A conceptual framework of lean startup enabled internal corporate venture

Abstract

It has been perceived that innovation has been dominated by startups and new small companies whereas large companies struggle with balancing the challenges of operational excellence and product innovativeness. Internal corporate venturing has been promoted as one way to foster radical innovation in corporation. Lean startup suggests that internal corporate venturing can be managed through engineering science, which can be taught. However, the importance of the learning gained by small innovative and entrepreneurial teams has yet to be fully conveyed to the whole organisations. To investigate this complex phenomenon, a conceptual framework combining internal corporate venture and Lean startup has been developed based on the literature review. The framework will serve as a theoretical lens to collect and analyse empirical evidence through a multiple case study approach. It enables a better understanding of the potential benefits and challenges of practising Lean startup in large companies.