Abstract

Innovation ecosystems and design thinking are both recognized for fostering collaboration, adaptability, problem-solving, and user-centered innovation. However, their combined potential to enhance value co-creation within business environments remains underexplored and insufficiently theorized. Addressing this research gap, this study employs an integrative literature review and a theory-driven approach to examine the implementation and benefits of design thinking methodologies within innovation ecosystem frameworks. The research introduces a comprehensive and novel theoretical framework that synthesizes the iterative value co-creation processes of innovation ecosystems with design thinking methods. The findings emphasize that integrating design thinking into innovation ecosystems’ paradigm offers structured and practical methodologies that strengthen adaptability, inclusiveness, and resilience in their value co-creation processes. By bridging these two realms, the study advances theoretical understanding and offers relevant, actionable, and practical guidance for managing value co-creation’s complexity, fostering sustainable innovation, and enabling ecosystems to address dynamic, evolving market and societal challenges more effectively.