The concept of ecosystems has become fundamental in strategy and innovation management regarding today’s business world. Companies are not islands but the must increasingly collaborate with network partners in value creation. This article explores these topics and how ecosystems can be employed by businesses and universities.

ChatGPT was used in preparing this article to generate summaries of event sessions and extract key points from reference materials that supported the writing process. The author retained full control over the analysis, interpretation, and final wording of the text and is solely responsible for its content.

The Excellence Through Ecosystems event was organised by Synocus Oy and held at Finlandia Hall on 18.3.2025. Its target audience was business leaders, policymakers, and academics interested in exploring how ecosystems can foster innovation and competitiveness. Topics featured in the event included for example strategic orchestration, positioning companies in relation to ecosystems and modular approaches to collaboration. One of the key applied themes of the event was how Finnish companies and institutions might approach Business Finland’s (n.d.) Veturi program. The program support large-firm centric research, development, and innovation (RDI) initiatives that invite other organisations to collaborate in innovation ecosystems. The goal of the Veturi programs is to help companies solve societal or technological challenges that require collaboration between firms, universities, and research organizations, while helping Finland be competitive in global markets.

In my role as the coordinator of the innovation management and ecosystems theme team at Laurea University of Applied Sciences I’m interested in exploring and sharing new knowledge related to the topic. The theme team’s goal is to build know-how and new projects on how ecosystems can help innovation happen while tackling societal challenges. Participating in the event provided an opportunity to hear from leading academics and practitioner on how ecosystems might function.

The Strategic Logic of Ecosystems

Ecosystems – and their management – differs from supply chains and alliances. Jacobides et al. (2018) define ecosystems as networks of interdependent firms that co-evolve by investing in specialized assets and capabilities. Ecosystem participants rely on the modularity enabled by shared standards the allow multiple organisations to innovate by themselves but integrate the contributies together to form unique value propositions.

In the event Jacobides (2025) emphasised that in order to succeed in ecosystem companies must make strategic decisions regarding their roles in ecosystems. According to him they can decide to position themselves as orchestrators, partners, and complementors. Orchestrators play a central role in ecosystems as they enable other companies’ contributions. This is done by for example defining the architectures and establishing the governance rules by which ecosystems operate. According to Jacobides companies like Google, Apple, and Nvidia are examples of orchestrators that have been successful in shaping ecosystems, gathering partners and setting standards which industry uses. Ecosystem partners have their own differentiated offerings which cater to direct customer relationships whereas complementors provide components that work seamlessly with the broader ecosystem. A company’s role defines how it captures value in an ecosystem. Orchestrators invest heavily and are able to benefit from control, while complementors can move faster but must play by the platform’s constraints (Jacobides 2022). For Finnish companies seeking to participate in ecosystems understanding these distinctions is of high relevance.

Ecosystem governance is a success factor of ecosystems because it makes sure that companies collaborate effectively and promote innovation together. In the event Jacobides (2025) stated that the most successful ecosystems have well-defined rules make it easier for participants to collaborate. Standardized interfaces, for example APIs (Application Programming Interfaces), enable modular innovation while defining suitable roles help companies position themselves in relation to the ecosystem’s 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 linear models of doing R&D are too slow to cater to today’s fast-pace markets. Instead, according to him, companies should develop parallel innovation practices where research, development, and market-fit exploration can happen concurrently. This view is in alignment with Jacobides’ (2022) critique of traditional innovation models do not operate at the speeds needed in competitive ecosystems.

Universities could also play roles in ecosystems, but there are challenges that need to be solved when fitting academic research with industry needs. Jorma Eloranta (2025), the chairperson the of the board of Tampere University, shared insights into the EU-funded chip ecosystem where academia should act as adaptive complementors in business ecosystems. Teresa Kemppi-Vasama (2025), board chair of the LUT University, described how LUT collaborates with Kempower and SMEs to establish a green electrification ecosystem showing how universities might become hubs for applied innovation.

The event’s panel discussion also highlighted Finland’s potential to be leader in AI and defense-related ecosystems. Tero Ojanperä (2025), the chairman of the board of Aalto University, highlighted the point that strategic investment in high-growth domains is essential whereas doing everything does not create impact.

Key takeaways

One of my main takeaways from the event was related to the fact that Finnish companies and universities should make decisions on which ecosystems they want to operate in and how to position themselves in the ecosystems. Even though being in an orchestration position might be compelling, companies should realistically evaluate their strengths in relation to other players. Based on that they can position themselves realistically as leaders, partners or complementors. Business Finland’s Veturi programs should focus more on strengthening ecosystem orchestration and the collaboration between companies rather than only support the development of individual firms. Universities should explore how ecosystem strategies could be developed in relation to their relative strengths in research and education to build further coherence with the needs of the industry.

The event also offered insights for players in the applied sciences like Laurea University of Applied Sciences. Laurea could build its competences in ecosystem development by leveraging its expertise in service design and living lab methodologies (Hirvikoski et al. 2020). Laurea could help contribute to Finland’s mission of sustainable innovation and long-term societal impact through partnerships in collaboration between industry and academia (Hirvikoski 2023).

By focusing on ecosystem development, Laurea could help Finland strengthen its role in global innovation ecosystems that can drive the sector-wide transformation towards a just and inclusive yet competitive digital and sustainable transition.

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.

ChatGPT was used in preparing this article to generate summaries of event sessions and extract key points from reference materials that supported the writing process. The author retained full control over the analysis, interpretation, and final wording of the text and is solely responsible for its content.