Non-financial value creation in corporate venture capital: a systematic review of empirical studies

Bugl, Benjamin M.; Kanbach, Dominik K.

doi:10.1504/ijev.2022.122643

Cited by 2 publications

(1 citation statement)

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“…Examples for this type of venturing encompass private equity investments and venture funds. Activities that mix both strategic and financial objectives include corporate venture capital (Bugl and Kanbach, 2022), accelerators (Veit et al, 2021), as well as mergers and acquisitions (Gutmann, 2019). Incumbents often pursue several of these activities simultaneously in their effort to explore and exploit opportunities through start-up collaborations (Enkel and Sagmeister, 2020;Gutmann, 2019;.…”

Section: Corporate Venturing As a Means For Strategic Renewalmentioning

confidence: 99%

Start-up selection criteria for corporate venturing: what matters for incumbents

Brandt,

Laibach,

Kamrath

et al. 2023

IJEV

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Incumbent companies face increasing pressures to become more sustainable, and thus, to strategically renew themselves. To proactively adjust to the changing environment, incumbents can engage in collaborations with start-ups by means of corporate venturing. As one of the first steps of the venturing process, a better understanding of the selection of start-ups for corporate venturing activities is needed to further systemise and align the activities. Through a systematic literature review, this study provides an overview of existing start-up selection criteria, which are validated by means of expert interviews with incumbents. We find that for incumbents, criteria related to the team, the product and technology, the market as well as to financial and strategic characteristics are pivotal whereas criteria related to transitions seem to play a subordinated role. Our findings highlight the necessity of a coherent and aligned venturing strategy to foster the successful renewal of incumbents in eras of transition.

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