Technology businesses opt for joint ventures

Joint ventures involve the sharing of risks and rewards in an enterprise or project co-owned and operated for mutual benefit by two or more business partners. One third (33%) of technology businesses are current joint venture participants, involved in an average of 3.3 over the past three years.

And an additional 9% are planning an average of 1.6 new joint ventures over the next 12 months.

Technology businesses participating in or planning ventures are committing a composite 9.34% of their business assets to these efforts – including people and materials. And this allocation is expected to nearly double to 17.34% over the next few years. For large firms, it is planned to grow to 13.49% of corporate assets, up by 69%; and for smaller firms, it is expected to surge to 22.01%, an increase of 99%.

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