Rapid internationalization and sustained competitive advantage in US and UK life science international new ventures: a resource based view

Warner, Karl and Carrick, Jon; Jones, Marian V and Wheeler, Colin and Dimitratos, Pavlos, eds. (2011) Rapid internationalization and sustained competitive advantage in US and UK life science international new ventures: a resource based view. In: International Entrepreneurship in the Life Sciences. Edward Elgar Publishing Ltd, Cheltenham, UK, pp. 175-193. ISBN 978 1 84980 819 4

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Abstract

This chapter uses the resource based view (RBV) to study rapid internationalisation and sustained competitive advantage of life science international new ventures (INVs). Applying Hitt et al (2005) RBV framework, we research life science INVs tangible and intangible resources to assess rapid internationalisation and sustained competitive advantage. Cross-national in design, we conduct depth qualitative interviews with US and UK life science INVs to reveal resources that induce sustainable competitive advantage. Our case study findings suggest that the US and UK life science INVs are similar in that they are both rich in intangible resources and this knowledge has facilitated rapid international growth and sustained advantage. However, the results identify that life science funding models inherently differ between the US and UK and the availability of capital impacts on survival, growth and internationalisation. We conclude by offering insights into how these critical resources can be antecedents to building dynamic capabilities that lead to rapid internationalisation and sustained competitive advantage.

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