Abstract
Geographical studies of innovation typically examine the impact of regional institutions on new product and process development. This study considers the influence of these institutional systems on business strategy and firm-level responses to competitive challenges. The paper examines case of Toronto's life science complex and the growing prevalence of a business strategy of hybridization. Toronto's hybrid firms combine core strengths in biotechnology and biomedical technologies with service activities like contract research and manufacturing, blood bank and data management, and device repair and distribution. This strategy is often viewed as a response to lengthy product development cycles, impatient financiers, and the pressure to identify secondary sources of revenue. However, this explanation overlooks an equally compelling rationale stemming from the larger institutional context that shapes and constrains their strategic choices.
| Translated title of the contribution | Building on diversity: Institutional foundations of hybrid strategies in Toronto's life sciences complex |
|---|---|
| Original language | French |
| Pages (from-to) | 589-603 |
| Number of pages | 15 |
| Journal | Regional Studies |
| Volume | 43 |
| Issue number | 4 |
| DOIs | |
| State | Published - May 2009 |
| Externally published | Yes |
Keywords
- Biomedical industry
- Economic development
- Innovation systems
- Institutions
