Development Perspectives of Bio-Tech Entrepreneurship: The Case of Slovenia

2012 
The development perspectives of the bio-tech entrepreneurship in Slovenia are examined in the paper. The main research question is to examine the conditions for fundaments of wider expansion of this particular industry in Slovenia. Due to a small extent of the industry a qualitative research methodological approach seemed appropriate. Eight companies were interviewed with the objective to reveal the main characteristics of the entrepreneurial ventures established on the basis of science and research driven ambitions of founders who managed to encompass their personal and professional development trails with entrepreneurial paths. There are several peculiarities found in this particular qualitative research which goes along with the literature survey. On the other side, there are some characteristics which may not be regarded as usual in the field of bio-tech entrepreneurship: majority of companies are not spin-offs in are not based on public-funded research, they do not rely on venture capital and seem not to have a very distinguished business model. Half of companies are located in incubators or tech-parks. Participants in the study share similar opinion regarding the support policy of the government. On the other hand, majority of entrepreneurs come from public research institutions not exactly being entrepreneurial from the viewpoint of being profitable but rather in a way, that there is a belief that in private companies they may generally have more flexibility and broader financing opportunities. The understanding of importance of marketing, building on social capital and risk-awareness still seem to be neglected factors among bio-tech entrepreneurs. Still, high level of reliance on public finance, mostly on different EU-sponsored programs can be recognized from the opinions of study participants.
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