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Categorizing the market focus of larger samples of companies can be a tedious and time-consuming process for both researchers and business analysts interested in developing insights about emerging business sectors. The objective of this article is to suggest a text analytics approach to categorizing the application areas of companies operating in the digital health sector based on the information provided on their websites. More specifically, we apply topic modeling on a collection of text documents, including information collected from the websites of a sample of 100 innovative digital health companies. The topic model helps in grouping the companies offering similar types of market offers. It enables identifying the companies that are most highly associated with each of the topics. In addition, it allows identifying some of the emerging themes that are discussed online by the companies, as well as their specific market offers. The results will be of interest to inspiring technology entrepreneurs, organizations supporting new ventures, and business accelerators interested to enhance their services to new venture clients. The development, operationalization, and automation of the company categorization process based on publicly available information is a methodological contribution that opens the opportunity for future applications in research and business practice.

Many industries nowadays are facing drastic changes that enable and require new forms of interdependencies that facilitate complex ecosystems of interconnected actors. This paper investigates such a transformation facing the mobility sector, as user-centric bundles of mobility services are being introduced and compiled, by referring to the Mobility-as-a-Service (MaaS) concept. In the process, new value propositions arise that call for aligning the established players with new entrants. The implementation of MaaS is still in its infancy, and many open questions remain about how local authorities should support its emergence. One key challenge relates to decomposing the focal offering of the MaaS ecosystem into complementary value propositions for key players in the industry. This paper presents the results of a constructive design research project, building on interviews with a leading MaaS provider, as well as stakeholders representing national and local authorities in four European cities. The findings emphasize the need to balance a shared desire to disrupt conventional ways of offering mobility services against reluctance to overturn the industry's public and private incumbents. The co-design framework that results serves to summarize five steps that enable MaaS by guiding strategic interaction between local authorities and various players in the mobility ecosystem. In addition, the article builds on ecosystem research insights and emphasizes the need to align value propositions among multiple stakeholders. The study suggests that the mobility sector provides a prominent empirical context for future ecosystem research.

Balancing various stakeholder (often contradictory) expectations creates tensions when developing value propositions for a new firm. Customers, funders, owners, and society-at-large often expect different value outcomes from a firm. They therefore have different motivations for being involved in the firm. These differences in value expectations are more strongly expressed in technology-based ventures, which often rely heavily on access to heterogeneous external resources such as capital, specialised knowledge, distribution, and service. In this paper, we use a wicked problem lens to explore specific challenges for companies to mediate seemingly contradictory propositions. We use two dimensions of wicked problems involving complexity and complicatedness, and conduct a secondary analysis of seven technology venture case studies from Australia and New Zealand. We then categorise the configuration types of these firms' stakeholder value propositions in the context of their scale-up process. We contribute to the value proposition and business model development research streams by suggesting that the challenge of mediating value propositions that conflict can manifest itself in four types of configurations: easy, complicated, complex and wicked. Complicated and complex propositions are thorny, but with structures and processes in place, they can be adequately addressed. On the other hand, wicked propositions consist of many unknowns and require firms to collaborate with stakeholders to derive outcomes that align company scaling objective with stakeholder value propositions.

One of the most valuable resources a company owns is the "portfolio of value propositions" to its diverse external stakeholders, such as customers, investors, and resource owners. In this article, we fill a gap in the value proposition literature by identifying features that make the value propositions of new companies different from other resources, along with factors that make them valuable. A value proposition is conceived as being what enables and improves business transactions between a new company and external stakeholders. We reason that two features in particular make value propositions of new companies distinct: (1) business transactions between a new company and one or more external stakeholders, and (2) investments to create and improve a new company's value propositions that enable business transactions. We provide a definition of "value proposition" and postulate that a value proposition will benefit a new company when it: (1) strengthens the new company's capabilities to scale; (2) increases demand for the new company's products and services; and (3) increases the number, diversity, and rapidity of external investments in the new company's value proposition portfolio.

To scale company value rapidly, a new company needs to develop value propositions for diverse parties – customers, investors, partners, suppliers, employees, and other resource owners, as well as align these value propositions with its scaling objectives. The purpose of this paper is to examine the relationships between value propositions for a diverse set of parties, and efforts from a new company to scale company value rapidly. We review the value proposition literature and then examine the relationships between 19 assertions about value propositions, as well as six stable topics that best describe the SERS corpus, which is comprised of 137 assertions about scaling companies early, rapidly, and securely. Conducting a topic model of eight topics led to six stable topics: Fundraise, Enable, Position, Communicate, Innovate, and Complement. We find that of the 19 assertions about value propositions, four are connected to Complement, four to Innovate, one to Position, one to Fundraise, and one to Communicate. A total of eight assertions about value propositions are not connected to any of the six stable topics. This paper contributes to our understanding of how a new company scales company value rapidly, adding an application of topic modelling to perform small-scale data analysis. The findings are expected to be relevant to entrepreneurs and new companies worldwide.

Many industries nowadays are facing drastic changes that enable and require new forms of interdependencies that facilitate complex ecosystems of interconnected actors. This paper investigates such a transformation facing the mobility sector, as user-centric bundles of mobility services are being introduced and compiled, by referring to the Mobility-as-a-Service (MaaS) concept. In the process, new value propositions arise that call for aligning the established players with new entrants. The implementation of MaaS is still in its infancy, and many open questions remain about how local authorities should support its emergence. One key challenge relates to decomposing the focal offering of the MaaS ecosystem into complementary value propositions for key players in the industry. This paper presents the results of a constructive design research project, building on interviews with a leading MaaS provider, as well as stakeholders representing national and local authorities in four European cities. The findings emphasize the need to balance a shared desire to disrupt conventional ways of offering mobility services against reluctance to overturn the industry's public and private incumbents. The co-design framework that results serves to summarize five steps that enable MaaS by guiding strategic interaction between local authorities and various players in the mobility ecosystem. In addition, the article builds on ecosystem research insights and emphasizes the need to align value propositions among multiple stakeholders. The study suggests that the mobility sector provides a prominent empirical context for future ecosystemresearch. [ABSTRACT FROM AUTHOR]

In this sense, the context of such companies offers an opportunity for both further advancing VP research and I n t r o d u c t i o n b y S t o y a n T a n e v Value proposition (VP) development has become the subject of growing research interest in the last 20 years. P a y n e a n d F r o w: We use an ecosystem perspective of VPs to explain how and why VPs adapt and change, as each actor proposes and receives VPs within a company. Value proposition, business ecosystems, new scaling companies, implicitly vs. explicitly formulated value propositions, value proposition alignment. [Extracted from the article]

This inductive study explores factors by which some new and innovative firms try yet fail to achieve born-global status. Born-global studies have a survivorship bias, with errors of omission that paint a favourable picture of how innovative and well-funded new ventures internationalise. In this paper, we counter such biases by focussing on innovative ventures that expressed intentions to become born global but failed to do so. Our findings reveal that these new ventures fail in two ways. Either they underestimate the need to tailor a portfolio of value propositions and over-extend their efforts across too many markets, a pattern called "baby born-global". Or they over-commit to one market at a time, thus limiting their capacity to develop value propositions in similarmarkets, a pattern called "micromultinational". [ABSTRACT FROM AUTHOR]

Balancing various stakeholder (often contradictory) expectations creates tensions when developing value propositions for a new firm. Customers, funders, owners, and society-atlarge often expect different value outcomes from a firm. They therefore have different motivations for being involved in the firm. These differences in value expectations are more strongly expressed in technology-based ventures, which often rely heavily on access to heterogeneous external resources such as capital, specialised knowledge, distribution, and service. In this paper, we use a wicked problem lens to explore specific challenges for companies to mediate seemingly contradictory propositions. We use two dimensions of wicked problems involving complexity and complicatedness, and conduct a secondary analysis of seven technology venture case studies from Australia and New Zealand. We then categorise the configuration types of these firms' stakeholder value propositions in the context of their scale-up process. We contribute to the value proposition and business model development research streams by suggesting that the challenge of mediating value propositions that conflict can manifest itself in four types of configurations: easy, complicated, complex and wicked. Complicated and complex propositions are thorny, but with structures and processes in place, they can be adequately addressed. On the other hand, wicked propositions consist of many unknowns and require firms to collaborate with stakeholders to derive outcomes that align company scaling objective with stakeholder value propositions. [ABSTRACT FROM AUTHOR]

This study was conducted in response to calls from the research community and industry for a greater empirical exploration of value propositions. It uses customer value-in-use as a starting point and employs empirical data on value propositions in a servitization context. The findings demonstrate how customers articulate the value-in-use, or benefits, of a selected offering. These results are subsequently used to develop value proposition elements that are aligned with these benefits. The implications for the value proposition literature and for companies in a servitization situation are discussed.

One of the most valuable resources a company owns is the "portfolio of value propositions" to its diverse external stakeholders, such as customers, investors, and resource owners. In this article, we fill a gap in the value proposition literature by identifying features that make the value propositions of new companies different from other resources, along with factors that make them valuable. A value proposition is conceived as being what enables and improves business transactions between a new company and external stakeholders. We reason that two features in particular make value propositions of new companies distinct: (1) business transactions between a new company and one or more external stakeholders, and (2) investments to create and improve a new company's value propositions that enable business transactions. We provide a definition of "value proposition" and postulate that a value proposition will benefit a new company when it: (1) strengthens the new company's capabilities to scale; (2) increases demand for the new company's products and services; and (3) increases the number, diversity, and rapidity of external investments in the new company's value proposition portfolio. [ABSTRACT FROM AUTHOR]

Companies develop and refine their market offer by creating new products for current and potential customers. Customer-focused research and development (R&D) is expected to shorten the time to market, improve cash flow, and reduce risks. It considers both customer strategy as well as customer orientation. In practice, this means that customer strategy directs current and potential customers to a company’s offering, while customer orientation allocates R&D activities to meet customers’ needs. This paper contributes to customer-driven R&D research by investigating whether a company’s offer meets customer needs that can be supported by customer strategy and orientation. Specific focus is given to companies operating in business-to-business (B2B) markets. The paper is based on an analysis of quantitative survey data from 292 respondents representing key account management and sales management professionals in Finnish firms across several industries. The findings indicate that offer meeting customers’ needs are supported by customer strategy and orientation. The paper provides guidelines on how companies can align their research and development activities to address both existing customers as well as current and potential needs and requirements. [ABSTRACT FROM AUTHOR]

To scale company value rapidly, a new company needs to develop value propositions for diverse parties - customers, investors, partners, suppliers, employees, and other resource owners, as well as align these value propositions with its scaling objectives. The purpose of this paper is to examine the relationships between value propositions for a diverse set of parties, and efforts from a new company to scale company value rapidly. We review the value proposition literature and then examine the relationships between 19 assertions about value propositions, as well as six stable topics that best describe the SERS corpus, which is comprised of 137 assertions about scaling companies early, rapidly, and securely. Conducting a topic model of eight topics led to six stable topics: Fundraise, Enable, Position, Communicate, Innovate, and Complement. We find that of the 19 assertions about value propositions, four are connected to Complement, four to Innovate, one to Position, one to Fundraise, and one to Communicate. A total of eight assertions about value propositions are not connected to any of the six stable topics. This paper contributes to our understanding of how a new company scales company value rapidly, adding an application of topic modelling to perform small-scale data analysis. The findings are expected to be relevant to entrepreneurs and new companies worldwide. [ABSTRACT FROM AUTHOR]

Thus, new scaling companies need to adopt an explicit multiple stakeholder perspective on VP development and explore how AI resources and digital capabilities can help them enhance the scaling potential of their VPs. The Value Proposition (VP) development practices of a company are an expression of the most fundamental organizing principles of its business (Webster, 2002). [Extracted from the article]

This study was conducted in response to calls from the research community and industry for a greater empirical exploration of value propositions. It uses customer valuein- use as a starting point and employs empirical data on value propositions in a servitization context. The findings demonstrate how customers articulate the value-in-use, or benefits, of a selected offering. These results are subsequently used to develop value proposition elements that are aligned with these benefits. The implications for the value proposition literature and for companies in a servitization situation are discussed. [ABSTRACT FROM AUTHOR]

This article provides entrepreneurs with guidance to help understand and express the specific and compelling value proposition for their Internet of Things (IoT) offer. IoT enables such a wide range of possible short-and long-term opportunities that IoT entrepreneurs may fall into the trap of considering IoT generally rather than positioning their offer to a buyer in a specific manner that helps win deals. The process of understanding and expressing a compelling value proposition will help the IoT entrepreneur focus their offer, understand who the real buyer is, and demonstrate tangible value to that buyer in a manner that is directed towards winning deals. [ABSTRACT FROM AUTHOR]

In this study, we aimed to explore the potential of a design-driven living lab as an innovative approach to addressing societal challenges. This living lab incorporates design qualities such as exploration, open-ended results, and disruption. This approach was applied in three case studies within the context of dementia, each of which explored the impact of Qwiek.up - a media system that creates an ambient experience in a room through projection and sound. A cluster analysis of the results in the three case studies showed that the system has considerable potential for people with dementia, and possibly also for other groups. In addition, the design-driven approach led to new applications in care, improved functionality, and a broader design space. Our findings show that design-driven living labs can widen the scope of innovation and improve the value proposition of an innovative solution. [ABSTRACT FROM AUTHOR]

Technology entrepreneurs must create value for customers in order to generate revenue. This article examines the dimensions of customer value creation and provides a framework to help entrepreneurs, managers, and leaders of open source projects create value, with an emphasis on businesses that generate revenue from open source assets. The proposed framework focuses on a firm's pre-emptive value offering (also known as a customer value proposition). This is a firm's offering of the value it seeks to create for a customer, in order to meet his or her requirements.

Technology companies scan the competitive arena for patents to discover research activities and technology trends. Patents are the outcome of innovation processes that take several month or even years, depending on the industry. The process of publishing patents usually lasts longer. A huge time gap of up to several years between early research and development activities and published patents is the consequence. Therefore, a patent is a weak indicator for the identification of early innovation activities. However, the inventor needs intellectual assets such as data, knowledge, and expertise to carry out an innovation process. It is likely that these intellectual assets can improve the competitor analysis -- rendering them primary targets. In this article, we introduce a systematic approach to detect intellectual property (IP) activities of stakeholders in selected technology fields (e.g., hiring experts, taking part in research projects, gathering specific data). A technology field with a low intensity of IP activities offers great opportunities, which we call a "white spot". Our proposed approach can help identify the white spots in innovation-driven IP management and thereby help devise recommendations to improve a company's IP portfolio. [ABSTRACT FROM AUTHOR]

Business model and living lab research both have similar objectives - to maximize the probability of successful market introduction of innovative solutions - be it through different means. Yet, there are still only few studies or reports discussing both, with those studies that do touch the subject staying at a high level. iMinds Living Labs has gained a lot of experience in combined living lab and business model innovation projects and, rather than being competing approaches, our results have shown that these two research methodologies can be complementary, where the combined approach turns out to be more powerful than each individual approach used alone. The goal of this article is to promote the inclusion of business model research in a model of "a living lab as a service" (and vice versa) by explaining the benefits and by introducing a practical framework to implement such combined research tracks based on the experience at iMinds Living Labs over the past few years. [ABSTRACT FROM AUTHOR]

Cybersecurity for networked medical devices has been usually "bolted on" by manufacturers at the end of the design cycle, rather than integrated as a key factor of the product development and value creation process. The recently released cybersecurity guidelines by the United States Food and Drug Administration (FDA) offer an opportunity for manufacturers to find a way of positioning cybersecurity as part of front-end design, value creation, and market differentiation. However, the technological architecture and the functionality of such devices require an ecosystem approach to the value creation process. Thus, the present article adopts an ecosystem approach to including cybersecurity as part of their value proposition. It extends the value blueprint approach suggested by Ron Adner to include an additional dimension that offers the opportunity to define: the potential locations of cybersecurity issues within the ecosystem, the specific nature of these issues, the players that should be responsible for addressing them, as well as a way to articulate the added cybersecurity value as a competitive differentiator to potential customers. The value of the additional blueprint dimension is demonstrated through a case study of a representative networked medical device - a connected insulin pump and continuous glucose monitor. [ABSTRACT FROM AUTHOR]

This article describes an empirical study focusing on the classification of existing business opportunities in the 3D printing technology sector. The authors address three research questions. First, how do technology startups integrate new 3D printing technologies into specific market offers? Second, which value propositions are most attractive in terms of interest from the public and investors? Third, how does the degree of disruptiveness of value propositions relate to the degree of interest from the public and investors? The most notable finding is the link between the business traction of 3D printing technology startups and the degree of disruptiveness of their value propositions. Thus, the article provides empirical support for the conceptualization of the degree of disruptiveness of the value proposition as a metric for the evaluation of the business potential of new technology startups. [ABSTRACT FROM AUTHOR]