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15 employees activity areas beneﬁt biotechno biotechnology industry biotechnology production capital cells cent Chapter chemical producers collaboration conﬁrmed contract customers deﬁnition difﬁcult electronics ﬁrms ensure enterprises entrepreneurs equity held established evidence example expertise external funding external involvement ﬁeld ﬁrm Product Service ﬁrm’s ﬁrst ﬁve genetic engineering high-technology industry high-technology small ﬁrms hybridoma identiﬁed important Incidence independent ﬁrms indicates innovation inputs instruments and electronics internal R&D investment ﬁnance large companies large ﬁrms large-ﬁrm logy major manufacturing marketing ment monoclonal antibodies NBFs new-ﬁrm formation number of ﬁrms Oakey organisations output percentage of equity pharmaceuticals product development product or service Product Service Total product-based ﬁrms proﬁts recombinant DNA reﬂected region scientiﬁc sector semiconductor service orientation signiﬁcant small biotechnology ﬁrms South East South East England speciﬁc start-up strategy study ﬁrms suggests suppliers survey ﬁrms survey sample Table techniques tion United Kingdom venture-capital Zegveld