Evolving Corporate Entrepreneurship Strategy: Technology Incubation at Philips

10 Pages Posted: 15 Dec 2009

See all articles by Simon Ford

Simon Ford

University of Cambridge - Centre for Technology Management

Elizabeth W. Garnsey

University of Cambridge - Judge Business School

David Probert

University of Cambridge - Centre for Technology Management

Abstract

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.

Suggested Citation

Ford, Simon and Garnsey, Elizabeth W. and Probert, David, Evolving Corporate Entrepreneurship Strategy: Technology Incubation at Philips. R&D Management, Vol. 40, Issue 1, pp. 81-90, January 2010, Available at SSRN: https://ssrn.com/abstract=1523495 or http://dx.doi.org/10.1111/j.1467-9310.2009.00580.x

Simon Ford (Contact Author)

University of Cambridge - Centre for Technology Management ( email )

Alan Reece Building
17 Charles Babbage Road
Cambridge, CB3 0FS
United Kingdom
+44(0)1223 766776 (Phone)

HOME PAGE: http://www.ifm.eng.cam.ac.uk/people/sjf39/

Elizabeth W. Garnsey

University of Cambridge - Judge Business School ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom
+44 (0) 1223 338183 (Phone)

HOME PAGE: http://www.jims.cam.ac.uk/people/faculty/garnseye.html

David Probert

University of Cambridge - Centre for Technology Management ( email )

Engineering Department
Trumpington Street
Cambridge, CB2 1PZ
United Kingdom

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