Value creation and capture in innovation ecosystems
DOI:
https://doi.org/10.5585/iji.v10i3.21470Keywords:
Regional innovation, Value appropriation, Innovation ecosystem coordination.Abstract
Objective of the study: The objective of this theoretical essay is to propose an integrative framework for analyzing value creation and capture in innovation ecosystems.
Methodology: This is a theoretical essay based on a narrative review of the concepts of innovation ecosystems, value creation, and value capture.
Originality/Relevance: The article theoretically contributes to the analysis of value creation and capture by comparing and contrasting the platform and territorial approaches in innovation ecosystems.
Main results: In analyzing the creation and capture of value in innovation ecosystems, the theoretical similarities and differences between the territorial and platform approaches must be considered. Thus, strategies for creating and capturing value must be designed procedurally, according to each stage of the innovation ecosystem's life cycle. Furthermore, value creation and capture strategies must be aligned, and actors must develop individual and collective mechanisms to create and capture the value in the innovation ecosystem, which can be viewed as a multidimensional value (economic, social, cultural or environmental).
Theoretical/methodological contributions: The article provides a conceptual framework as well as six theoretical propositions for analyzing value creation and capture in innovation ecosystems.
Social/management contributions: The article assists companies, governments, universities, and non-governmental organization managers in considering both the creation and capture of value as drivers for action in innovation ecosystems.
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