“…High price competition leading to high price sensitivity, especially in B2C food products, (Bunduchi & Smart, 2010;Trott & Simms, 2017) High product failure rates leading to increased costs and reticence towards R&D expenditure, especially in B2C food products (Fuller, 2016;Trott & Simms, 2017) Lack of consumer knowledge and perceived usefulness for biotechnology products Reticence towards genetically modified or bioengineered food and agriculture products, especially in Europe -need for sociopolitical legitimacy (Bray & Ankeny, 2017;Gostin, 2016;Hess, Lagerkvist, Redekop, & Pakseresht, 2016) Low acceptance rate of novel raw materials and production technologies in food (Frewer et al, 2011;Golembiewski, Sick, & Bröring, 2015) High consumer visibility-even for B2B innovations-due to strong consumer opinion driven by social, cultural, personal, and nutritional associations with food (Falk et al, 2002;Huesing et al, 2016;Loebnitz & Bröring, 2015;McCluskey et al, 2016) Sensitivity to changes in government policy, consumer sentiment, lobbying interests Detre, Briggeman, Boehlje, & Gray, 2006) Sensitivity to political instabilities, economic and health crises Detre et al, 2006) Discordance between industry-and consumer-acceptable appropriability regimesconsumer driven trend towards transparency at odds with historical use of trade secrets in industry -need for sociopolitical legitimacy (Duarte Canever et al, 2008;Pant et al, 2015;Trienekens et al, 2012;Wognum et al, 2011) Product-market fit -Platform technologies Difficult product-market fit and business model requirements due to broad implementation of common tool sets and general-purpose technologies, especially in synthetic biology (Gambardella & McGahan, 2010) Requirement for custom application development work to tailor platform technologies to different subsets of FAB sector, especially in broad based agricultural technologies (Fuglie & Kascak, 2001) Product-market fit -Industry convergence High degree of market-driven convergence responding to changing consumer preferences and regulatory landscapes M A N U S C R I P T A C C E P T E D…”