Entrepreneurship

Entrepreneurship Full Paper Session (B)

Motives, enablers, barriers and outcomes of corporate venture capital Investments: A systematic literature review

AM

Arpan Mondal Indian Institute of Management Lucknow

SS

Sabyasachi Sinha IIM, Lucknow

KA

Kshitij Awasthi Indian Institute of Management Lucknow

DS

Dhirendra Shukla Indian Institute of Management Lucknow

Abstract

Corporate firms heavily invest in corporate venture capital (CVC) to pursue corporate entrepreneurship, which nurtures innovation and harnesses novel technology. However, studies lack a detailed framework integrating corporate motives and enabling and impeding elements to CVC that contribute to various outcomes. Considering this interest, we conducted a systematic literature review using the Gioia method, encompassing 171 peer-reviewed publications from 2003 to 2024, highlighting the various CVC financial, strategic, ecosystem enriching, and investigation motives. This study posits that the motivations behind CVC investments would foster enhanced collaborative innovations when enterprises intentionally seek CVC to use emerging technologies leading to financial and strategic outcomes. While certain internal and external enablers were specific in helping in CVC investments, some individual, group, firm, and environmental level challenges impede the process. Finally, we propose a conceptual framework that supports the potential avenues for conducting future studies.

Primary Track

Entrepreneurship

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Published in BAM2025 Conference

Publisher X-CD Journal

Date of Conference September 1–5, 2025