This paper investigates how firms adapt their innovation strategies to cope with constraints in national institutional environments. It is a comparative case study of Dutch and British dedicated biotechnology firms focusing on a particular type of strategy, the hybrid model. Patterns of skill accumulation and learning present in the Dutch hybrids are indications of how they use institutional advantages to focus on low-risk innovation and build deeper competences while also pursuing high-risk innovation strategies. The Dutch hybrid offers insight into how firms comply with the dominant logic of the biotechnology field even when their institutional frameworks encourage the pursuit of low-risk innovation strategies.
biotechnology national business systems national innovation systems varieties of capitalism institutional entrepreneurship