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| Author: | Ernst, H. Witt, P. Brachtendorf, G. |
| Title: | Corporate venture capital as a strategy for external innovation: an exploratory empirical study |
| Journal: | R & D Management
2005 : JUN, VOL. 35:3, p. 233-242 |
| Index terms: | innovation venture capital Germany |
| Language: | eng |
| Abstract: | Large corporations predominantly pursue strategic objectives, especially the realisation of external innovations by creating corporate venture capital (CVC) units. Theoretical and preliminary empirical results on corporate venturing suggest how to manage CVC in order to achieve strategic objectives. This study analyzes for a sample of 21 corporate venture units in Germany, if the respective CVC programmes pursue the strategic objective to leverage external innovation and if these programmes are managed accordingly. It is found that the majority of German corporate venture programmes follow mixed objectives and are not organised and managed as suggested in the literature. |
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