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Circular innovation ecosystem: a multi-actor, multi-peripheral and multi-platform perspective

Author

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  • Pragya Thakur

    (VIT University
    VIT University)

  • Vincent Herald Wilson

    (VIT University)

Abstract

Circular economy has created a seismic shift in the field of natural resource preservation. Economies and organizations are endeavoring to operationalize circular economy; however, a supportive ecosystem is essential for the operationalization of circular economy, and an innovation mindset is necessary for the sustainability of circular economy. This research work considers innovation as the research object and the realization of circular economy as the goal, considering the multi-perspective coupling and coordination degree from the perspective of choreography governance. A conceptual framework is proposed for the circular innovation ecosystem which integrates five components of circular innovation ecosystem (actors, value focus, artifacts, resource infrastructure and choreography). The framework highlights the importance of the knowledge management platform and co-innovation platform for innovation in circular economy. This study makes the first attempt to understand circular economy ecosystem at meso-level and amalgamates two fields of study, namely circular economy ecosystem and innovation ecosystem, that ensures the sustainability of circular economy. This conceptual tool enhances circular advances and will aid researchers, organizations and policymakers to understand the nuances of circular innovation ecosystem. Furthermore, it will aid organizations and economies to create strategic tools to create a supportive ecosystem for sustainability of circular economy.

Suggested Citation

  • Pragya Thakur & Vincent Herald Wilson, 2024. "Circular innovation ecosystem: a multi-actor, multi-peripheral and multi-platform perspective," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(6), pages 14327-14350, June.
    • Handle: RePEc:spr:endesu:v:26:y:2024:i:6:d:10.1007_s10668-023-03196-y
    DOI: 10.1007/s10668-023-03196-y
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