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AbstractThis paper uses the notion of institutional logics to advance our understanding of institutional change in the ICT start-up eco-system in Japan.  We chose to study ICT start-ups because the rates of entry, growth, and exit are faster in this sector than in others, making it easier to observe institutional change.  Our study, based on data from interviews, closed master classes and document analysis, is presented in three steps.  First, we describe the two logics that coexist in the ICT start-up eco-system, namely Corporate Logic and Venture Logic, and practices under each logic in three arenas, namely the capital market, the labor market, and social networks.  Second, we identify several factors that enabled the emergence of Venture Logic during the period since the mid-1990s.  Third, looking into the future, we discuss the reasons why we predict that the two logics are likely to co-exist in this field, resulting in organizational heterogeneity.Authors: Masahiro Kotosaka (Keio University, Associate Fellow of Fondation France-Japon de l'EHESS) Mari Sako (Saïd Business School, University ofOxford)Download the full paper