Exploratory research of 50 biotechnology companies selected from a population of 304 has evidenced shortage of venture capital investment in Brazil. This paper presents theoretical background and context for analysis of Brazilian biotechnology corporate development, investigating possible explanation factors for this VC scarcity. The presentation is divided into five sections. The first section defines terms and introduces the background and context for analysis of biotechnology and bio-industry enterprise; the second section outlines the theoretical approach; the third describes the methodological procedures; the forth presents the results and discussion; the fifth part finalizes the paper with the concluding remarks and future perspectives for research.
biotechnology; venture capital; innovation; scientist-entrepreneur
