Corporate Entrepreneurship and Innovation in the Renewable Energy Field

Abstract

Abstract In the context of depleting natural resources, climatic changes and consequently worldwide interest to generate energy from renewable sources, energy and non-energy companies have diversified their portfolio by investing in renewable energy. This has developed a growing interest in finding out what supports the corporate entrepreneurial behavior in the renewable energy field. With the improvement of renewable energy technologies and changes of the financial support systems, the further development of the renewable energy business strongly relies on innovation, in terms of technology and business models. The present article aims at assessing the innovation characteristics of companies that have broadened their domain of activity by investing in renewable energy, as well as to identify which organizational support factors would influence these characteristics the most. The analysis is based on a study of 30 companies that have invested in renewable energy following a corporate entrepreneurship strategy. Results suggest that management support for corporate entrepreneurship and work autonomy are the organizational factors that would support innovation in these diversifying companies the most.