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The Emergence of Organizations and Markets$
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John F. Padgett and Walter W. Powell

Print publication date: 2012

Print ISBN-13: 9780691148670

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691148670.001.0001

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Chance, Nécessité, et Naïveté

Chance, Nécessité, et Naïveté

Ingredients to Create a New Organizational Form

(p.379) 13 Chance, Nécessité, et Naïveté
The Emergence of Organizations and Markets

Walter W. Powell

Kurt Sandholtz

Princeton University Press

This chapter analyzes the early years of the first generation of biotechnology companies. The setting is the 1970s, a time when landmark scientific discoveries in molecular biology triggered all manner of perturbations in university science, pharmaceutical research, and venture finance. The result was the creation of a new form—a science-based commercial entity, which emerged from overlapping networks of science, finance, and commerce. This novel collection of organizational practices that coalesced into a dedicated biotech firm (DBF) proved highly disruptive. Using historical analysis of archival materials, supplemented by interviews with DBF founders, this chapter pieces together the “lash-up” process that melded elements from three separate realms—academic science, venture finance, and commercial health care—into an interactively stable pattern.

Keywords:   biotechnology companies, molecular biology, university science, pharmaceutical research, venture finance, 1970s, dedicated biotech firm

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