ifkad articles

The Venture Builder Models: A Comprehensive Framework for Venture Creation Processes

Leonardo Santoro, Gabriele Santoro

In the last decade there has been an emergence of a new players of venture creation named Startup Studios, also often referred to as Company Builders, Startup Factories, Venture Builders and with other names. Despite its general adoption among scholars and practitioners, there remains a notable ambiguity in the terminology used to describe this phenomenon. The difficulty in having a homogeneous and consistent terminology is a communication barrier for scholars and practitioners as well as an element of noise. The need to have an umbrella term is necessary because of the widespread use among practitioners of the term Startup Studio or similar terms (Company Builders, Startup Factory) while including realities that are different from each other. The term startup studios, indeed, indicates only one approach of new venture creation and does not include within it other models such as corporate venture builders (CVB). This paper proposes the use of the term “Venture Builder” as an umbrella term capable of encapsulating all aspects of this type of new venture creation. This paper aims also to identify and analyse the commonalities and differences among different venture builder models. In fact, the lack of clarity can preclude the understanding of some aspects of this phenomenon and lead scholars to have trouble identifying and researching this emerging field, failing to enable them to recognize the relationships among the factors that constitute the venture builder as a model of new venture creation. Through an illustrative multi-case study this research provides a framework of three models constructed from factors that are empirically proven in a new venture creation process. This comprehensive framework of Venture Builder models is built using the elements of the conceptual framework proposed by Vogel to describe the process of new venture creation (NVC). Our study reveals how from the perspective of new venture creation it is possible to synthesize venture building players in three different models: corporate venture builder, venture builder agency, startup studios.

IN: Proceedings IFKAD 2024 – Translating Knowledge into Innovation Dynamics
PP: 751-765