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By Robert Kneller

The leading edge power of the world's biggest economies, the U.S. and Japan, are in keeping with very varied types of commercial and social association. For the U.S., enterprise businesses play a key function in technical and financial development, whereas in Japan they've got just a very minor position. In Bridging Islands, Robert Kneller argues that with no bright new excessive know-how businesses, eastern will decline inexorably. whilst, if the favorable but smooth surroundings in the United States is undermined, the US will face cave in of its cutting edge and fiscal strength.Japan has performed a lot to enhance its surroundings for prime know-how ventures. It has a few promising new excessive expertise businesses and progressively expanding numbers of entrepreneurial scientists and executives. yet they proceed to swim opposed to the present. One cause is that giant, tested businesses dominate excessive expertise fields and pursue an autarkic innovation strategy-relying on study in-house, in affiliated businesses, or in universities. one more reason is that those related huge businesses nonetheless have preferential entry to school discoveries. hence, excessive expertise ventures are disadvantaged of niches during which to develop, expert team of workers, and their traditional client base. within the box of university-industry kin, steps can nonetheless be taken to enhance the surroundings for top expertise ventures-steps that might most likely additionally raise the standard of collage science.The American-Japanese innovation dichotomy represents a broader dichotomy among so-called liberal and regulated marketplace economies. the teachings from those nations' stories are appropriate to many industrialized international locations, and to constructing international locations shaping their innovation structures. Bridging Islands is an in depth exam of the major position a raffle businesses in nationwide technical and financial good fortune, with very important implications for teachers, researchers, experts, and policy-makers.

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Autarkic Large Companies 33 12. See Henderson, Orsenigo, and Pisano (1999) and Zucker and Darby (1996). The low levels of recruitment of academic scientists was due in large part to prohibitions on national university faculty consulting for private companies and taking leaves of absence to work in companies. These restrictions were eased beginning in 2000. However, another reason is the continuing practice of lifetime employment and internal promotions which has limited the midcareer hiring of outside scientists to at most a few per year in the companies I interviewed.

But in Japan, it has been more common for new technical opportunities to be exploited by established companies moving into new fields, and Chapter 6 examines this phenomenon and tries to explain the factors on which the success or failure of such efforts have depended. Finally, Chapter 7 addresses the larger issue of whether small/new or large/established companies are better at early stage innovation taking into account the importance of intellectual property, mobility of people, and other factors.

In other words, S-P engaged in a common division of labor under which major non-Japanese pharmaceutical companies rely on biotechnology companies4 for drug discovery and early stage development and then capitalize on their greater financial and marketing resources to complete clinical trials and to market the drugs. In contrast, about 40 percent of the drugs in-licensed by the Japanese companies5 had already obtained marketing approval in either the USA or Europe. Their safety and efficacy had already been demonstrated in nonJapanese populations.

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