Ingredients of Successful Emerging Business Ecosystems: Case of Industrial IoT Adoption

An emerging business ecosystem presents a future new value creation opportunity for firms that choose to collaborate effectively in a timely manner. This paper combines innovation diffusion, systems transition, innovation systems and business ecosystem literature to identify ingredients in ecosystem dependent firms. These insights are applied to the case of Industrial Internet of Things (IoT) adoption from an ecosystem actors' perspective. Two contrasting engagement models are presented based on this guidance that possess a higher likelihood of success.