Entrepreneurial perspectives on biotechnology firms support in Sweden

Purpose This study aims to investigate how Swedish biotechnology entrepreneurs perceive and navigate resource challenges across the early and development stages of firm growth. It focuses particularly on the evolving role of incubators and other support actors and how these influence firm development in science-based entrepreneurship. Design/methodology/approach Structured interviews were conducted with 16 biotechnology entrepreneurs in Sweden, comprising eight from early-stage and eight from development-phase firms. The interviews were analyzed thematically to identify patterns in resource constraints, financing experience, institutional support and incubator engagement across the biotechnology firms’ lifecycle. Findings Biotechnology firms face shifting resource needs as they grow. Early-stage firms relied heavily on incubators, universities and public agencies for technical support, legitimacy and network access, while development-stage firms exhibit greater strategic independence and reduced reliance on incubators. Funding challenges persisted across stages, with public agencies and business angels viewed as the most impactful support actors. The role of incubators is shown to be dynamic, evolving from high-intensity collaborators in early stages to occasional strategic partners in the development phase, offering more targeted support as firms gain internal capabilities and networks. Originality/value The study contributes to entrepreneurship theory by combining the resource-based view, dynamic capabilities and social capital theory to explain how biotechnology entrepreneurs perceive and navigate the mobilization and reconfiguration of critical resources. It offers a stage-sensitive view of network-building and strategic adaptation in science-based ventures.