Corporate Venturing and Value Creation in Public Research Institutes

Based on a multiple case study approach, this study gathered data on ten startups and SMEs in the German medtech industry. The data was used to develop a model of the firms venturing processes and underlying challenges. It is shown that conservative contract research approaches do not have the same effect for this target audience. Because of this, collaborative interactions with PRIs were explored to understand how these challenges could be solved collaboratively. The findings show that collaborations offer a multitude of positive outcomes, such as product development improvements on the private firm side, or research focus inputs as well as research commercialization outcomes on the PRI side. Collaboration requirements and moderators also emerged from the data and are tied into a model. Furthermore, the implications for future research and for practical applications are discussed.