Strategic technology sourcing in corporate ventures

Abstract

Abstract Purpose – The purpose of this paper is to examine the strategic technology outsourcing of corporate ventures from an integrated perspective. Design/methodology/approach – The proposed model argues that technology sourcing modes are jointly determined by the technological regime, industry‐specific factors and resource‐based view (RBV), as well as firm‐specific factors. Four Taiwanese top publicly traded pharmaceutical companies dedicated to biotechnology are studied. Findings – This paper demonstrates that firms most likely to outsource technology are characterized by the following technological regime factors: reliant on external sources of innovation, tight IPR protection, path independent from the existing technology trajectory, less complexity, easy to codify and having resource‐based (RB) factors: irrelevant to the core competence, weak complementary assets, and autonomous innovation. Practical implications – Current approaches generally focus on technology sourcing with a single strategic theory. New venture managers can apply the list of four industry‐specific factors and three firm‐specific factors of sourcing technologies to determine the appropriate sourcing modes (internal vs internal). Originality/value – There has been little research on how technology sourcing can be done from a holistic, strategic angle. This paper demonstrates that technology sourcing strategy could be properly done by integrating multi‐levels, industry, firm and governance factors in a coordinated plan.

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