Linking entrepreneurial success factors with the performance of Biotechnology firms: The moderating role of entrepreneurial education

Abstract

The purpose of this study was to investigate the effect of individual characteristics (IC), external business environment (EBE), and supportive entrepreneurial factors (SF) on firm performance (FP) in the French biotechnology industry. Entrepreneurial education (EE) was adopted as a moderator. The study surveyed the biotechnology employees in the marketing, R&D, and operations departments through online questionnaires. The response of 287 employees was evaluated, and it was revealed that the association between IC and FP was significant and positive. The relationship between EBE and FP was significant, and SF also significantly impacted FP. Furthermore, IC’s impact on FP was found to be moderated by EE. The indirect effect of EE was significant between the association of EBE and FP. Biotech firms should emphasize building self-efficacy among employees and capitalize on the dynamic and competitive environment. The study provides implications for the biotech industry.