The major contribution of this study lies in the development of a methodology for studying patterns of dynamics of emerging technologies. Our main research question includes: How can patterns of technology dynamics of emerging technologies be conceptualized? And more specifically to the Dutch biotech case: Which patterns of technology dynamics could be discerned at Dutch dedicated life sciences firms (DDLSFs)? We develop a new approach for conceptualizing patterns of technology dynamics, using an ‘opportunity matrix’ as the starting point and presenting these patterns by network visualization. We illustrate this new conceptualization by an exemplary case study of emerging biotechnology developments in the Dutch/life sciences sector. Our results show a growing diversity within subsequent populations of newly founded firms over time. Individual newly founded firms were shown to be mainly specialists, working on one technological subfield.