In the paced world of business today ecosystems have gained importance in strategy and innovation management. No company works alone anymore, instead they collaborate within partner networks to create value together. This article delves into these topics and their significance, for businesses and universities aiming to boost their involvement, in innovation driven by ecosystems.

The Excellence Through Ecosystems event, organised by Synocus Oy and held at Finlandia Hall on March 18, 2025, brought together business leaders, policymakers, and academics to explore the role of ecosystems in fostering innovation and competitiveness. The event provided a platform for discussions on how strategic orchestration, firm positioning, and modular collaboration can drive ecosystem success. One of the key themes was how Finnish companies and institutions can leverage Business Finland’s (n.d.) Veturi program, which supports large-scale research, development, and innovation (RDI) initiatives by encouraging leading companies to develop extensive innovation ecosystems. Through challenge competitions, these initiatives aim to solve significant societal or technological issues by fostering collaboration between firms, universities, and research organizations, ensuring that Finland remains competitive in global markets.

In my role as the coordinator of the innovation management and ecosystems team at Laurea University of Applied Sciences I concentrate on enhancing knowledge in ecosystem formation and organisation activities. Our objective is to deepen our comprehension of how ecosystems promote innovation and tackle societal issues. Participating in this event offered a chance to interact with specialists and delve into the strategic implementation of ecosystem concepts.

The Strategic Logic of Ecosystems

Ecosystems differ fundamentally from traditional supply chains or alliances. As Jacobides et al. (2018) explain, ecosystems are networks of interdependent firms that co-evolve by investing in specialized assets and capabilities. Unlike vertically integrated firms, ecosystem participants rely on modularity—shared standards that allow multiple players to innovate separately while integrating their contributions into a unified value proposition.

Jacobides (2025) emphasized that firms must strategically decide their role in an ecosystem—whether as orchestrators, partners, or complementors. Orchestrators define the architecture, establish governance rules, and enable complementary firms to contribute. Companies like Google, Apple, and Nvidia exemplify how orchestrators shape ecosystems by attracting partners and setting industry standards. Partners differentiate their offerings while securing direct customer relationships, while complementors provide specialized components that integrate seamlessly into broader ecosystems. A firm’s role affects how it captures value: orchestrators invest heavily but benefit from control, while complementors can scale faster but must align with platform constraints (Jacobides 2022). For Finnish firms seeking global ecosystem engagement, these distinctions are crucial.

Ecosystem governance is essential for ensuring that firms collaborate effectively and drive innovation. Jacobides (2025) argued that successful ecosystems feature well-defined rules that reduce coordination friction among participants. Standardized interfaces, such as APIs, enable modular innovation, while clear role delineation ensures that firms align their investments with ecosystem needs. A balanced value capture model, where orchestrators and complementors share benefits fairly, is necessary to sustain long-term participation. Jacobides (2025) also outlined essential dos and don’ts for firms engaging in ecosystems, emphasizing strategic clarity and long-term value creation (Table 1).

What to Do	What Not to Do
✅ Prioritize (choose your battlefields, choose your anchors, complementors to enlist)	❌ Suffer delusions of grandeur (think you can do it all)
✅ Be customer obsessed (jobs to be done—by you or someone more nimble!)	❌ Build an Ego-system (assume customers & partners will flock)
✅ Co-create value by strategic partnerships (proactively seek collaborators)	❌ Try to offer it all (without looking at customer choice)
✅ Have a game plan (why you’re in it; how to compete; what goes first; how to grow)	❌ Treat your partners as suppliers (co-create, don’t just squeeze)
✅ Measure success and reward it (set targets, KPIs, create buy-in inside)	❌ Rush (ecosystems take time)

Ecosystem Strategy in Practice: Finnish Companies and Universities

These governance principles align with Finland’s ambition to increase its RDI share of GDP to 4% by 2030. While Finland has strong collaborative networks, more structured ecosystem orchestration is needed to strengthen industry-academia collaboration. The event featured discussions on how companies and universities in Finland are structuring their engagement with ecosystems. The corporate panel explored the strategic role of partnerships and risk-sharing in innovation, while the academic discussion focused on universities’ role in supporting industry-driven ecosystems.

Finnish companies are actively integrating ecosystem strategies, balancing collaboration and competition. Mervi Airaksinen (2025), Managing Director of Microsoft Finland, highlighted how global and local partnerships help drive innovation. Microsoft’s collaborations with Fortum and Fingrid illustrate the importance of aligning digital infrastructure with sector expertise. Christine George (2025), Executive Vice President of Konecranes, reinforced this point, noting that shared logistics data enhances operational efficiency and value co-creation among ecosystem partners. These cases demonstrate Jacobides’ (2025) assertion that complementarity—where firms enhance each other’s value—remains at the core of successful ecosystem strategies.

Another key theme was the need for integrated value chains to accelerate the scaling of innovation. Simo Säynevirta (2025), Head of Green Electrification Mission, from ABB argued that sequential R&D models are too slow for today’s market dynamics. Instead, firms must develop parallel innovation processes where research, development, and market entry happen in tandem. This view aligns with Jacobides’ (2022) critique of traditional innovation models, which often fail to account for the speed required in competitive ecosystems.

Universities also play a critical role in ecosystem development, but challenges remain in bridging academic research with industry needs. Jorma Eloranta (2025), board chair of Tampere University, shared insights into the EU-funded chip ecosystem, emphasizing that academia must act as an adaptive complementor in business ecosystems. Similarly, Teresa Kemppi-Vasama (2025), board chair of the LUT University, described how LUT collaborates with Kempower and SMEs to establish a green electrification ecosystem. This collaboration reflects Jacobides’ model of mission-driven ecosystem orchestration, where universities become hubs for applied innovation.

The discussion also highlighted Finland’s potential to lead in AI and defense-related ecosystems. Tero Ojanperä (2025), board chair of Aalto University, stressed that strategic investment in high-growth domains is essential, as unfocused expansion risks diluting impact. His remarks aligned with Jacobides’ (2025) argument that ecosystems should prioritize selected growth areas rather than attempt to compete across too many fronts.

Key takeaways

The event underscored that Finnish firms and universities must make deliberate choices when engaging in ecosystems. Not every firm should aim to be an orchestrator—companies must assess their strengths and decide whether to lead, partner, or complement existing ecosystems. Effective governance, including role clarity, standardized interfaces, and equitable value-sharing mechanisms, enhances ecosystem resilience and innovation potential. Business Finland’s Veturi programs should focus on fostering ecosystem orchestration rather than solely supporting individual firm development. Universities should integrate ecosystem strategies into their research and education models, ensuring alignment with industry priorities.

The event provided valuable insights not only for businesses and policymakers but also for institutions like Laurea University of Applied Sciences. The discussions reinforced the importance of ecosystem orchestration in fostering innovation, and the role that applied research institutions play in enabling collaboration. For Laurea, the key takeaway is the need to further strengthen its engagement in ecosystem development by leveraging its expertise in service design and living lab methodologies (Hirvikoski et al. 2020). By actively participating in ecosystem orchestration and supporting industry-academia collaboration, Laurea can contribute to the broader mission of sustainable innovation and long-term societal impact (Hirvikoski 2023).

By applying these insights Laurea might help Finland strengthen its role in global innovation ecosystems. A well-structured and strategically managed ecosystem does not just create value for individual participants but drives sector-wide transformation, ensuring long-term competitiveness in a rapidly evolving economic landscape.

References

• Airaksinen, M. 2025. Companies Engaging Ecosystems for Sustainable Growth. Panel discussion at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.
• Business Finland. n.d. Funding for Leading Companies and Ecosystems. Accessed: 19.3.2025. Available: https://www.businessfinland.fi/en/for-finnish-customers/services/funding/funding-for-leading-companies-and-ecosystems
• Eloranta, J. 2025. Universities Ensuring Excellence in Ecosystems. Panel discussion at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.
• George, C. 2025. Companies Engaging Ecosystems for Sustainable Growth. Panel discussion at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.
• Hirvikoski, T. (ed.) 2023. Eurooppalainen korkeakoulu osallistavan tutkimus-, kehittämis- ja innovaatiotoiminnan mahdollistaja-orkestroijana. Osa 2. Korkeakoulutoiminnan näkökulmia monitoimijaiseen yhteiskehittämiseen. Laurea Publications. Available: https://urn.fi/URN:ISBN:978-951-799-549-8
• Hirvikoski, T., L. Erkkilä, M. Fred, A. Helariutta, I. Kurkela, P. Pöyry-Lassila, K. Saastamoinen, A. Salmi, and A. Äyväri (eds.) 2020. Co-Creating and Orchestrating Multistakeholder Innovation. Laurea Publications. Available: https://urn.fi/URN:NBN:fi:amk-2020082719893
• Jacobides, M. G., C. Cennamo, and A. Gawer. 2018. Towards a Theory of Ecosystems. Strategic Management Journal 39 (8): 2255–2276. Available: https://doi.org/10.1002/smj.2904
• Jacobides, M. G. 2022. ”How to Compete When Industries Digitize and Collide: An Ecosystem Development Framework.” California Management Review 64 (3): 99–123. Available: https://doi.org/10.1177/00081256221083352
• Jacobides, M. G. 2025. Leveraging Ecosystems to Deliver Value and Systemic Solutions. Presentation at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.
• Kemppi-Vasama, T. 2025. Universities Ensuring Excellence in Ecosystems. Panel discussion at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.
• Ojanperä, T. 2025. Universities Ensuring Excellence in Ecosystems. Panel discussion at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.
• Säynevirta, S. 2025. Companies Engaging Ecosystems for Sustainable Growth. Panel discussion at Excellence Through Ecosystems, Finlandia Hall, 18.3.2025.