PurposeThe aim of this paper is to present a macro view of the evolution of innovation for value creation, from the closed to collaborative, open, and now co‐innovation. It reviews several mega trends that have dramatically changed the dynamic nature of the global market place and also several new forces that have made innovation imperative for organizational value creation.Design/methodology/approachThe paper provides a conceptual overview of co‐innovation through some of its basic elements such as convergence revolution, collaboration, and co‐creation with stakeholders.FindingsCo‐innovation is a new innovation paradigm where new ideas and approaches from various internal and external sources are integrated in a platform to generate new organizational and shared values. The core of co‐innovation includes engagement, co‐creation, and compelling experience for value creation. Thus, the practices of co‐innovative organizations are difficult to imitate by competition.Practical implicationsInnovation is imperative for organizational survival in today's turbulent global market. This conceptual paper presents many real‐world examples of co‐innovative firms' strategies that can provide new insights for follower organizations.Social implicationsInnovation is a universal strategy for every organization, be it a firm, non‐profit organization, or even a government agency. The new innovation approaches suggested in the paper can contribute to social reforms such as creating shared value for all stakeholders.Originality/valueThis is an original paper that presents a broad‐stroke direction and vision for new organizational strategies for innovation.

In the same way businesses use big data to pursue profits, governments use it to promote the public good.

The goal of this paper is to advance the understanding of emerging developments in business model design within the field of entrepreneurship. It is widely known that during the start-up process, entrepreneurs need to set up the boundaries of the business and define the product/service to offer. This is a very complex task, especially for new technology-based companies which usually require large investments and have a limited time span (avoiding product obsolescence) to turn the idea into a full-time venture. Although business model design within the entrepreneurship field is a recent topic, it is gaining a growing attention in the literature. The usefulness and predictable power of business models are expected to help entrepreneurs make more informed decisions, thus increasing the chances of success. This article first tackles the specific problems faced by new technology-based firms, linking their needs with the advantages of having a flexible and well-designed business model. Second, different innovative practices aimed at improving business model design are discussed. The paper ends with some recommendations, stressing the need for future empirical work.Postprint (published version

Highlights Convergence innovation (CI) as a sustainable core competence. CI: its concept, autonomous ecosystem, and life cycle. CI for managing the COVID-19 pandemic. CI for charting the path to the post pandemic future. Relationships among sustainable innovation approaches.

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