Creating Shared Value in the Hybrid Venture Arena: A Business Model Innovation Perspective

In this paper we develop a strategy process model for hybrid ventures centered on business model innovation for shared value creation. We then validate the framework with an empirical focus on L3Cs, a new breed of hybrid ventures that occupy the middle ground between nonprofits and for-profits. With this research we contribute to business model innovation research, we extend established theoretical perspectives to the social entrepreneurship domain, and contribute to the understanding and diffusion of best practices when the strategic intent is the simultaneous creation of public and private wealth.