The Linkage between Entrepreneurship and Biotechnology Venture Performance: Identifying the Role Played by the Industry Environment

Abstract

Studies have shown that entrepreneurial activities are essential for ensuring the strategic development and growth of firms working within the biotechnology industry. This study focused on the biotechnology sector in Malaysia as it is one of the high-technology industries that can help the Malaysian economy become well-developed and stable. Investigating factors like the industry environment and entrepreneurial orientation allows the searcher to understand how the overall development of this industry can be nurtured. The researcher gathered data from 200 respondents within the industry, which showed that there is a significant positive impact of entrepreneurial orientation on project performance. As for the moderation impact, it is found that a negative industry environment can lead to reducing the positive effects of entrepreneurial orientation on project performance within the innovative biotechnology industry. Therefore, future studies need to focus on mechanisms of reducing negative elements in the industry environment to ensure better project performance.