Biotechnology entrepreneurship and performance of industrial products: highlighting the roles played by innovation management and innovation efficiency (UK)

Abstract

The present study aimed to investigate the impact of biotechnology entrepreneurship (BIOE) on the performance of industrial products (PERF) in the UK. The research framework developed incorporated the mediating impact of innovation management (INNM) and innovation efficiency (INNE). Therefore, the study employed a quantitative research methodology to statistically analyse the sample of 312 respondents. Various statistical techniques were utilized, including descriptive and reliability tests. Furthermore, data were analyzed through ANOVA and hierarchical regression analysis. The findings of the study demonstrated a significant association between BIOE and PERF. Furthermore, INNM and INNE were found to significantly mediate the relationship between BIOE and PERF. By incorporating INNM and INNE along with BIOE, a significant increase in variation in PERF was observed. The research findings contribute significantly through theoretical and practical implications. Our findings add further importance to strategies focused on innovation management and efficiency. Finally, we highlighted the limitations of our study, and provided future research recommendations.