Approach to the formation of an innovation portfolio in industrial ecosystems based on the life cycle concept

Abstract

The innovation ecosystem concept has been widely used as a framework to explain innovation activities within different industries. Despite the usefulness of this approach, the concept is under-theorized, especially with regard to the methodological issues. This article presents a new approach in assessing the effectiveness of innovation industrial ecosystems, allowing to take into account the peculiarities of the life cycle stages of individual innovative projects and an ecosystem as a whole. We illustrate our assumptions on the example of two industrial ecosystems’ projects assessments with appropriate explanations, which help from the academicians, researchers, and readers to receive a comprehensive understanding on how to form a knowledge-intensive ecosystem project portfolio and make managerial decisions on further actions of ecosystem actors regarding project development. The presented methodology has been tested on the example of projects implemented by research centers and laboratories of National University of Science and Technology (MISIS; Moscow, Russia). The propositions arising from this analysis provide information to help academics, policymakers, government, and individual enterprises with a more adequate understanding of the practical mechanisms and tools that help implement the ecosystem model for industrial development.