Search results for "Exploitation and Exploration"
showing 2 items of 2 documents
CVC AND INNOVATION PERFORMANCE: THE EFFECT OF TECHNOLOGICAL DISTANCE WITH STARTUPS AND COINVESTORS
2018
Firms are increasingly opening their boundaries by engaging in corporate venture capital (CVC) programs as potential gateway into knowledge and technologies of innovative startups. By investing in promising startups across diverse industries with different technological knowledge from the knowledge base of the investing corporate, CVC programs constitute a vehicle for corporates to both exploit and explore innovation opportunities. We first examine the relationship between more explorative CVC investments portfolio and the innovation performance of the corporate. Then, we argue that when syndicating the CVC investments with a co-investor, the portfolio of syndication partners may affect the…
Why corporates syndicate their investments with a specific partner? An explorative analysis of corporate venture capital co-investments
2016
The 80% of corporates that engage in CVC activities, make these investments with other corporates, recognizing the strategic benefits provided by co-investors. Despite the relevance of this phenomenon, no studies focus on the motivations that drive a corporate to syndicate its investments and most important there are no researches that investigate antecedents that drive a corporate in choosing the partner with whom to syndicate the CVC investments. Thus, the aim of this paper is to study why corporates syndicate their CVC investment with a specific partner. Based on the CVC and the alliance literatures we propose a research framework that considers two main elements characterizing a CVC syn…