Biotechnology-driven business model archetypes: Sustainability, Innovation and Commercial Viability

Abstract

PurposeIn spite of enthusiasm for biotechnologies to enable sustainability and the development of innovative sustainable business models, limited research, tools and resources exist. Therefore, this research questions how the business model of sustainable biotechnology-driven firms differs from other businesses.Methodology This article applies a structured content analysis method to enumerate sustainable business model archetypes in biotechnology firms focuses utilising secondary data from 64 existing. The triple-layer business model canvas is used as the categorisation matrix.FindingsFive sustainable business model archetypes were identified for biotechnology firms. Findings highlight that sustainable biotechnology-driven businesses can reach a sustainable business model through either operating as an environmentally-led or economically-led domain.Research limitations/implicationsThis article recognises that transitioning to a sustainable business model requires significant change to many facets of the business, therefore this study provides a template for future organisations, supporting the realisation of future, sustainable, biotechnology innovations.Originality/value Unlike previous studies this article focuses exclusively on biotechnology firms, as well as utilising the Triple Layer Business Model Canvas as the categorisation matrix, the first article to do so. This article provides a template for large-scale industrial businesses to build, or transition to, more sustainable business models utilising biotechnology.