New research by Prof. Elicia Maine and her co-authors (MIT’s James Utterback, Professor of Management and Innovation, Sloan School of Management and Professor of Engineering Systems; V.J. Thomas, Postdoctoral Fellow, SFU and IIT Delhi; Martin Bliemel, Lecturer at the Australian School of Business, University of New South Wales; and Armstrong Murira, Simon Fraser University PhD student, Molecular Biology and Biochemistry) highlights the economic ramifications of the confluence of the biotechnology and nanotechnology sectors.
In the paper presented at the annual meeting of the American Association for the Advancement of Science (AAAS) in Boston on 18th February 2013, they show that the confluence of biotechnology and nanotechnology is giving rise to start-up ventures, commercializing science and technology developed in university research labs. One of the reasons that there are companies forming around the opportunity created by this confluence of technologies is that larger firms have known organizational disincentives to commercializing radical innovation. So small science-based ventures have a better chance of success when commercializing radical innovation, disruptive technology, and – they argue – in integrating disparate technology streams. For example, they notice that de novo bio-nano ventures (those formed around the integration of these technology fields) often have founders who have dual competencies themselves in these fields. So when the founders have these capabilities themselves, it is easier for the research teams of start-up bio-nano ventures to integrate diverse knowledge streams.
“Birth of a new sector”: SFU-MIT study shows technology start-ups driving burgeoning bio-nano industry