“…Scholars such as Mitchell and Zmud (1999), Kraaijenbrink et al (2010), U. Lichtenthaler and E. Lichtenthaler (2009) and Shin et al (2018) classified resources as tangible resources such as financial resources or facility resources, and intangible resources such as knowledge, technology, human resources and capabilities for internal/external innovation. In particular, the resources and capabilities for R&Ds such as 1) technology R&D in firms (Okamuro, 2005), 2) public research in universities (Santoro & Chakrabarti, 2002) and 3) user R&D participation (Heiskanen et al, 2007; Kim et al, 2017; Santoro & Chakrabarti, 2002; von Hippel, 2010) and finances such as 1) capital supporting in firm (Kortum & Lerner, 2000) and 2) finance to private firm or public research of government or university for smart technology-based services (Abebe & Myint, 2018; Criado & Gil-Garcia, 2019; Schartinger et al, 2002; Tripsas et al, 1995; Wallsten, 2000) are important in the SHOME industry. Furthermore, this is emphasised separately because human resources and capabilities are represented by people such as labour in firm and trained expert in university, but there are intangible resources that are embedded in them through education, experience and network (Altinay et al, 2008; Etzkowitz & Leydesdorff, 2000; Perkmann & Walsh, 2007; Stuart et al, 2007).…”