Value capture in open innovation processes with radical circles: A qualitative analysis of firms’ collaborations with Slow Food, Memphis, and Free Software Foundation

Despite the wealth of research on open innovation, the mechanisms that enable capturing value through adopting an open innovation approach remain largely unexplored. In this study, we focus on open innovation processes among firms and radical circles and shed light on the related value capture mechanisms. We rely on a detailed qualitative case analysis of collaborations between firms and three radical circles (i.e., Slow Food, Memphis, and the Free Software Foundation). Our case studies highlight that the firms captured value from collaborating with these radical circles through developing internal assets (reputational, organizational, intellectual and human, and technological) and new business models. Starting from these insights, the study offers several contributions to open innovation research as well as interesting avenues for future inquiry into this topic.