文章基本信息

标题：Corporate venture capital and financing innovation
本地全文：下载
作者：Jean-Sebastien Lantz ; Jean-Michel Sahut
期刊名称：Problems and Perspectives in Management
印刷版ISSN：1727-7051
电子版ISSN：1810-5467
出版年度：2010
卷号：8
期号：4
页码：38-44
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：Corporate venture capital (CVC) is a real driving force behind the development of technology-based innovation.It is an entrepreneurial strategy used by big corporations that go outside the company because they can no longer depend solely on creating innovations in-house.CVC enables them to reduce the risk of innovation whilst keeping some control over the target firm or a purchase option on the innovation once it has passed the early stage.This type of operation offers technology-based start-ups both an input of equity capital and technical and strategic expertise and experience.In spite of economic downturns,CVC continues to develop in the high-tech sectors which have been least affected;in particular in biotechnologies.The advantages which it brings to each stage of the project (launching,refinancing and exiting) compared to financing by traditional venture capital funds make its future development secure.
关键词：Corporate venture capital (CVC) is a real driving force behind the development of technology-based innovation.It is an entrepreneurial strategy used by big corporations that go outside the company because they can no longer depend solely on creating innovations in-house.CVC enables them to reduce the risk of innovation whilst keeping some control over the target firm or a purchase option on the innovation once it has passed the early stage.This type of operation offers technology-based start-ups both an input of equity capital and technical and strategic expertise and experience.In spite of economic downturns,CVC continues to develop in the high-tech sectors which have been least affected;in particular in biotechnologies.The advantages which it brings to each stage of the project (launching,refinancing and exiting) compared to financing by traditional venture capital funds make its future development secure.