Les capital-risqueurs comme « transiteurs » de l'innovation dans la Silicon Valley

Radical innovation results from a successful transition of new knowlege created by activities of exploration to activities of exploitation (March, 1991). This article analyses the interorganizational coordination of radical innovation?s actors. Setting-up of start-up is understood as a transition phase of radical innovation between exploration and exploitation. The high-tech cluster of Silicon Valley is analysed as a place of interorganizational coordination of actors geographically located in the same region. During the transition phase, the entrepreneur is supported by ?transitors? of innovation, role that is held by venture capital firms. The rise in Silicon Valley of clean industries allows analyzing the factors of success of interorganizational coordination of radical innovation and the role of ?transitors? play by venture capital firms.