| dc.description.abstract | This thesis explores how Corporate Venture Capital (CVC) firms and high-growth
start-ups cooperate to attain mutual synergies. Specifically, how start-ups become
scale-ups, and corporations obtain competitive advantages through cooperation.
These synergies are gained through the sharing of heterogeneous, immobile
resources in the process of resource mobilization. I employ case evidence from
two CVCs as well as from three start-ups in rapid growth that have received
investments and shared resources with these CVCs. This thesis examines the
resource mobilization process through search, access, and transfer.
From this evidence, I derive five propositions regarding how this mobilization
process transpires and how these resources achieve mutual synergies for both
parties. Proposition 1: When start-ups and CVCs search for each other to become
strategic partners, they look for heterogeneous resources. Proposition 2:
In the process when CVCs and start-ups decide to enter strategic partnerships,
CVCs value founder-team quality, while start-ups value freedom from constraints.
Proposition 3a: Resources that are shared by both CVCs and start-ups in
strategic partnerships outside of projects create synergies for both parties.
Proposition 3b: A mutual strategic project benefiting both the start-up and the
CVC leads to a strategic advantage for the corporation and accelerated growth
for the start-up, when they have complementary resources to offer each other.
Proposition 3c: By creating an ecosystem where resources are strategically
shared the CVC creates synergies for both portfolio companies and the mother
company.
This study offers two novel contributions: First, it shows that the benefits of
sharing resources are mutual, enabling both synergies for growth for start-ups and
competitive advantages for corporations. Second, it shows how sharing resources,
cooperations and CVC-start-up ecosystems work to this benefit. | nb_NO |
