Benchmarking biotechnology industries: A comparative perspective

Abstract

This exploratory paper concerns Spanish biotechnology, a newcomer in the world of molecular biology and its applications. Our central research question is: how different or similar is the national system of Spanish biotechnology compared to those of other countries such as Canada, the United Kingdom or the United States? And how could it be overhauled to rejoin leading countries? The study is based on both public figures and a database built by the authors on Spanish dedicated biotechnology firms. The paper argues that Spanish biotechnology is growing under a fairly different system from the one that was established in the leading nations, the United States, the United Kingdom and Canada. In the Spanish system, venture capital and university spin-offs do not hold a major position, but government support and large private company groups of companies do. Spain may thus develop a latecomer version of the Continental European biotechnology adoption system. In the conclusion, we summarize the findings and implications of the study.