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Cluster GenesisTechnology-Based Industrial Development$
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Pontus Braunerhjelm and Maryann P. Feldman

Print publication date: 2006

Print ISBN-13: 9780199207183

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199207183.001.0001

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Accounting for Emergence and Novelty in Boston and Bay Area Biotechnology *

Accounting for Emergence and Novelty in Boston and Bay Area Biotechnology *

Chapter:
(p.61) 4 Accounting for Emergence and Novelty in Boston and Bay Area Biotechnology*
Source:
Cluster Genesis
Author(s):

Jason Owen-Smith

Walter W. Powell (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199207183.003.0004

The development of the biotech industry in Boston and the San Francisco Bay area, the two most prominent biotech clusters in the United States, are compared. Their analysis rests on three presumptions: high-tech clusters in particular require both the presence of networks and spatial density, inter-organizational networks serve the dual purposes of being locus of innovation and the underlying support structure that host the institutional and social context necessary for innovation, and, finally, the form and substance of innovation in successful clusters vary over time and with patterns of emergence. It is concluded that a process of convergence has been going on over the last twelve years. Consequently, even though path-dependence and variety in culture and norms determine the trajectory, clusters may still be quite comparable in terms of performance.

Keywords:   science driven, venture capital, convergence, entrepreneurs, institutions

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