Combining qualitative survey and in-depth field research, we present a new typology of corporate venture capital (CVC) designs that highlights a hybrid CVC structural orientation to advance understanding of the process of integrating externally generated innovation with the company’s internal innovation efforts. Based on our field study of JetBlue Technology Ventures, the paper provides insights into the interlocking multi-level managerial activities that relate hybrid CVC initiatives to the corporation’s mainstream operations. These insights also serve to compare how the hybrid CVC design enables effective interaction with the company’s internal innovation process to create enduring corporate strategic value with that of the other CVC designs.
