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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/8480

Title: Understanding the advantages of open innovation practices in corporate venturing in terms op real options
Van de Vrande, Vareska
Chesbrough, Henry
Issue Date: 2008
Citation: Creativity and Innovation Management, 17(4). p. 251-258
Abstract: Part of the advantages of using open innovation (compared to closed innovation) in corporate venturing can be explained by applying the real options approach. Open innovation in risk-laden activities such as corporate venturing has the following advantages: (i) benefits from early involvement in new technologies or business opportunities; (ii) delayed financial commitment; (iii) early exits reducing the downward losses; and (iv) delayed exit in case it spins off a venture. We furthermore argue that these benefits do not automatically materialize. Innovative firms have to learn new skills and routines to develop the full 'real option' potential of open innovation practices.
URI: http://hdl.handle.net/1942/8480
DOI: 10.1111/j.1467-8691.2008.00499.x
ISSN: 0963-1690
Category: A1
Type: Journal Contribution
Validation: vabb, 2010
Appears in Collections: Research publications

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