Corporate Venture Funds as a Way of Financing Innovative Activities in Company

In a modern, ever-changing world, Corporations are forced to continuously develop themselves in order to constantly combat the rapidly growing competition. Companies have had to develop new services and products to follow the evolution for a long time, but especially over the past decades, the need in innovation has become immense and innovation has increased its role as an important way for the development of corporations and their long-term economic growth. Large companies are paying more and more attention to new areas of activity and markets, and it becomes clear that the most successful corporations are those that are able to most effectively implement innovations. The main problem in the development of corporations is that they have no idea how to promote their innovative inventions and solutions, and as a result they tend to get stuck with existing products and technologies. Urbancová (2013) claims that the 21st century is based on knowledge, information and innovative economics. It is no longer enough to deal only with your own internal R&D. Consequently, corporations must move from internal activities to external R&D projects. Thanks to this over the past decades, corporate venture capital has increased its reputation as an innovative intermediary, especially among large companies such as Intel and Microsoft. Almost throughout the literature on innovation, it says that companies are forced to seek external sources of innovation in order to be able to continue to grow and remain competitive. Especially in knowledge-intensive industries, enterprises must innovate in order to maintain their competitiveness. This topic is almost daily raised in the news and various other media sources. Now there is a lot of discussion about the lack of creativity and entrepreneurial culture in big companies leading to their failure.