“…In order to achieve this, an organization must have: i) indepth understanding of innovation dynamics, ii) a wellcrafted innovation strategy, and iii) well-designed processes for innovation, with iv) the innovation ecosystem and external collaborators that will enable it to bring in complementary assets to the innovation process (see e.g., Adner, 2006;Teece, 2007;Pellikka, 2014). In order to co-evolve capabilities, to incorporate a new round of innovations, and to satisfy changing customer needs, many companies have started to seek new business opportunities with the other key players.…”