Details
| Original language | English |
|---|---|
| Pages (from-to) | 813-834 |
| Number of pages | 22 |
| Journal | Technological Forecasting and Social Change |
| Volume | 73 |
| Issue number | 7 |
| Early online date | 27 Jun 2006 |
| Publication status | Published - Sept 2006 |
| Externally published | Yes |
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 subject areas
- Business, Management and Accounting(all)
- Business and International Management
- Psychology(all)
- Applied Psychology
- Business, Management and Accounting(all)
- Management of Technology and Innovation
Sustainable Development Goals
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In: Technological Forecasting and Social Change, Vol. 73, No. 7, 09.2006, p. 813-834.
Research output: Contribution to journal › Article › Research › 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 -