Design principles for corporate venture transition processes in established technology firms |
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Authors: | Elco van Burg Sjoerd de Jager Isabelle M. M. J. Reymen Myriam Cloodt |
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Affiliation: | 1. Department of Management and Organization, Faculty of Economics and Business Administration, VU University Amsterdam, , 1081 HV Amsterdam, The Netherlands;2. Department of Industrial Engineering & Innovation Sciences, Eindhoven University of Technology, , 5600 MB Eindhoven, The Netherlands |
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Abstract: | Corporate venturing has become a well‐known approach toward new business development and strategic renewal for established technology firms. However, without an effectively designed process for aligning and integrating a corporate venture in the established business, the firm increases the risk of venture failure. This paper provides a process perspective on corporate venture transition. Based on the results of an empirical study of six corporate venture transition processes, we present suitable actions for each of the different phases of the venture transition process. In addition, we indicate the proper timing for venture transition, which is one of the long‐standing difficulties in this area. Finally, we integrate the results of the empirical study with knowledge from extant literature in a set of design principles. These design principles provide practical guidelines to improve corporate venture transition processes. |
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