“…However, developing novel products is rarely possible unless a collaborative effort is made by companies with other firms and societal actors, such as citizens, non‐governmental organizations (NGOs), and governments (Jonker & Faber, 2019; Pedersen et al, 2021; Planko & Cramer, 2021). The importance of establishing shared value creation, inter‐organizational networks, and collaborative business models in the development and diffusion of new products in rapidly changing business environments has been highlighted by numerous studies, in particular by sustainability‐focused business model, value creation, and network management studies (e.g., Aarikka‐Stenroos et al, 2014; DiVito et al, 2021; Evans et al, 2017; Freudenreich et al, 2020; Hörisch et al, 2014; Jonker & Faber, 2019; Melander & Wallström, 2022; Möller & Svahn, 2009). In addition, open innovation approaches, based on the idea that collaboration and the sharing of knowledge among diverse stakeholders is advantageous for all actors involved (Chesbrough, 2003), have been found to support shared value creation and the promotion of sustainability (Camilleri et al, 2023, see also Del Rıo et al, 2015; Melander & Pazirandeh, 2019).…”