Key Elements for Incubating Radical Innovations Successfully

Chintan M. Shah, Marc A. Zegveld, Leo Roodhart and J. Roland Ortt
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Chintan M. Shah: Department of Technology, Policy and Management (TPM), Delft University of Technology (TUD), Jaffalaan 5, 2628 BX Delft, The Netherlands and Product Development Engineer at Bluewater Energy Services BV, The Netherlands
Marc A. Zegveld: Department of TPM, TUD, The Netherlands
Leo Roodhart: Group GameChanger, Shell International, The Netherlands
J. Roland Ortt: Department of TPM, TUD, The Netherlands

Chapter 21 in Management of Technology Innovation and Value Creation:Selected Papers from the 16th International Conference on Management of Technology, 2008, pp 341-357 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractCorporate venturing is a widely accepted mechanism for incubating and developing radical innovations (RI) within large established firms. However, the results remain mixed. We present three elements for an effective corporate venturing (CV) based on a review of the academic literature, a thorough analysis of the successful venture capabilities of Shell, Nokia and IBM, and a study of some venturing initiatives that have been terminated. These three key elements are: carrying out a thorough necessity analysis, achieving clarity of objectives and creating the right ambiance for CV to thrive. We found that the likelihood of a CV initiative to be successful, and to survive, increase if companies are able to apply these three elements. Weakness in, or a lack of, one of these key elements will seriously affect the effectiveness of venturing in the long term.

Keywords: International Trade/Business; Econometrics; Accounting Regulations; R&D Management; Environmental Engineering; Technology Transfer; Technology Strategy (search for similar items in EconPapers)
Date: 2008
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