Smart Circular Economy Value Drivers: The Role of the Financial Sector in Stimulating Smart Regional Innovation-Driven Growth

Bojana Suzic (), Sabrina Urban, Michael Hellwig and Martin Dobler
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Bojana Suzic: Vorarlberg University of Applied Sciences
Sabrina Urban: Vorarlberg University of Applied Sciences
Michael Hellwig: Vorarlberg University of Applied Sciences
Martin Dobler: Vorarlberg University of Applied Sciences

A chapter in Smart Services Summit, 2022, pp 55-64 from Springer

Abstract: Abstract 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.

Keywords: Smart systems; Circular economy; Value co-creation; Collaborative models; Quadruple helix; Business model innovation; Dynamic systems (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prochp:978-3-030-97042-0_6

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DOI: 10.1007/978-3-030-97042-0_6

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