Inducement and blocking mechanisms in the Finnish life sciences innovation system

Purpose – This paper aims to identify inducement and blocking mechanisms which impact the development of the life sciences innovation system in Finland. Innovation system analysis of emerging technologies is important for the design of technology-specific innovation policy measures to promote desirable futures Design/methodology/approach – This exploratory study uses a functional technological innovation system analysis framework designed to identify policy goals for emerging technological fields. The data consist of 33 qualitative face-to-face interviews with senior managers and decision-makers. Best practices are identified from the San Francisco Bay Area and the Finnish life sciences innovation system is analyzed in detail. Findings – The Finnish system has a good capability to perform top-level basic research, but the commercial aspect is largely missing because of the lack of business know-how, small size of the domestic market, networking failures, scarcity of funding and poor public image. Research limitations/implications – The two regions have different scopes which prevents direct comparisons between them. Originality/value – This study applies the technological innovation system model to the life sciences industry. It provides new information on the characteristics of the industry and factors affecting its dynamics. The results can be applied for policy design by policy makers.