Natalie Laibach, Carolin Kamrath, S. Bröring, Lucia Brandt
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Startup selection criteria for corporate venturing: what matters for incumbents
: Incumbent companies face increasing pressures to become more sustainable, and thus, to strategically renew themselves. To proactively adjust to the changing environment, incumbents can engage in collaborations with start-ups by means of corporate venturing. As one of the first steps of the venturing process, a better understanding of the selection of start-ups for corporate venturing activities is needed to further systemise and align the activities. Through a systematic literature review, this study provides an overview of existing start-up selection criteria, which are validated by means of expert interviews with incumbents. We find that for incumbents, criteria related to the team, the product and technology, the market as well as to financial and strategic characteristics are pivotal whereas criteria related to transitions seem to play a subordinated role. Our findings highlight the necessity of a coherent and aligned venturing strategy to foster the successful renewal of incumbents in eras of transition
期刊介绍:
The journal name relates to Harvard Business School''s understanding of "The Entrepreneurial Venture" (Sahlmann/Stevenson/Roberts/Bhidé), the concept of entrepreneurship not only limited to new ventures/start-ups, but further understood as the concentration of opportunity/growth/value creation regardless of company size, age or kind. Hence, IJEV addresses organisational processes surrounding these concepts: from an idea to an innovation. To bridge the gap between innovation and entrepreneurship research, IJEV emphasises implications of this new knowledge for researchers, managers, public policy makers and business educators. Topics covered include: -Opportunity: identification; recognition; creation; selection; exploitation -Growth: management of rapidly growing enterprises; control -Value creation: for owners; for customers; other stakeholders; society -Entrepreneurship and intrapreneurship -New venture creation -Management of technology and innovation -New product development and creativity -SME management -Entrepreneurial and small enterprise finance -Crowdsourcing and crowdfunding -Family business -Gender and diversity -Global entrepreneurship and internationalisation -Public policy, the economy, and the small enterprise -Business and organisational failure