Value Co-creation Mechanisms in Crowdsourcing Innovation

As a new business model, crowdsourcing innovation is widely used for enterprises to complete innovation tasks by the external crowds. To achieve the multi-win goal, the enterprises, the external crowds and crowdsourcing platform make an alliance and co-create value. Based on the third-party platform crowdsourcing innovation model, this paper proposes that the essence of crowdsourcing innovation is the value co-creation of multi-agent participation. Based on grounded theory, this paper constructs the theoretical model of the realization mechanism of multi-agent participation value co-creation in crowdsourcing innovation from the three parties’ perspective. This research finds that the influencing factors of value co-creation include six factors: task attributes incentive mechanisms, trust mechanisms, platform supports, participation motivation and diversities. The process of value co-creation includes resource integration and interaction. The results of value co-creation include three elements: innovation value, knowledge value, and relationship value.