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  4. Open innovation in nascent ventures: Does openness influence the speed of reaching critical milestones?
 
Verlagslink DOI
10.1016/j.technovation.2023.102732

Open innovation in nascent ventures: Does openness influence the speed of reaching critical milestones?

Veröffentlichungsdatum
2023
Autoren
Toroslu, Adrian  
Herrmann, Andrea M.  
Chappin, Maryse  
Schemmann, Brita  
Castaldi, Carolina  
Zusammenfassung
Research on open innovation (OI) has demonstrated the benefits of openness for firm innovation processes, but studies have mostly offered cross-sectional insights on incumbent firms. This study offers a more dynamic perspective on the relevance of OI for nascent ventures. Combining entrepreneurship and OI theories, we argue that it is key for resource-scarce nascent ventures to achieve critical venture-creation milestones. While OI can help these ventures to leverage salient external partnerships, we argue that it affects their speed of reaching these milestones. We test our hypotheses on a longitudinal sample focusing on external collaboration practices of nascent ventures in the renewable energy or information and communications technology industries. Our results show that, while engaging in R&D collaborations slows down nascent ventures’ product development and sustainable profit generation activities, joining industry associations does not have a slow-down effect. Our results complement the OI literature by warning about the downsides of openness for nascent ventures, particularly during the venture creation phase, where speed is a high priority.
Schlagwörter
open innovation

; 

Nascent ventures

; 

Time to market

; 

Time to profitability

; 

R&D collaborations

; 

Resource scarcity
Verlag
Elsevier
Institution
Hochschule Bremen  
Fachbereich
Hochschule Bremen - Fakultät 1: Wirtschaftswissenschaften - School of International Business (SiB)  
Dokumenttyp
Artikel/Aufsatz
Zeitschrift/Sammelwerk
Technovation  
Heft
124
Startseite
102732
Sprache
Englisch

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