Corporations and the financing of innovation: the corporate venturing experience. Economic Review – Federal Reserve Bank of Atlanta; Fourth Quarter 2002
Bibliographic record
Abstract
This paper examines the experience of corporate venturing activity in the United States. We present a history of corporate venture programs and the motivations for such programs. We then explore a detailed history of corporate venture investments over the past twenty years. We find that the majority of corporate venture investments go to investments in related technologies. These investments are made increasingly with experienced, independent venture capital groups. While corporate venture capital investments tend to be later stage investments done at higher valuations and greater capital contributions, the success rates of these investments are surprisingly high. Even after controlling for the later stage of investment, corporate investments have higher success rates than the investments of independent venture capital organizations. The results argue that corporate investments in emerging companies can play an important role in the development of new technologies. Harvard Business School and National Bureau of Economic Research. We thank VentureOne for making this project possible through generous access to their
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.006 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.004 | 0.004 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.002 | 0.001 |
| Insufficient payload (model declined to judge) | 0.004 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".