Formation And Early Growth of Biomedical And Pharmaceutical Enterprises

Cover Formation And Early Growth of Biomedical And Pharmaceutical Enterprises
Formation And Early Growth of Biomedical And Pharmaceutical Enterprises
Oscar Hauptman
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In comparison, "Conditions on the last job" were chosen as the most important motives to start the business by 12%, and "Business opportunity" by 15% of the entrepreneurs. "Business opportunity" seems substantially more important than "Conditions on the last job"; it was mentioned as the second most important motive by 48% of the respondents, while the latter was chosen only by 15% of them.
More specifically, the motives to establish the firm included "Being your own boss", "Freedom to explore
...new areas", "Challenge", and "Financial reward" at the top of the list, quite similar to the previous studies (e. G. , Roberts & Vainer, 1971, Taylor, 1981). It should be noted though that in our study the exploration of new areas ranked somewhat lower, and "Challenge" higher than in the studies mentioned above.
36 At founding, the biomedical entrepreneurs differ from their nonblomedlcal counterparts mainly by the extent of their part-time Involvement with the new firm. Seventy eight percent of them started their firm on a part-time basis, in comparison with only 26Z part-time work in Taylor's (1981) study and 50Z in most of the other previous studies.


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