The development and market success of eco‐innovations

Purpose - The study, which compares the success factors for eco‐innovations with those factors for other innovations, is intended to improve understanding of how eco‐innovations achieve market success. Design/methodology/approach - A case study design is used. Six eco‐innovations cases and six other innovations cases are compared. Data were obtained mainly from interviews with the eco‐innovators and the other innovators, written materials about the innovations, and secondary data from an earlier quantitative study. Findings - The study shows that there are both similarities and differences in the success factors for the two types of innovations. One similarity is that a network with diverse competences supports successful innovators. However, for eco‐innovators the network is used more for solving technological problems. Other innovators use the network to a greater extent for assistance with financing and marketing. In addition, eco‐innovators have greater difficulty than other innovators in attracting venture capital for development. Research limitations/implications - The results indicate that an interesting approach for future research would be to take a life‐cycle perspective that identifies the factors that influence the further growth and development of eco‐innovative firms. Practical implications - The identification of the success factors for eco‐innovations' development may improve their chances of success. Furthermore, the results can help policy‐makers improve the support system for commercialization of eco‐innovations. Originality/value - As a comparative study of success factors for eco‐innovations and other innovations, the study presents a new way to identify such factors for eco‐innovators.