In the current environment of high volumes of data, large established firms are looking for new ways of gaining a competitive advantage through Open Innovation (OI). Sharing unstructured data represents such an opportunity. However, the literature is scarce in understanding how to attract this data and realize more value within the OI funnel. We thus investigated a business model illustrating how large research-intensive firms can use it to support data sharing for OI. We interviewed 25 professionals in an OI project between a global pharma organization focused on the animal health market, a UK-based university, and data science firms. Firstly, we provide evidence of the role of data sharing in OI for extracting value. Secondly, we theorize a business model that supports data sharing for inbound and outbound OI using three stages of value realization. We welcome further research to confirm or extend our findings in other industrial settings.
Kazantsev NZwiegelaar, Jeremy B. Islam, Nazrul Maull RBrown AVorley, Tim
Oxford Brookes Business School
Year of publication: 2025Date of RADAR deposit: 2025-05-28