Understanding the Advantages of Open Innovation Practices in Corporate Venturing in Terms of Real Options

Wim Vanhaverbeke, Vareska van de Vrande, Henry Chesbrough · 2008 · Creativity and Innovation Management

Summary. Open innovation in corporate venturing offers financial and strategic advantages over closed innovation approaches. Companies gain early exposure to emerging technologies, can delay major financial commitments, exit unprofitable ventures quickly to limit losses, and extend promising ventures longer. However, firms must actively develop new skills and organizational routines to fully realize these real options benefits.

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Vanhaverbeke, W., Vrande, V. V. D., & Chesbrough, H.. (2008). Understanding the Advantages of Open Innovation Practices in Corporate Venturing in Terms of Real Options. Creativity and Innovation Management. https://doi.org/10.1111/j.1467-8691.2008.00499.x

@article{vanhaverbeke-2008-understanding-advantages-open-innovation-practices,
  title   = {Understanding the Advantages of Open Innovation Practices in Corporate Venturing in Terms of Real Options},
  author  = {Wim Vanhaverbeke and Vareska van de Vrande and Henry Chesbrough},
  journal = {Creativity and Innovation Management},
  year    = {2008},
  doi     = {10.1111/j.1467-8691.2008.00499.x},
  url     = {https://doi.org/10.1111/j.1467-8691.2008.00499.x}
}

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Details

DOI: 10.1111/j.1467-8691.2008.00499.x
Countries: Switzerland, United States
Regions: Europe, North America
Categories: innovation-theory, entrepreneurship, general-innovation
Added: 2026-04-28