Abstract
The paper explores the process of early growth of entrepreneurial science-based firms. Drawing on case studies of British and Dutch biopharmaceutical R&D firms, we conceptualise and map the simultaneous and interrelated paths of early fundraising, managerial and technological development. We distinguish between “assisted” and “unassisted” paths to access critical resources, and ascertain how these paths combine to influence the speed of firm growth. We show how a wide range of manifestations of technology development act as signalling devices to attract funding and management, affecting the speed of firm development. We also show how the variety of paths and the speed of development are influenced by the national institutional setting.
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