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Public R&D Policy: The Right Turns of the Wrong Screw? The Case of the German Biotechnology Industry

  • Andreas Fier
  • Oliver Heneric
Part of the International Studies in Entrepreneurship book series (ISEN, volume 19)

10.1 Introduction

The biotechnology industry still has considerable expectations concerning its growth rates in employment, new products, patents and profits. The technology is most relevant for policy makers to foster the national competitiveness, employment and social wealth. It is of particular importance for pharmaceutical companies to develop new products and its future profit margin is promising for private investors. Biotechnology start-ups have received special attention to investors and policy makers in most OECD countries. Actually, industrialized countries invest a high amount of tax payers' money in laboratories, incubators and R&D projects. The common intention is to support biotechnology entrepreneurs and to ensure future competitiveness.

However, it is largely recognized that Germany one of the largest European economies missed the accession of this upcoming key technology in the 1980s, while it evolved in other countries directed by the US. Today, German R&D policy...

Keywords

Business Model Venture Capital Public Funding Credit Rating Market Risk 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2009

Authors and Affiliations

  • Andreas Fier
    • 1
  • Oliver Heneric
    • 1
  1. 1.Centre for European Economic Research (ZEW)MannheimGermany

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