surprising given the pivotal role ascribed to such firms elsewhere in the commercialisation of biotechnology. However, the...

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Bibliographic Details
Published in:Journal of commercial biotechnology 2004-10, Vol.11 (1), p.9-37
Main Author: Lynskey, Michael J
Format: Article
Language:English
Subjects:
Biotechnology
Biotechnology industry
Business education relationship
Collaboration
Colleges & universities
Commercialization
Entrepreneurs
Entrepreneurship
Intellectual property
Life sciences
Limited liability companies
Pharmaceutical industry
Polls & surveys
R&D
Research & development
Research funding
Startups
Statistical analysis
Technology transfer
Transitions
University research
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Summary:Until recently, Japan had relatively few biotechnology start-up firms and they did not play a significant role in the commercialisation of university research results. This was surprising given the pivotal role ascribed to such firms elsewhere in the commercialisation of biotechnology. However, the system of university-industry collaboration, the management of intellectual property and the role of universities are undergoing significant transformation in Japan. These changes, and others in the financial and labour markets, are proving conducive to entrepreneurship. Consequently, there has been a dramatic increase in the number of biotechnology venture firms hoping to commercialise research results from universities. This paper gives an overview of these institutional transformations in the light of recent deregulation and legislative changes, and describes why 'bioventures' are a viable means to commercialise Japanese biotechnology discoveries. Examples are given of such bioventures, based on interviews conducted with the founders and chief scientists of these firms in Japan. Some of the salient characteristics of these firms are illustrated, including their use of university collaboration and ownership of intellectual property rights. [PUBLICATION ABSTRACT]
ISSN:1462-8732
1478-565X
DOI:10.1057/palgrave.jcb.3040098