This article traces the trajectory of biotechnology firms, clusters and collaborations in
Australia between 2003 and 2014. Combining descriptive analyses, network visualizations
and statistical modelling of longitudinal data collected from multiple sources, we investigate
Australian firms' ability to overcome the three challenges characterizing biotechnology: first,
accessing new knowledge and intellectual property; second, raising early-stage funding for
timely product development; and third, bringing products to market. Like biotechnology firms …

(Casper 2007; Gay and Dousset 2005; Liebeskind, et al. 1996; Powell, et al. 1996; Powell
and Sandholz 2012) that is distinct from markets and hierarchies, grounded in trust and
suited to advanced technology industries (Powell 1990). Dedicated biotechnology firms
(DBFs) routinely form collaborative ties with diverse types of partners, thereby generating
interorganizational networks. An extensive literature celebrates how such networks promote
learning, innovation and performance, giving rise to a virtuous cycle where networks …