CONCLUDING REMARKS
Internal corporate venturing has long been an important phenomenon. The role of intrapreneurship is significant in a time of heated competition and increasing need forinnovation asitistoday. To create sustainable competitive advantage and persistent superior performance, intrapreneurship is becoming a strategic thrust in many firms. Two reasons accentuate the almost indispensable value of intrapreneurship. First, more than ever, innovations, large scale and complex ones in particular, require a great number of diverse resources and skills as well as sophisticated co-ordination to pull through, which means that they are out of the reach of the more disparate garage-based venture creating entrepreneurs. Established firms have a unique advantage in implementing such innovations. Second, in the past, the dream of the small startups was to be acquired by a company like Microsoft, IBM and Motorola. Later on, from Yahoo and Google to Facebook and Twitter, entrepreneurs no longer need to attract the attention and patronage of corporate giants to realize their dreams. They have at their service a host of angel investors, venture capitalists and eventually the stock markets eager to ride the early success of entrepreneurial. Corporate giants like Microsoft, which rely heavily on purchasing technology from others and then making them scalable in the market, find it more and more diffi- cult to buy good stuff and to deal with talents from the outside. Fostering the creative spirit of intrapreneurship provides the firm an added advantage of identifying lucrative opportunities outside the firm. Quite often, firms complement their internal venturing with external venturing by strategically investing in start-ups that are eventually acquired and integrated within the firm’s strategic business units. As such, intrapreneurship seems ever more important and pressing as a new source for growth and profits.
