Open innovation in digital transformation

This chapter delivers insights on how open innovation platforms can achieve sustained growth by leveraging on the synergy arising from the cyclical interplay between value co-creation and co-realization processes. Beginning with an analysis of the origins of open innovation platforms, it offers a historical overview of their evolution by characterizing the evolving demands they address, which range from accelerating innovation processes to revolutionizing access to opportunities for a broader audience. Particularly, the chapter embraces the concept of a virtuous growth cycle, which is propelled by digital co-creation and co-realization, to illustrate the long-term viability of open innovation platforms. An in-depth review of the resource configurations and engagement paradigms that underpin the endurance of these platforms is further presented. The chapter concludes by identifying potential directions for future research and development in the domain of open innovation platforms.