In the traditional approach to venture capital, an investment firm parcels out funds to a portfolio of start-ups, knowing that most will fail but that with luck, the returns from the few winners will make the exercise profitable. For more than 40 years, another model has also existed: corporate venture capital, in which a very large company invests in start-ups, often in adjacent industries. Corporate VCs have historically been motivated by strategic payoffs: insight into new products that could affect their competitive position--and perhaps the inside track on acquiring the start-up if its innovation pans out. But a study by MIT researchers shows a recent shift in goals, with corporate VCs increasingly concerned about financial returns. The researchers explored this mission drift through in-depth interviews with the leaders of 16 corporate VC units, learning that the units often aren't pursuing opportunities that could help them maximize their role as strategic investors. Firms need better ways to measure the nonfinancial value derived from investments in start-ups, the researchers say; and by voicing support for the corporate VC's role as a strategic investor, the CEO can reduce the emphasis on financial returns.

【書誌情報】

ページ数：3ページ

サイズ：A4

商品番号：HBSP-F1611A

発行日：2016/11/1

登録日：2016/11/8