Corporate venture capital in Germany

A comparative analysis of 2000 and 2003

verfasst von

Bent Reichardt, Christiana Weber

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.

Externe Organisation(en)

Universität St. Gallen (HSG)
Wissenschaftszentrum Berlin für Sozialforschung gGmbH (WZB)

Typ

Artikel

Journal

Technological Forecasting and Social Change

Band

73

Seiten

813-834

Anzahl der Seiten

22

ISSN

0040-1625

Publikationsdatum

09.2006

Publikationsstatus

Veröffentlicht

Peer-reviewed

Ja

ASJC Scopus Sachgebiete

Betriebswirtschaft und Internationales Management, Angewandte Psychologie, Technologie- und Innovationsmanagement

Ziele für nachhaltige Entwicklung

SDG 9 – Industrie, Innovation und Infrastruktur

Elektronische Version(en)

https://doi.org/10.1016/j.techfore.2005.12.008 (Zugang: Geschlossen)