Challenges of creating and capturing value in open eco-innovation: Evidence from the maritime industry in Denmark

Developing eco-innovations using open innovation comes with a distinct set of challenges as the dual goals of economic and environmental value creation produce tension that is not easily overcome in a multi-stakeholder network. These incongruent goals are inherent in an open eco-innovation network and potentially involve governmental agencies, regulators, and non-governmental organizations along with suppliers and other partners. Consequently, they add a layer of complexity to the creation and capture of value throughout the innovation network. Thus, in this study, we ask: What are the challenges in creating and capturing value in open eco-innovation networks? Based on an embedded case study of a network developing eco-innovation over a six-year period in the maritime industry in Denmark, this paper identifies challenges and links them to their impact on value creation and value capture. Our findings indicate that firms and partners are less innovative and more conservative in their approaches to innovation than has previously been observed in open innovation partnerships. This research contributes to the eco-innovation knowledge base by demonstrating how extracting value from open eco-innovation is complicated as value is created at the micro and meso levels of the network, yet, a major goal of value capture is at the environment and social macro level. Thus, our results indicate that firms are less willing to commit resources and knowledge to co-creation, thereby negatively impacting value capture for the entire network, the society and/or the environment. Using open innovation to address grand societal challenges requires understanding value creation and value capture within this micro-meso-macro systemic framework of competing goals. (C) 2019 Elsevier Ltd. All rights reserved.