The objective of the “Building the Ecosystem” process is to incubate and advance ideas for mutual value creation by catalyzing a diverse network of partnerships among the MNC and different actors within the local community. This locally-based, semi-institutionalized network performs a number of functions, including:
- serving as a conduit or “clearing-house” for knowledge, capabilities and other resources necessary in launching a given enterprise
- maximizing the effectiveness and impact of both local resources and the MNC’s resources
- spreading the risk involved in bringing ideas to fruition
- supporting the development of new MNC capabilities and competencies
- enhancing the transparency and responsiveness of new ventures to the local community
- acting as an ongoing new-venture support network for local community members
The “Building the Ecosystem” process can be conceptualized as a mutual value chain comprised of four overlapping tasks that are guided by a common vision:
