Co-innovation Competence: a Strategic Approach to Entrepreneurship in Regional Innovation Structures

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This work contributes to entrepreneurship research and offers practical implications for entrepreneurs and entrepreneurship promotors by critically analyzing a networked approach to value creation processes of young knowledge-intensive entrepreneurial firms and assessing precise strategies and tactics for entrepreneurial firms to exploit these structures. In this context the concept of co-innovation competence is introduced and empirically analyzed. Results indicate that entrepreneurs follow a specific approach towards networking minimizing transaction costs taking an on-demand-based perspective of networking. In this case entrepreneurs may relate to regional innovation promotors and also reach beyond regional structures to explore suitable partners and exploit structural holes.