Intermediaries and Development of Biopharmaceuticals: Evidence From the Innovation Policy in a Developing Country

Motivation The biopharmaceutical industry in Iran has made significant progress in recent years, supported by multiple innovation policies aimed at its development. Nevertheless, challenges such as limited resources, skill and managerial gaps, weak networking, and restricted access to funding and incentives have hindered sustainable innovation. Purpose This study aims to examine the role of intermediaries in supporting biopharmaceutical companies and to analyze how innovation policies influence technological capabilities, networking, human capital development, and access to funding and incentives in Iran. Approach and Methods A qualitative approach was employed, using purposive sampling to select 19 participants from the governmental, academic, and industrial sectors. Data were collected through semi‐structured interviews and analyzed using Braun and Clarke's six‐step thematic analysis (2006). Data credibility and validity were ensured through member checking, triangulation, and independent coding by two researchers. Findings The findings indicate that innovation policies have advanced across four main dimensions—exploitation of results and production, networking and facilitation, human capital, and funding and incentives—but each dimension faces specific challenges. Intermediaries, including accelerators, technology centers, industry associations, and specialized investment funds, play a key role in addressing these challenges by providing practical training, financial and technical support, facilitating cross‐sector collaborations, and establishing professional networks, thereby fostering sustainable development and innovation in the biopharmaceutical sector. Policy Implications Strengthening intermediaries and implementing targeted policies based on companies' real needs can enhance the effectiveness of innovation policies, reduce import dependence, and improve the global competitiveness of Iran's biopharmaceutical industry.