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Browsing by Subject "business"

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  • Larmala, Saara (2023)
    The field of gene technology, which falls under the umbrella of biotechnology, presents challenges in business development and commercialisation. Understanding the field characteristics is crucial for successful commercialisation, as it can significantly impact the available strategies for bringing products or services to market, ultimately shaping the business model. This study aims to investigate and understand the challenges associated with commercializing gene technology, including identifying any typical challenge profiles specific to the field and possibly arising from the biological material. The research involves semi-structured interviews with multiple companies, venture capitals, and experts in the field to gain a comprehensive understanding of the challenges. The collected data is then analysed to identify common characteristics and business practices against a commercialisation model frame. The motivation behind this study is to provide researchers and other stakeholders with insights into the challenges they may face while commercializing gene technologies, with the aim of lowering the threshold for business creation. The findings reveal that there are two major groups of companies, each with their specific challenges. The challenges for the major group revolve around business know-how, HR, and sales, while the minor group faces challenges related to technology and regulation. However, a common theme is the limited market awareness among customers, which requires significant efforts in sales, marketing, and communications. The study provides guidance to company founders on the different challenges they should be prepared for and offers insights to society on how to harness the value of gene technologies.