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A definition, revie...
A definition, review, and extension of global ecosystems theory: Trends, architecture and orchestration of global VCs and mechanisms behind unicorns
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- Burström, Thommie (author)
- Department of Management and Organisation, Hanken School of Economics
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- Lahti, Tom (author)
- Department of Management and Organisation, Hanken School of Economics
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- Parida, Vinit, 1983- (author)
- Luleå tekniska universitet,Industriell ekonomi,Department of Management, University of Vaasa, Finland
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- Wartiovaara, Markus (author)
- Department of Management and Organisation, Hanken School of Economics
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- Wincent, Joakim (author)
- Department of Management and Organisation, Hanken School of Economics; Global Center for Entrepreneurship and Innovation, University of St. Gallen
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(creator_code:org_t)
- Elsevier Inc. 2023
- 2023
- English.
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In: Journal of Business Research. - : Elsevier Inc.. - 0148-2963 .- 1873-7978. ; 157
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https://ltu.diva-por... (primary) (Raw object)
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https://urn.kb.se/re...
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Abstract
Subject headings
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- The prior Venture Capital research (VC) has examined the micro processes of syndication and alliance formation. However, a macro and more systemic view is lacking, where past research has neglected the global VC-ecosystem. Using a qualitative method and an abductive approach, we combine and integrate two strands of research, on VC and ecosystems, to shed light on the crucial dynamics in the VC industry. We provide a VC-ecosystem definition and portray the ecosystem architecture in a segmentation matrix of investor types and roles, including Active Hubs and Complementors. Moreover, our findings identify and explain central Hub orchestration mechanisms: enablers, governance, partner management, co-specialization, and nurturing. The study concludes with a discussion on the theoretical and managerial implications, and suggestions for future research on a global ecosystem, which operates at a higher level than the traditional firm-level ecosystems on which the previous research generally focuses.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Keyword
- Ecosystem
- Hubs
- New ventures
- Orchestration
- Scaleup
- Startups
- Venture capital
- Entreprenörskap och innovation
- Entrepreneurship and Innovation
Publication and Content Type
- ref (subject category)
- art (subject category)
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