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While open innovation and university–industry collaboration contribute significantly to innovation in industrialized countries, it is less clear how these create value in emerging economies and new application contexts. This study examines the introduction of global practices into the Nicaraguan context. Adopting a service-dominant logic perspective of value co-creation through interaction on multiple levels, we noted the importance of systemic orchestration or staging of the ecosystem, organizations, and challenge project delivery. We also recognize the importance of enabling activities and spaces that promote innovation. While our findings indicated that the expected and perceived value creation did not fully match, we found encouraging signs of the build-up of foundational practices to support national development agendas. There is evidence of shifted mindsets and looped learning across the system. We propose a model for the systemic development of enabling structures, value creation, and innovation spaces when transferring practices into new application areas. We expect this model to be useful for practitioners when planning and engaging in transferring open innovation practices across application contexts. The study contributes to our knowledge and practice of creating value through applying open innovation within university–industry collaboration in emerging economies, a little-studied theme.

Open Innovation with Value Co-Creation from University–Industry Collaboration