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Evolving corporate entrepreneurship strategy: technology incubation at Philips

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Established firms tend to pursue incremental innovation by modifying and refining their existing products and processes rather than developing radical innovations. In the face of resistance to change and incumbent inertia, which prevent the generation of novelty, established firms have turned towards corporate entrepreneurship as a means of exploiting knowledge accumulated within its own boundaries and exploring external markets. This paper focuses on one mode of corporate entrepreneurship, corporate incubation, informed by a study of a Technology Incubator at Philips. An account of the history of the incubator traces its progress from its inception in 2002–2006 when further incubators were formed, building on this experience and focusing on lifestyle and healthcare technologies. We identify ways in which the Philips incubator represents an alternative selection environment that effectively simulated the venture capitalist model of entrepreneurial innovation.
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Document Type: Research Article

Affiliations: Centre for Technology Management, University of Cambridge, 16 Mill Lane, Cambridge CB2 1RX, UK. ; [email protected]; [email protected], Email: [email protected]

Publication date: 01 January 2010

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