Identification of New Biotechnology Venture Success in Europe: Identifying the Linkage between Entrepreneurial Tendencies, Education, and Biotechnology Venture Innovation in Australia

Abstract

The research has been conducted to analyze the identification of new biotechnology venture success through entrepreneurial tendencies, education, and innovation orientation on new venture performance. The continuously increasing research in biotechnology has provided various opportunities for entrepreneurs to utilize their innovative and technical skills to improve the firm's development. In this regard, the collaboration between new biotechnology ventures and big companies has also been an effective business strategy for promoting innovation processes. The quantitative design of research methodology has been adopted to assess the effect of new venture performance through entrepreneurial education, tendencies, and innovative learning. The data was collected through questionnaires and was analyzed using SPSS. The results indicated a significant association between ET and new venture performance; a significant association has resulted in entrepreneurial education and new venture performance, along with a significant relationship between innovation orientation and new venture performance. This study provides benefits for public policymakers to foster maximum growth of entrepreneurial activities. In this regard, providing regulatory support and strengthening the institutional structure to encourage entrepreneurship could be considered.