A STUDY OF ENTREPRENEURIAL STRATEGIES IN BIOMEDICAL AND GENETICS

Abstract

This study compares two entrepreneurial strategies: speed of entry and speed of accumulation of resources after entry. It tests whether the speed of accumulation of resources after entrance overcomes the advantage gained by early entrance into bio-medical and genetics. The findings show that the effect of speed of accumulation of resources is larger than the effect of early entrance, which suggests that first mover advantages are temporary and dependent on speed of accumulation of resources. We test these propositions on a sample of firms from North America and discuss strategic implications.