Biopharma Innovation Models for Gulf Region in the Era of Globalisation

Literature Survey

Innovation has been long recognized as a significant source of national economic growth (Shupeter, 1942). It is a powerful element in the economic success of both developed and developing countries.

Innovation is the process by which firms master and get into the practice product design and manufacturing processes that are new to them whether or not they are new to the universe, or even nation (Nelson, 1993).

Each sector has different requirements for innovation and requires different institutional set up. Biotechnology innovation systems process certain characteristics that distinguish them from those of other sectors. Biopharma innovation is a complex science which needs greater scientific skills and knowledge and at each stage of biopharma innovation learning is required and such learning can come from different channels (Oyeyinka & Sampath 2006).