| Summary: | Distinct from startup supports such as accelerators, incubators, and venture capitalists. Startup studios (studios) represent a form of organisational co-founder to the startups they create and support. Studios take a portfolio approach to ideating, creating, and growing high-growth startups, employing a high level of systemisation. As studio numbers accelerate, their prominence and legitimacy are rising in entrepreneurial ecosystems. Furthermore, industry data demonstrates substantial performance potential. However, studios have lacked academic attention, and as entrepreneurs, corporates, universities, and governments increasingly look to the model to explore and exploit opportunities there is a need for greater clarity as to what studios are and how they create and capture value.
This study firstly maps out this nascent field through complimentary practitioner and academic reviews. The former provides in-depth description of the startup studio system while the latter provides linkages to existing theories that are highly relevant to this system. To guide case study analysis a conceptual model was generated from the reviews, representing the studio as a nested Input > Process >Output system.
Empirical data comparing the business models of five different startup studios was collected through multiple sources and where possible secondary data enriches this data. Analysis of the data provides insights that further extend the system characterisation of the startup studio. Revealing three distinct levels of ambidexterity, at the inter-studio level, the studio-startup level, and the ecosystem level. Demonstrating the studio’s role in ambidextrously orchestrating resources to create and capture value
An important insight gleaned is that some studios are implemented as part of a wider entrepreneurial ecosystem platform. It appears this design is intended to capture greater value through synergies.
This study paves the way for further academic research while also providing a framework for practitioners.
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