Stakeholder involvement in product development in the biotech industry

This paper uses new product development theory, business model theory, ecosystem theory, and stakeholder theory to investigate business model change in university spin-off companies. Using a case study method, two companies were investigated. Although the interview subjects mentioned speaking to many different stakeholders at different points in the development process, they could not point out any particular effect of their involvement. Some recommendations for future research are made, and practical relevance, though very limited, is discussed.