Sustainable Value Creation through Innovation Ecosystems in Knowledge-Based Industries

Abstract

This research looks into the ways innovation ecosystems enable the sustainable value creation in knowledge-based industries. It looks into the ecosystem within its structure, dynamics, and actors and the corresponding economic, social, and environmental impacts. The research employs mixed-methods—systematic literature review of the most recent academic publications and comparative case studies of successful innovation ecosystems in biotechnology and software development. The results show that to achieve sustainable value, collaborative relationships, knowledge transfer, and long-term focus are necessary. The study emphasizes the role of orchestrators and other policies needed to build these ecosystems towards innovation.