A Concurrent Analysis of Three Institutions that Transform Health Technology‐Based Ventures: Economic Policy, Capital Investment, and Market Approval. Issue 5 (29th April 2017)

• Record Type: Journal Article
• Authors: Lehoux, Pascale; Daudelin, Geneviève; Denis, Jean‐Louis; Miller, Fiona A.
• Is Part Of: Review of policy research. Volume 34:Issue 5(2017)
• Page Start: 636
• Page End: 659
• Publication Date: 2017-04-29
• Subjects: health technology development -- ventures -- institutions -- systems of innovation -- innovation policy -- regulation -- academic spin‐offs -- health policy; Policy sciences -- Periodicals; Social sciences -- Periodicals; 320.6
• DOI: 10.1111/ropr.12246
• Languages: English
• ISSNs: 1541-132X

Abstract

Abstract: Drawing on institutional theory, this article articulates qualitative insights from a program of research on Canadian health technology‐based ventures to examine the rules that characterize economic policy, capital investment, and regulatory approval as well as the way these institutions enable and constrain the development of ventures at an early stage. Our findings clarify how economic policy integrates these ventures into the entrepreneurial domain, how capital investment configures them for economic value extraction, and how regulatory approval fully releases their market value. These findings help to revisit current policy modernization initiatives by calling attention to the convergence among the three institutions. Rather than operating solely as a source of constraints, these institutions provide a highly integrated market‐oriented space for health technology‐based entrepreneurial activities to unfold.