Details
| Originalsprache | Englisch |
|---|---|
| Seiten (von - bis) | 813-834 |
| Seitenumfang | 22 |
| Fachzeitschrift | Technological Forecasting and Social Change |
| Jahrgang | 73 |
| Ausgabenummer | 7 |
| Frühes Online-Datum | 27 Juni 2006 |
| Publikationsstatus | Veröffentlicht - Sept. 2006 |
| Extern publiziert | Ja |
Abstract
Established corporations are often at a disadvantage vis à vis technology-based entrepreneurial firms when it comes to generating and adapting to radical technological and business-model innovation. Consequently, industrial corporations increasingly wanted to participate in the financial or strategic success of start-ups. The tool of choice for many corporations was Corporate Venture Capital (CVC). CVC had already seen two waves of popularity in the USA when it was introduced in Germany in the early 1990s. This development is often assumed to have come to a halt in 2001, when so-called 'New Economy' spiraled into decline. This paper analyzes central attributes of strategy, investment and organization of the CVC units active in Germany in 2000 and 2003. We find evidence for a continuation of strong CVC activity in Germany. We differentiate between CVC units that were a) active at both points in time, i.e. 'survivors' b) those that have closed down since 2000, i.e. 'losers' and c) those that were founded after 2000, 'new entrants'. The comparison of the characteristics allows us to make inferences for the use of CVC.
ASJC Scopus Sachgebiete
- Betriebswirtschaft, Management und Rechnungswesen (insg.)
- Betriebswirtschaft und Internationales Management
- Psychologie (insg.)
- Angewandte Psychologie
- Betriebswirtschaft, Management und Rechnungswesen (insg.)
- Technologie- und Innovationsmanagement
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in: Technological Forecasting and Social Change, Jahrgang 73, Nr. 7, 09.2006, S. 813-834.
Publikation: Beitrag in Fachzeitschrift › Artikel › Forschung › Peer-Review
}
TY - JOUR
T1 - Corporate venture capital in Germany
T2 - A comparative analysis of 2000 and 2003
AU - Reichardt, Bent
AU - Weber, Christiana
PY - 2006/9
Y1 - 2006/9
N2 - Established corporations are often at a disadvantage vis à vis technology-based entrepreneurial firms when it comes to generating and adapting to radical technological and business-model innovation. Consequently, industrial corporations increasingly wanted to participate in the financial or strategic success of start-ups. The tool of choice for many corporations was Corporate Venture Capital (CVC). CVC had already seen two waves of popularity in the USA when it was introduced in Germany in the early 1990s. This development is often assumed to have come to a halt in 2001, when so-called 'New Economy' spiraled into decline. This paper analyzes central attributes of strategy, investment and organization of the CVC units active in Germany in 2000 and 2003. We find evidence for a continuation of strong CVC activity in Germany. We differentiate between CVC units that were a) active at both points in time, i.e. 'survivors' b) those that have closed down since 2000, i.e. 'losers' and c) those that were founded after 2000, 'new entrants'. The comparison of the characteristics allows us to make inferences for the use of CVC.
AB - Established corporations are often at a disadvantage vis à vis technology-based entrepreneurial firms when it comes to generating and adapting to radical technological and business-model innovation. Consequently, industrial corporations increasingly wanted to participate in the financial or strategic success of start-ups. The tool of choice for many corporations was Corporate Venture Capital (CVC). CVC had already seen two waves of popularity in the USA when it was introduced in Germany in the early 1990s. This development is often assumed to have come to a halt in 2001, when so-called 'New Economy' spiraled into decline. This paper analyzes central attributes of strategy, investment and organization of the CVC units active in Germany in 2000 and 2003. We find evidence for a continuation of strong CVC activity in Germany. We differentiate between CVC units that were a) active at both points in time, i.e. 'survivors' b) those that have closed down since 2000, i.e. 'losers' and c) those that were founded after 2000, 'new entrants'. The comparison of the characteristics allows us to make inferences for the use of CVC.
UR - http://www.scopus.com/inward/record.url?scp=33746382541&partnerID=8YFLogxK
U2 - 10.1016/j.techfore.2005.12.008
DO - 10.1016/j.techfore.2005.12.008
M3 - Article
AN - SCOPUS:33746382541
VL - 73
SP - 813
EP - 834
JO - Technological Forecasting and Social Change
JF - Technological Forecasting and Social Change
SN - 0040-1625
IS - 7
ER -