Funding gap or trap?: Dissemination of results from case studies
Lead Research Organisation:
University of Manchester
Department Name: Manchester Business School
Abstract
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Publications
Marcela Monica Miozzo (Author)
(2011)
Cross-border acquisitions of science-based firms: their effect on innovation in the acquired firm and the local science and technology system
Miozzo M
(2016)
Growing fast or slow?: Understanding the variety of paths and the speed of early growth of entrepreneurial science-based firms
in Research Policy
| Description | The project's aim was to understand what happens to the technological resources and assets of UK science-based firms when acquired by foreign firms. We used a multiple case study research design, interviewed senior managers of UK biopharmaceutical firms and analysed patent data. We derived different patterns of knowledge base combinations through acquisition that have different outcomes in terms of innovation. These patterns are based on combinations of two factors: the complementarity or similarity of the technology, and the complementarity or similarity of the discovery and development capabilities of the target and acquiring firm. These combinations have clear differential outcomes in terms of investment in the acquired firm's technology and important effects for the local science and technology system. The scientific impact is three-fold: 1) We make a theoretical contribution by advancing the discussion at a conceptual level, arguing that multiple combinations of firms' technology and discovery and development capabilities have different effects on the innovation performance of the acquired firm. 2) We extend the realm of inquiry on the effects of mergers and acquisitions to science-based firms. Previous literature has explored the relation between mergers and acquisitions and innovation for medium- and high-tech firms, which face different challenges from science-based firms. 3) We contribute methodologically by using a combination of interview and patent data. Previous studies rely primarily on patent analysis. We argue that in order to assess the relatedness of technology and discovery and development capabilities, careful analysis of interview and patent data is needed for each case. |
| Exploitation Route | The project has developed some unique insights, particularly in relation to the knowledge base combinations through acquisition that have different outcomes in terms of innovation. Our findings also have important messages both for business leaders and policymakers, and we have sought to create awareness among practitioners and policymakers through workshops and discussions about what happens to the technological resources and assets of science-based firms when they are acquired by foreign firms. Our findings are also used in teaching, particularly in the Masters in Innovation Management and Entrepreneurship and MBA courses at Manchester Business School and Amsterdam University of Applied Sciences among others. |
| Sectors | Pharmaceuticals and Medical Biotechnology |
| Description | The main economic and societal impact has been to create awareness among practitioners and policymakers about what happens to the technological resources and assets of host country science-based firms when they are acquired by foreign firms. This is an issue of gret importance to economic competitiveness of the UK. Discussions with practitioners and policymakers revolved around the way in which the multiple combinations of firms' technology and discovery and development capabilities have different effects on innovation. Also, awareness has been raised on how the relation between the complementarity/ similarity of the technology and of the discovery and development capabilities of the target and buyer firms and the buyers' ability to absorb the knowledge and capabilities play an important role in the further development of the acquired firm's technological assets and capabilities in the UK after acquisition. An important part of the discussion with practitioners and policymakers focused on how the cognitive, tacit knowledge embedded in scientists and specialists in universities, firms and laboratories provides the (national and regional) innovation system with unique competitive advantages and draws investment from both foreign and domestic firms. Awareness has been raised on the importance of investment in policies that support and develop these capabilities and networks that can strengthen the ability to appropriate value in these acquisitions. This involves not only proximity to universities, guaranteeing access to scientists, but involves a number of other features of a regional system of innovation and production. |
| First Year Of Impact | 2011 |
| Sector | Pharmaceuticals and Medical Biotechnology |
| Impact Types | Economic |
| Description | Meeting with BIS and UK Trade and Investment |
| Geographic Reach | National |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Impact | effect of mergers and acquisitions in biotechnology on research and development |
| Description | Response to the Inquiry by the Science and Technology Committee, House of Commons into Technology Innovation Centres, November 2010 |
| Geographic Reach | National |
| Policy Influence Type | Citation in systematic reviews |
| Impact | Support for research and development |
| URL | http://www.publications.parliament.uk/pa/cm201011/cmselect/cmsctech/619/619vw.pdf |
| Description | CASE Award, 'Global inter-organisational collaborations and local innovation in emerging high-technology sectors', |
| Amount | £55,000 (GBP) |
| Funding ID | 1651383 |
| Organisation | Economic and Social Research Council |
| Sector | Public |
| Country | United Kingdom |
| Start | 09/2015 |
| End | 08/2018 |
| Description | CASE studentship with CEO of Stevenage Bioscience Catalyst |
| Organisation | Stevenage Bioscience Catalyst |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Joint development of CASE PhD studentship |
| Collaborator Contribution | Access to SBC tenants time and data - not directly convertible to cash value |
| Impact | CASE studentship |
| Start Year | 2012 |
| Description | Cross-border acquisitions of science-based firms : their effect on innovation in the acquired firm and the local science and technology system |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Workshop with Oxford Biotechnology Network: a 2-hour executive lunch workshop, attendees included top-level management of biotech firms, venture capitalists and industry specialists, 20 September 2011, Oxford. Interest in effect on research and development of mergers and acquisitions in biotechnology |
| Year(s) Of Engagement Activity | 2011 |
| Description | Cross-border acquisitions of science-based firms : their effect on innovation in the acquired firm and the local science and technology system |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Workshop with University of Manchester Incubator Company (UMIC): 4-hour workshop including a networking lunch, attendees included representatives from local regional development agencies, incubator and science park directors, venture capitalists, entrepreneurs and executives, 14 March 2011, Manchester UMIC reported interest in effects of research and development of mergers ands acquisitions in biotech, further project with CEO from UMIC |
| Year(s) Of Engagement Activity | 2011 |
| Description | Cross-border acquisitions of science-based firms : their effect on innovation in the acquired firm and the local science and technology system |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Workshop with Babraham Biosciences Technologies and OneNucleus (the East England biotechnology industry association): a 4-hour workshop including a networking lunch, attendees included representatives from East England development agencies, university incubators and technology transfer offices, entrepreneurs and executives, 24 May 2011, Cambridge Brabaham and OneNucleus reported interest in effects of research and development from mergers and acquisitions in biotechnology |
| Year(s) Of Engagement Activity | 2011 |