Management experience is good for new biotech companies

Industry managers are successful

They not only come from the country’s universities but have also “grown up” in the pharmaceutical industry. We are talking about the founders of Danish biotech companies and according to Professor Finn Valentin from CBS their specific background is part of the explanation for Denmark’s solid lead within the biotech sector.

Know the market

- The biotech sector is developing faster in Denmark than in Sweden and part of the explanation is that the Danish founders are familiar with the way problems present themselves, says Finn Valentin who together with Rasmus Lund from Centre on Biotech Business is behind an actual report on the subject.

While half of the Danish bio founders come from the industry, in Sweden it is only 15%. Instead they mostly come from the universities.

The composition is paramount

It is an advantage for Denmark that the industry managers know the market, have a better understanding of the economical conditions of the companies and have management experience. Not only the founders’ background but also another factor is important for success.

- It seems that the composition of the founder team is important. We are looking into this aspect but it seems that Denmark has an advantage in that we have easier access to the business aspect, says Finn Valentin.

Three reports

Research Centre on Biotech Business in collaboration with Pharmadanmark has done three reports, which compare Swedish, Norwegean and Danish biotech companies.

The first two reports show that Danish biotech companies are much better at attracting venture capital that the Swedish companies and the Danes commence more projects and patents per employee. The latest report ”The Imprint of founders on biotech firms” documents the fact that the background and experience of the founders is of great importance.