The entrepreneurial marketing management and commercialization arrangements of born-global bio-enterprises: the case of UK companies

Abstract

Born-global bio-enterprises are a unique ‘breed’ of relatively small biotechnology enterprises operating in multiple countries. The companies are nimble and seemingly well prepared for challenges that ephemeral markets such as the internationalized biotechnology sector brings. The international marketing management challenges they encounter appear to stimulate their entrepreneurial marketing and commercialization instincts. Surprisingly, there is a dearth of studies that examine their entrepreneurial predispositions. As such, this study is an attempt to explain their entrepreneurial tendencies by investigating the marketing and commercialization strategies adopted by born-global bio-enterprises in the UK's biotechnology industry. The study assumes a case-oriented approach examining five archetypical born-global bio-enterprises currently active in the UK. It contributes to the international entrepreneurship and marketing management literature. Specifically, it provides international business managers with new knowledge about various marketing maneuvers they can apply in international networks for their marketing benefits. In doing so, the study proposes a theoretical framework mapping out entrepreneurial marketing and commercialization arrangements in internationalized biotechnology markets. Its findings are useful to various stakeholders including: policy makers, managers of technology-based companies and business management researchers.