The paper explores the process of early growth of entrepreneurial science-based firms. Drawing on case studies of British and Dutch biopharmaceutical R&D firms, we conceptualize the speed of early growth of science-based firms as the time it takes for the assembly (or combined development) of three types of critical resources - a functionally-diverse management team, early fundraising and development of technology. The development of these resources is an unfolding and interrelated process, the causal direction of which is highly ambiguous. We show the variety of paths used by science-based firms to access and develop these critical resources. The picture that emerges is that the various combinations of what we call "assisted" and "unassisted" paths combine to influence the speed of firm growth. We show how a wide range of manifestations of technology development act as signaling devices to attract funding and management, affecting the speed of firm development. We also show how the variety of paths and the speed of development are influenced by the national institutional setting.
Across European cities local entrepreneurs are joining forces in new ways, forming collectives to stimulate business growth and innovation and to create a more attractive business environment. The value of such collectives is increasingly recognized by local governments and policy measures to stimulate these initiatives are being developed. Amsterdam hosts different collaborative initiatives, including 39 business improvement districts (BIDs).The Knowledge Mile is such a collective in which shopkeepers, other local SMEs, residents work together to collectively improve a large retail area. The city of Amsterdam is also a stakeholder. Government can fill an important role in enabling the creation of collective resource management in urban settings. However, if effective regulation is missing, citizens and governing bodies have to look for incentives to find new means of addressing governance. As such, the potential for collective management of urban commons may be greater than realized so far, as there is still a lack of knowledge in this area. In this paper, we aim to bridge this gap. By means of an embedded case study approach, we analyze the interaction between the stakeholders in their development of a green zone, the Knowledge Mile Park, in the Wibautstraat. In the coming years, roofs, facades and ground level will be changed through a collaboration of residents, entrepreneurs, researchers, civil servants and students in a metropolitan Living Lab. In this Living Lab, solutions for a healthy and social environment, climate resistance and biodiversity are jointly developed, tested and shown. In our study, we will analyze the role of the governing bodies in such initiatives, and make recommendations how collectives can become more mainstream with new kinds of institutions, without an undue burden on the community.
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