The process of technology transfer to the new biomedical and pharmaceutical firm

This paper applies the theories of technological innovation to the process of technology transfer to biomedical and pharmaceutical start-ups. It is based on detailed data gathered from 26 firms, founded between 1968 and 1975 in the Commonwealth of Massachusetts.The routes of technology transfer were traced, and the comparative impact of entrepreneurial professional experience, and the continuous flow of information to the firm were evaluated. In this context, the dominant role of the hospital and the medical school were elicited. Even weak contacts with universities and hospitals were found conducive to transferring technology from research to industry, enhancing technological innovativeness of the young biomedical firm. On the other hand the relation between technological attributes and economic success of the biomedical firm is more complex: (a) contacts with the clinical environment do not significantly facilitate its economic performance; (b) technological sophistication and advancedness of firm's products are not dominant factors in determining its economic success.