Towards a high‐performance bioeconomy

Abstract

PurposeBuilding a bioeconomy requires efficient technology transfer and global linkages to exploit finite intellectual property exclusivity periods. The purpose of this paper, using a resource‐based view lens, is to assess the priorities, capabilities, and competitiveness of the emerging New Zealand (NZ) bioeconomy.Design/methodology/approachA triangulated design was used that involved four focus groups, 27 interviews, five case studies, and survey of 176 NZ biotechnology industry participants from a broad range of backgrounds such as scientists, managers, and investors.FindingsTwo high‐priority capabilities were identified as being critical to fostering a competitive bioeconomy – access to talent and access to funding. Participants also identified the critical role of government in building and coordinating infrastructure, enabling critical capabilities, and accelerating bi‐directional technology and capital flows.Originality/valueMost biotechnology research and data has focused on the USA and European Union. This is one of the first studies of NZ biotechnology participants, and insights gained within this context are potentially applicable for increasing our understanding of building biotechnology industries outside established clusters.