Publication:

How founders harness tensions in hybrid venture development

Although the simultaneous presence of multiple ambitions is inherent in hybrid venturing, pursuing social and/or environmental missions while securing commercial viability can generate ambivalence amongst stakeholders. In this study, we draw on the notion of ‘holism’ to show how venture founders both embrace tensioned ambitions and sustain hybridity during critical venture development phases. Based on six years of data on The People’s Supermarket in the UK, we identify three distinct practices––fantasising, bartering, and conjuring––used by founders to harness tensions productively, without compromising their venture’s multiple ambitions. These practices demonstrate founders’ ability to maintain a venture’s hybrid nature throughout the ideation, organisational, and scale-up phases, thereby shedding light on the application of ‘holism’ within the realm of hybrid venturing.