Extending Open Innovation: Orchestrating Knowledge Flows from Corporate Venture Capital Investments

Gutmann, Tobias; Chochoiek, Christopher; Chesbrough, Henry

doi:10.1177/00081256221147342

Cited by 8 publications

(1 citation statement)

References 36 publications

(41 reference statements)

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“…The article by Gutmann et al, Extending Open Innovation: Orchestrating Knowledge Flows from Corporate Venture Capital Investments, 75 focuses on corporate venture capital (CVC) as a firm-level strategy and organizational form to enable value creation and value capture from open innovation. Based on archival data and 77 interviews with senior decision makers in CVC units, the article develops a novel yet intuitive framework of the sources and applications of knowledge in CVC innovation processes.…”

Section: The Article By Rayna Et Al Commercialization Strategies Of L...mentioning

confidence: 99%

Creating and Capturing Value from Open Innovation: Humans, Firms, Platforms, and Ecosystems

Majchrzak

Bogers

Chesbrough

et al. 2023

California Management Review

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Open innovation rests on the idea that not all the smart people work only for you, and managing human interaction across organizational boundaries is therefore central to open innovation. This article starts with outlining and reviewing research on this human dimension of open innovation. The article develops seven principles of innovation-producing encounters that can guide managers in enabling value creation through open innovation. We continue by introducing the rest of the special section, which expands beyond the human dimension to also include firms, platforms, and ecosystems, with important implications for the creation and capture of value from open innovation.

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Section: The Article By Rayna Et Al Commercialization Strategies Of L...mentioning

confidence: 99%

Creating and Capturing Value from Open Innovation: Humans, Firms, Platforms, and Ecosystems

Majchrzak

Bogers

Chesbrough

et al. 2023

California Management Review

Self Cite

View full text Add to dashboard Cite

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Heterogeneity in organizational search behaviors: The case of corporate venture capital units

Shankar,

Schückes,

Gutmann

2024

Strategic Entrepreneurship

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Research SummaryOur qualitative study of five corporate venture capital (CVC) units reveals that CVC is organized along one of two distinct pathways—order‐taker or free‐bird. Our two‐pathway model deconstructs the heterogeneity within CVC designs and provides detailed insights into the processual nature of CVC search mechanisms. We find evidence that the locus of problem formulation influences the chosen search behavior. While order‐takers respond to predefined corporate‐led problem formulation, free‐birds allow the venture market to guide search behavior. Differences in search processes can thus be attributed to the pursuit of distinct problem‐solution pairs. Implications for CVC and organizational search literature are discussed.Managerial SummaryOrganizations search for new knowledge and technologies using corporate venture capital (CVC) units. Despite growing evidence of heterogeneity in CVC designs, managers continue to have limited insights for designing and running such CVC units. In contrast to previous recommendations to use structural attributes and/or institutional logics to design and manage CVCs, we provide managers an organizational search lens which reveals significant variations in how corporations search for new ventures. We identified two extreme CVC designs driven by the locus of problem formulation (internal vs. external): order‐takers—who respond to a predefined and corporate‐led problem formulation approach, and free‐birds—who shape the problem formulation guided by venture market dynamics. We point to design differences across popular CVC subprocesses which can be handy for managers.

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Design dimensions of corporate venture capital programs—a systematic literature review

Frey,

Kanbach

2023

Manag Rev Q

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There is a plethora of research on organisational design elements of corporate venture capital (CVC) programs. However, the fragmented nature of this vein of corporate venturing research has led to an inconsistent picture regarding the organisational design of CVC programs. The goal of this study is to provide a holistic picture for both scholars and practitioners by integrating empirical research on the design of CVC programs. Therefore, the study employs a systematic literature review approach including a sample of 41 studies published from 1987 to 2023. For a systematic assessment of design elements of CVC programs, an inductive concept development approach is used to illustrate four main design dimensions–personnel, corporate relationship management, investment operating model and portfolio relationship management–which reflect 69 descriptive design elements. While previous studies have mainly looked at individual design dimensions of CVC programs from a strategic perspective, this paper presents comprehensive view on organisational structures of CVC programs by identifying building blocks of CVC design according to chosen objectives and available typologies. By specifying and allocating design dimensions to structural types and objectives of CVC programs, this study may also serve as a foundation for further research on the concepts which prevent high rates of early abandonment of CVCs.

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Extending Open Innovation: Orchestrating Knowledge Flows from Corporate Venture Capital Investments

Cited by 8 publications

References 36 publications

Creating and Capturing Value from Open Innovation: Humans, Firms, Platforms, and Ecosystems

Creating and Capturing Value from Open Innovation: Humans, Firms, Platforms, and Ecosystems

Heterogeneity in organizational search behaviors: The case of corporate venture capital units

Design dimensions of corporate venture capital programs—a systematic literature review

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