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Small and medium-sized enterprises often face resource deficits and there- fore depend on cooperating with other actors to stay innovative in a competitive environment. Establishing and maintaining actual co-creation and service inter- action strategies however is challenging. A reason for this is the complexity of finding methodologies and tools to create valuable outcome and the lack of knowledge of collaboration toolsets, also in virtual environments. This paper introduces an Innovation-Method-Framework consisting of innovation methods for increased service interaction and value co-creation among service stakeholders. Also, toolsets for the framework’s practical application are provided.
Smart services disrupt business models and have the potential to stimulate the circular economy transition of regions, enabling an environmentally friendly atmosphere for sustainable and innovation-driven growth of regions. Although smart services are powerful means for deploying circular economy goals in industrial practices, there is little systematic guidance on how the adoption of smart services could improve resource efficiency and stimulate smart regional innovation-driven growth, enabled through circular design. Implemented in the scope of Vorarlberg’s smart specialization strategy, this paper contributes to the literature on the circular economy and regional innovation-driven growth by assessing critical factors of the value creation and value capture implemented within the scope of the quadruple helix system. By identifying the main challenges and opportunities of collaborative value creation and value capture in setting-up smart circular economy strategies and by assessing the role of innovation actors within the quadruple helix innovation system, the study provides recommendations and set of guidelines for managers and public authorities in managing circular transition. Finally, based on the analysis of the role of actors in creating shared value and scaling-up smart circular economy practices in the quadruple helix innovation systems, the paper investigates the role of banks as enablers of circular economy innovation-driven regional growth and smart value creation.