CUED Publications database

External corporate venture capital investment: Towards a framework for capturing and measuring strategic value

Napp, JJ and Minshall, T and Probert, D (2009) External corporate venture capital investment: Towards a framework for capturing and measuring strategic value. PICMET: Portland International Center for Management of Engineering and Technology, Proceedings. pp. 1831-1842.

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Abstract

This paper presents the initial results of on-going research in the field of external Corporate Venture Capital (CVC) investments, i.e. equity investments of large corporations in entrepreneurial ventures which originated outside the corporation. The research is motivated by the fact that external CVC plays an increasingly important role within the strategy of corporations. Driven by a general trend towards a more open approach to innovation, companies see particular value in external corporate venturing as a tool to gain, for example, access to complementary technologies and a general window on technology developments. The review of literature in the field of external corporate venturing clearly reveals that theoretical gaps exist in understanding mechanisms for capturing value and measurements of this value. To help close these gaps, the research addresses the underlying question "How do corporations and start-ups capture and measure strategic value through external CVC investments" by using embedded, multiple case studies. Following an initial set of case studies, steps towards the development of a framework for capturing and measuring strategic value from CVC investments are outlined within this paper and the resulting preliminary framework is presented. The paper closes with an outlook on ongoing and future research steps. © 2009 PICMET.

Item Type: Article
Subjects: UNSPECIFIED
Divisions: Div E > Strategy and Policy
Depositing User: Cron Job
Date Deposited: 07 Mar 2014 12:07
Last Modified: 28 Nov 2014 19:06
DOI: 10.1109/PICMET.2009.5261953