Building a bioeconomy in the heartland

Purpose - The purpose of this paper is to investigate the gap between the resources required to build a strong biotechnology ecosystem in Nebraska and the perception of resources currently available within the state for doing so. Design/methodology/approach - Using resource‐based theory along with data from a Battelle survey commissioned by BioNebraska, the authors first identify the human and financial capital needed to support a viable biotechnology industry sector, benchmarking with other regions currently undertaking such development. The authors then compare identified resource requirements with data from a survey of BioNebraska members regarding their perceptions of the importance of these resources to, and their availability within, Nebraska. Findings - This process revealed gaps in several key resource areas that could impede the state's ability to achieve its sector development goals. Practical implications - In the authors' view, understanding the gap between resources required and resources available for building a high technology industry sector, as well as benchmarking against the competition, are key first steps in developing successful economic policy. Originality/value - The paper discusses the implications of gaps in several key resource areas for future success and makes recommendations for possible ways in which Nebraska decision makers might develop necessary resources. Also addressed is the importance of considering the perceptions of key stakeholders and decision makers regarding the resources required for developing knowledge industries such as biotechnology.