Open Innovation, Value Creation and Value Capture: An Introduction

To be successful in open innovation, firms need to craft an effective strategy for both value creation and value capture. However, these two aspects are difficult to combine, and there are important tensions that deserve closer examination. The aim of this special section is to offer original perspectives on key conceptual and empirical research questions related to how open innovation can help organizations to create and capture value, the extent to which there might be a tension between value creation and value capture in open innovation strategies, and how this tension can be effectively dealt with.