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Commercialization Process of Disruptive Innovations in Corporate Ventures…
Commercialization Process of Disruptive Innovations in Corporate Ventures and Spinoff Companies: A
Comparison
Introduction
- Corporate Venture: The exploration and exploitation technologies or product
- Companies need to introduce disruptive and incremental innovation to the market
- Disruptive innovation are challenging to commercialized by enterprises and new businesses.
The most challenging: The transition of an innovation project to their business units for scalling up project.
- Spinoff: The creation of a new company to commercialize the business potential of a technology or innovation
- The commercialization of innovation by establishing new enterprise
Theoretical Background
Corporate Venture (CV)
- The scholar outline four uncertainties Perspective which is technical, market-concern, organizational and resources-based.
- Technical includes Scientific knowledge based, technical feasibility, manufacturing process.
- Market-concerned: New customer value in existing competition
- Organizational : Caused by unsupportive top management or misfit among corporate business unit and innovation team
- Resource-based: All issues acquisition to resources for successful exploitation of distruptive innovation
- Technology readiness: Offers an assessment tool to convert technology invention into profitable business.
- Ambidexterity perspectives: The construct of separated units for exploration and commercialization.
- Championship perspective: Having the support of a champion.
- Corporate ventures transition phase
Three stages in the transition: Pre=transition, The-transition, Post-transition.
Spinoff (CSO)
- Two approaches: 1) Planned spinoff: Plan of parent organization. (2) Spontaneous spinoff: New businnes venture created unexpectedly
- Three strategic perspective: early adoption, adoption network configuration, mainstream adoption.
- Three commercialization phase: (1) Pre-Commercialization: Any activity aiming at transforming new technology to product or service.
(2) Commercialization: All transformation efforts
(3) Post-commercialization: Any attempt to make new product or service sustain market share
Empirical Result
Corporate Venture
Pre-transition Phase
- (1) Achievement of first sales and running of pilot projects.
(2) Early-relation with potential receiving business unit.
(3) Search for champions and project support network
Transition Phase
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- Transfer R&D team to receiving business unit.
Post-transition Phase
- Performance metric : KPI must establish
- Other auxiliary task to carry out
Spinoff:
- (1) Pre-commercialization, (2) On-commercialization phase
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Research Design
- CV case selection and data collection
- For the sample, data were collect through interviews with innovation unit managers and corporate innovation managers.
- Data analysis: By using, open coding, axial coding, and selective coding
- Spinoff case selection and data collection
- Data were obtains through interview : contact via email and telephone call
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