Abstract
Innovations play the key role in address sustainability issues such as tackling challenges of anthropogenic emissions in persuasion of net-zero targets. Joint effort of the ecosystem actors aimed to create value of the innovations may require their mutual adaptation of resources and activities, and involvement of societal and institutional actors that contribute to the innovation development and its economic potential. Thus, actors become involved in the innovation ecosystems that embrace their collaboration following customer-oriented goals, a focal innovation, its development, and commercialization. Carbon capture and utilization (CCU) innovations are developed in response to the net-zero targets to decarbonize industrial processes and environmental regulations change. These innovations allow to capture, store and transform carbon dioxide emission into gases or chemicals used in other the industrial processes that is resembling circular economy closing loop process. However, due to an emerging stage of CCU as a business process, related business models and value chains remain in development which makes it difficult to estimate economic value and needed investment for CCU. This empirical study explores how managerial interaction in innovation ecosystems can support novel business models and value chains development aimed at net-zero targets. This study contributes to management literature by exploring challenges and activities of managing innovation ecosystems in the context of Finnish emerging market of carbon capturing. Additionally, this research maps the CCU value chain and ecosystem and discusses how business models of carbon circulation can contribute to sustainability besides mining economic value.
Original language | English |
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Title of host publication | 9th International Conference on New Business Models (NBM2024) |
Publisher | Mondragon Unibertsitatea |
Number of pages | 6 |
DOIs | |
Publication status | Published - 2024 |
Publication type | D3 Professional conference proceedings |
Event | International Conference on New Business Models - Mondragon Unibertsitatea, San Sebastian, Spain Duration: 3 Jul 2024 → 5 Jul 2024 https://www.newbusinessmodels.org/tracks2024 |
Conference
Conference | International Conference on New Business Models |
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Abbreviated title | NBM2025 |
Country/Territory | Spain |
City | San Sebastian |
Period | 3/07/24 → 5/07/24 |
Internet address |
Keywords
- carbon capture
- sustainability
- Industrial ecosystem
- value chain
- business models