From mismatch to synergy: how new ventures and family-owned firms navigate cooperation

What the paper says

Purpose We investigate benefits and determinants of cooperation between new ventures and family-owned firms. While cooperation with large corporations has been widely studied, little attention has been paid to the specific dynamics of asymmetric partnerships with family-owned firms. Their fundamental differences in ownership, decision-making and strategic priorities shape cooperation dynamics, making it unlikely that existing insights can be directly applied. Design/methodology/approach A qualitative, exploratory research design was applied, based on ten expert interviews with founders of new ventures, senior managers of family-owned firms and a network catalyst. Data were collected using a semi-structured interview guide and analyzed using inductive content analysis. Findings Cooperation can generate diverse benefits, including improved resource access, corporate culture, innovation, product development, and long-term competitiveness. Success factors typically result from partner characteristics, mutual fit, and shared values, while inhibiting factors stem from structural differences and misaligned expectations. A recurring cooperation paradox emerges, as family-owned firms tend to prefer market-ready solutions, whereas new ventures depend on early-stage cooperation to reach this maturity. Practical implications The analysis highlights the need for targeted support by regional intermediaries to facilitate partner matching, manage expectations and professionalize cooperation. Firms should establish clear responsibilities and invest in mutual learning to overcome structural barriers. Originality/value We uncover how the specific characteristics of family-owned firms give rise to distinct cooperation dynamics, offering a context-sensitive refinement of existing models on asymmetric partnerships beyond corporate settings.