Technology-push and market-pull strategies: the influence of the innovation ecosystem on companies' involvement in the Industry 4.0 paradigm

James Boyer and Annemarie Kokosy
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James Boyer: LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique

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Abstract: Purpose This study analyzes how the innovation ecosystem helps integrate technology-push and market-pull strategies in the Industry 4.0 paradigm. Design/methodology/approach This study investigates companies' involvement in the Industry 4.0 paradigm through technology-push strategies, and through both technology-push and market-pull strategies. The authors perform two econometric logit models to test the influence of collaborations with heterogeneous actors, research and university relationships, and relations with business incubator (the pivot actor) on companies' involvement in Industry 4.0. Findings The study empirically shows that developing relationships with a greater diversity of actors, collaborating with university and research laboratories, and developing intense relationships with business incubator increase the likelihood for companies to integrate both technology-push and market-pull strategies in companies' involvement in the Industry 4.0 paradigm. Practical implications This study provides insights to practitioners who are interested or involved in the new Industry 4.0 paradigm. The authors' study explains how specific features of an innovation ecosystem, such as complex interactions among actors, can stimulate creative ideas and successfully implement innovations to address Industry 4.0 challenges. Originality/value First, the authors confirm the role of the innovation ecosystem on companies' involvement in the Industry 4.0 paradigm. Second, the authors study highlights that the innovation ecosystem is a new relevant framework that enables companies to integrate both technology-push and market-pull strategies. Third, we provide empirical evidence about the role of business incubator on firms' strategies to get involved in the Industry 4.0 paradigm.

Date: 2022-09-30
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Citations: View citations in EconPapers (1)

Published in Journal of Risk Finance, 2022, 23 (5), pp.461-479. ⟨10.1108/JRF-12-2021-0193⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03967841

DOI: 10.1108/JRF-12-2021-0193

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