IDEAS home Printed from https://ideas.repec.org/a/eee/worbus/v39y2004i3p296-306.html
   My bibliography  Save this article

Stimulating innovation through corporate venture bases

Author

Listed:
  • Husted, Kenneth
  • Vintergaard, Christian

Abstract

A common shortcoming, both in the literature on corporate venturing and in practice, is insufficient or no attention to the ability and responsibility of firms to stimulate and influence the creation of innovative ideas that can lead to new ventures. This paper focuses on the initial process of corporate venturing and explores how corporate venture management can stimulate the generation of genuinely original and dynamic ideas by establishing and maintaining a venture base. The following concrete actions are proposed in order to promote and improve the functionality of the venture base: take responsibility, secure access, acquire network capabilities, gain competencies in how to influence the vision and agendas in knowledge-creating networks, contextualize, and invite to discussion at an early stage. The paper is mainly conceptual in nature but draws on 22 semistructured interviews conducted between 2000 and 2002 with managers of corporate venturing departments at six multinational Danish firms in knowledge-intensive industries. The interviews are used to illustrate the main arguments of the paper.

Suggested Citation

  • Husted, Kenneth & Vintergaard, Christian, 2004. "Stimulating innovation through corporate venture bases," Journal of World Business, Elsevier, vol. 39(3), pages 296-306, August.
    • Handle: RePEc:eee:worbus:v:39:y:2004:i:3:p:296-306
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1090951604000161
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Robert A. Burgelman, 1985. "Managing the new venture division: Research findings and implications for strategic management," Strategic Management Journal, Wiley Blackwell, vol. 6(1), pages 39-54, January.
    2. Ginsberg, Ari & Hay, Michael, 1994. "Confronting the challenges of corporate entrepreneurship: Guidelines for venture managers," European Management Journal, Elsevier, vol. 12(4), pages 382-389, December.
    3. Peter J. Lane & Michael Lubatkin, 1998. "Relative absorptive capacity and interorganizational learning," Post-Print hal-02311860, HAL.
    4. Haddad, Mona & Harrison, Ann, 1993. "Are there positive spillovers from direct foreign investment? : Evidence from panel data for Morocco," Journal of Development Economics, Elsevier, vol. 42(1), pages 51-74, October.
    5. Paul Gompers & Josh Lerner, 2001. "The Venture Capital Revolution," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 145-168, Spring.
    6. Zahra, Shaker A. & Covin, Jeffrey G., 1995. "Contextual influences on the corporate entrepreneurship-performance relationship: A longitudinal analysis," Journal of Business Venturing, Elsevier, vol. 10(1), pages 43-58, January.
    7. Patricia G. Greene & Candida G. Brush & Myra M. Hart, 1999. "The Corporate Venture Champion: A Resource-Based Approach to Role and Process," Entrepreneurship Theory and Practice, , vol. 23(3), pages 103-122, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Narayanan, V.K. & Yang, Yi & Zahra, Shaker A., 2009. "Corporate venturing and value creation: A review and proposed framework," Research Policy, Elsevier, vol. 38(1), pages 58-76, February.
    2. Andersson, Ulf & Dasí, Àngels & Mudambi, Ram & Pedersen, Torben, 2016. "Technology, innovation and knowledge: The importance of ideas and international connectivity," Journal of World Business, Elsevier, vol. 51(1), pages 153-162.
    3. repec:dau:papers:123456789/5648 is not listed on IDEAS
    4. Steven Rottmann, 2019. "Corporate Venturing Evaluation: How Start-Up Performance is Measured in Corporate Venturing During the Collaboration Phase," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 5(2), pages 185-199.
    5. Burgers, J.H. & van den Bosch, F.A.J. & Volberda, H.W., 2007. "The Impact of Corporate Venturing on a Firm’s Competence Modes," ERIM Report Series Research in Management ERS-2007-061-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    6. Bojica, Ana Maria & Fuentes, Maria del Mar Fuentes, 2012. "Knowledge acquisition and corporate entrepreneurship: Insights from Spanish SMEs in the ICT sector," Journal of World Business, Elsevier, vol. 47(3), pages 397-408.
    7. Masucci, Monica & Parker, Simon C. & Brusoni, Stefano & Camerani, Roberto, 2021. "How are corporate ventures evaluated and selected?," Technovation, Elsevier, vol. 99(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Audretsch, David B. & Lehmann, Erik E. & Menter, Matthias & Wirsching, Katharine, 2021. "Intrapreneurship and absorptive capacities: The dynamic effect of labor mobility," Technovation, Elsevier, vol. 99(C).
    2. Vareska Van de Vrande & Wim Vanhaverbeke, 2013. "How Prior Corporate Venture Capital Investments Shape Technological Alliances: A Real Options Approach," Entrepreneurship Theory and Practice, , vol. 37(5), pages 1019-1043, September.
    3. Janice Byrne & Frédéric Delmar & Alain Fayolle & Wadid Lamine, 2016. "Training corporate entrepreneurs: an action learning approach," Small Business Economics, Springer, vol. 47(2), pages 479-506, August.
    4. Azulay, Israel & Lerner, Miri & Tishler, Asher, 2002. "Converting military technology through corporate entrepreneurship," Research Policy, Elsevier, vol. 31(3), pages 419-435, March.
    5. Donald F. Kuratko & R. Duane Ireland & Jeffrey G. Covin & Jeffrey S. Hornsby, 2005. "A Model of Middle–Level Managers’ Entrepreneurial Behavior," Entrepreneurship Theory and Practice, , vol. 29(6), pages 699-716, November.
    6. Burgers, J.H. & van den Bosch, F.A.J. & Volberda, H.W., 2007. "Why New Business Development Projects Fail: Coping with the Differences of Technological versus Market Knowledge," ERIM Report Series Research in Management ERS-2007-072-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    7. Bidyut Baruah & Anthony Ward, 2015. "‘X’Trapreneurship- A Holistic Approach To Bring Clarity In Entrepreneurial Research," Working papers 2015-06-17, Voice of Research.
    8. Burgers, J. Henri & Jansen, Justin J.P. & Van den Bosch, Frans A.J. & Volberda, Henk W., 2009. "Structural differentiation and corporate venturing: The moderating role of formal and informal integration mechanisms," Journal of Business Venturing, Elsevier, vol. 24(3), pages 206-220, May.
    9. Shaker A. Zahra & Daniel F. Jennings & Donald F. Kuratko, 1999. "The Antecedents and Consequences of Firm-Level Entrepreneurship: The State of the Field," Entrepreneurship Theory and Practice, , vol. 24(2), pages 45-65, December.
    10. Sinani, Evis & Meyer, Klaus E., 2004. "Spillovers of technology transfer from FDI: the case of Estonia," Journal of Comparative Economics, Elsevier, vol. 32(3), pages 445-466, September.
    11. Bojica, Ana Maria & Fuentes, Maria del Mar Fuentes, 2012. "Knowledge acquisition and corporate entrepreneurship: Insights from Spanish SMEs in the ICT sector," Journal of World Business, Elsevier, vol. 47(3), pages 397-408.
    12. Mair, Johanna & Rata, Cristina, 2004. "Corporate entrepreneurship: Linking strategic roles to multiple dimensions of performance," IESE Research Papers D/551, IESE Business School.
    13. Denis A. Grégoire & Martin X. Noël & Richard Déry & Jean–Pierre Béchard, 2006. "Is There Conceptual Convergence in Entrepreneurship Research? A Co–Citation Analysis of Frontiers of Entrepreneurship Research, 1981–2004," Entrepreneurship Theory and Practice, , vol. 30(3), pages 333-373, May.
    14. Marco Da Rin & María Fabiana Penas, 2017. "Venture capital and innovation strategies," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(5), pages 781-800.
    15. M.ª Magdalena Jiménez-Barrionuevo & Luis M. Molina & Víctor J. García-Morales, 2019. "Combined Influence of Absorptive Capacity and Corporate Entrepreneurship on Performance," Sustainability, MDPI, vol. 11(11), pages 1-26, May.
    16. Rodrigo Martín-Rojas & Virginia Fernández-Pérez & Encarnación García-Sánchez, 0. "Encouraging organizational performance through the influence of technological distinctive competencies on components of corporate entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-30.
    17. Da Rin, M. & Penas, M.F., 2015. "Venture Capital and Innovation Strategies," Other publications TiSEM 12c9c009-13c2-4579-aa87-4, Tilburg University, School of Economics and Management.
    18. Lee, Simon U. & Park, Gunno & Kang, Jina, 2018. "The double-edged effects of the corporate venture capital unit's structural autonomy on corporate investors' explorative and exploitative innovation," Journal of Business Research, Elsevier, vol. 88(C), pages 141-149.
    19. Narayanan, V.K. & Yang, Yi & Zahra, Shaker A., 2009. "Corporate venturing and value creation: A review and proposed framework," Research Policy, Elsevier, vol. 38(1), pages 58-76, February.
    20. Fernando Ubeda & Francisco Pérez-Hernández, 2017. "Absorptive Capacity and Geographical Distance Two Mediating Factors of FDI Spillovers: a Threshold Regression Analysis for Spanish Firms," Journal of Industry, Competition and Trade, Springer, vol. 17(1), pages 1-28, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:worbus:v:39:y:2004:i:3:p:296-306. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/620401/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.