Long-term strategy that works.
Choosing business partners and affiliates can make or break your business. The dynamic of the pharmaceutical and biotechnology industries are changing. With the biotech revolution looming, large pharmaceutical companies are re-evaluating how they handle research and development. No longer do large companies rely on their own in-house R&D, but look to small companies to acquire new technologies. For tiny biotech firms, forming partnerships is everything. Knowing how to attract strategic partners that can help move you to the next level is a must.
The founders and the start-up reputation, in the early stages are almost synonymous. How the personality and credibility of the principle founders are perceived is paramount to the success of the start-up. Reputation has to do with the previous actions of the founders, where status has to do with the ranking, in published articles, university affiliations and corporate alliances. Results in clinical research should also paly a role, but it is difficult to get to that point without reputation and status requirements being met.
The greater a founding scientist’s reputation, the more likely a valuable partnership will be established and the more successful the company will be.
“Reputation,” they write in the paper, “is determined by the value or quality of one’s previous actions, while status is determined according to a socially constructed ordering or ranking.” So the researchers looked at 325 partnerships created between 1990 and 2003, hoping to tease apart the respective roles of status and reputation. For their study, the researchers equated status with the academic ranking of the university from which a firm’s founder or top scientist graduated, and reputation with his or her publication counts and citation rates.”