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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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PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 18 October 2019

Chance, Nécessité, et Naïveté

Chance, Nécessité, et Naïveté

Ingredients to Create a New Organizational Form

Chapter:
(p.379) 13 Chance, Nécessité, et Naïveté
Source:
The Emergence of Organizations and Markets
Author(s):

Walter W. Powell

Kurt Sandholtz

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691148670.003.0013

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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