Dynamics in business models: An empirical analysis of medical biotechnology firms in the Netherlands.

In this paper, business models of Dutch dedicated biothechnology firms (DBFs) that are active in the field of medical biothecnology are examined. The focus os on the dynamics in business models within the Dutch population and the mechanisms that generate these dynamics. Futhermore, we propose a value-added sequence of the business model of a firm over time and examine if this sequence is found in the population of the Dutch DBFs. We focus on the business models at founding and the shifts that occurred in these business models afterwards. Therefore, data on a survey completed by 80 Dutch DBFs was used together with longitudinal data on shifts in business models of four case studies. We show that both generation of new firms, due to shifts in the dominating business model at founding over time, and shifts in business models after fouding contribute to the dynamics in business within this population.