%0 Journal Article %J Technology Innovation Management Review %D 2018 %T Value Creation in the Internet of Things: Mapping Business Models and Ecosystem Roles %A Heini Ikävalko %A Petra Turkama %A Anssi Smedlund %K business model %K ecosystem %K Internet of Things %K role %K value co-creation %X The increasing connectivity provided by the Internet of Things (IoT) supports novel business opportunities for actors in overlapping service systems. Therefore, the co-creative nature of IoT business needs to be further studied. This article reports an empirical study on a European IoT initiative. It contributes to the understudied area of IoT ecosystem dynamics by describing different actor roles and activities in the IoT use cases, and their implications for value creation in IoT ecosystems. Our findings show how IoT ecosystem actors may take the roles of ideator, designer, or intermediary in different IoT design layers, and we recommend this perspective to better understand and describe ecosystem business models. We also discuss the theoretical and managerial implications of our findings. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 8 %P 5-15 %8 03/2018 %G eng %U http://timreview.ca/article/1142 %N 3 %1 Aalto University Heini Ikävalko holds a Doctor of Science degree in Technology from the Helsinki University of Technology’s Department of Industrial Engineering and Management in Finland. She has worked as postdoctoral researcher at the Helsinki University of Technology and the Aalto University School of Science. Her current research at Aalto University’s School of Business Center for Knowledge and Innovation Research focuses on business models, innovation management, and strategy in the digital transformation. %2 Aalto University Petra Turkama is the Director of the Center for Knowledge and Innovation Research (CKIR) at Aalto University in Finland. She worked for Nokia in Finland and Germany for 10 years before moving to academia and receiving her PhD in Science from Lappeenranta University of Technology in Finland. She is an active contributor to research and conferences in the area of service and technology management and innovation and entrepreneurship. She serves as an adjunct faculty to several universities in the United Arab Emirates. %3 Aalto University Anssi Smedlund is a Postdoctoral Researcher at the Center for Knowledge and Innovation Research (CKIR) at Aalto University in Finland. He received his PhD in Industrial Engineering and Management from the Aalto School of Science. He has acted as a principal investigator in numerous service science and innovation management research projects and has held visiting positions at Tokyo Institute of Technology and UC Berkeley Haas School of Business. Dr. Smedlund has published various peer-reviewed publications in the journals, conferences, and books in the fields of knowledge management, service science, and information system science. %R http://doi.org/10.22215/timreview/1142