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Abstract

News — How can innovative solutions to address societal grand challenges be cultivated in a pragmatic and impactful way? In this article, we propose the “lean impact start-up” framework, which integrates the principles of the lean start-up methodology with fresh perspectives from new stakeholder theory—and specifically, stakeholder governance. The lean impact start-up framework is characterized by its experimental and learning-oriented nature and consists of a three-step process: value search, value creation, and value distribution. For each step, we propose a key mechanism and chart pathways for future research. At its core, the lean impact start-up framework differs from other start-up frameworks by an active consideration of diverse primary stakeholders and an expanded focus encompassing both economic and noneconomic outcomes. This framework serves as a transformative bridge that helps to close the divide between scholarly research and tangible, real-world impact.