The goal of this paper is to point out the role played by private equity investors (venture-capital companies and corporate investors) in the emergence of a new biotechnology industry in Germany in the second half of the 90?s. This analysis takes into account the different business models and...

The German biotechnology industry missed the accession of this key technology in the 1980s. Policy makers make different efforts to overcome shortcomings and recent gaps. Public funding schemes have been implemented to establish a flourish biotech industry in Germany. We assume that R&D policy...

We examine the evolution of biotechnology clusters in Germany between 1996 and 2003, paying particular attention to their composition in terms of venture capital, basic science institutions, and biotechnology firms. Drawing upon the significance of co-location of “money and ideas”, the...