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Factors Influencing the Born Global Startups' Choice of Internationalization Strategies in the Biotech Industry

Student: Eduard Paseka

Supervisor: Ekaterina V. Buzulukova

Faculty: Faculty of World Economy and International Affairs

Educational Programme: International Business (Master)

Year of Graduation: 2019

The growing level of globalization became the trigger for the emergence of born global companies in the 1990s. Nowadays, research of such companies’ internationalization strategies is highly demanded, because every day the number of born global startups is growing rapidly. Entrepreneurs, who want to aim their business strategy on international activities, have to understand the key factors influencing the choice of internationalization strategies. We also consider another rapidly growing trend — the development of the biotech industry and rapid growth of biotech born global startups in particular. So, in this master thesis we combined these two trends and developed the research of key factors affecting biotech born global startups’ choice of internationalization strategies. The work consists of three chapters. The first chapter presents the main findings of existing research in the field of traditional models and internationalization strategies of born global startups in the biotech industry. The second chapter includes review of the theoretical aspects of the concept of "biotechnology", examines the history of the modern biotech industry and presents a current analysis of the global biotech market as well as two case studies of two startups’ internationalization processes. In the third chapter recommendations for entrepreneurs who aimed to establish biotech born global startups as well as for future researchers were given Recommendations given in this research will be useful for modern entrepreneurs who aim to develop a biotech born global startups or to internationalize an existing business.

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