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| Author: | Chesbrough, H. Socolof, S. |
| Title: | Sustaining Venture Creation from Industrial Laboratories |
| Journal: | Research Technology Management
2003 : JUL-AUG, VOL. 46:4, p. 16-19 |
| Index terms: | VENTURE CAPITAL CORPORATE RESTRUCTURING EQUITY CAPITAL |
| Language: | eng |
| Abstract: | Lucent's New Ventures Group launched 35 ventures out of Bell Laboratories technologies. Notwithstanding this success, NVG has been forced to change its funding approach. It has now evolved into a partnership with private equity capital suppliers called New Venture Partners. This partnership addresses some structural limits upon a public corporation's ability to support internal venture creation over the business cycle, and offers a new model for sustaining corporate innovation. Teaming with private equity capital suppliers to sustain the creation of these ventures in challenging times, as well as in good times, may serve as an alternative mechanism to deal with venture creation and corporate innovation problems. |
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