The Internationalisation of Biotech SMEs: A Comparative Analysis of UK and US Firms

The accelerated globalisation of world markets in the last 30 years has increased the importance of internationalisation models for both academics and practitioners. The internationalisation process of SMEs is one of the newest developments in this area, with major implication for the strategic orientation of small firms. However, this phenomenon has to be considered in relation with the specific characteristics for various market environments and industrial sectors. This study attempts to analyse the impact of the domestic market profile on the internationalisation process of biotech SMEs in US and UK, outlining the similarities and the differences between these two countries.