The Guide To Building A Successful And Collaborative Vendor Ecosystem June 13, 2013 RICCentre By: Shamini Sellvaratnam Interested in building and growing a local vendor ecosystem, but not sure where to start? In his article, Professor Walter Van Dyck, Partner and Associate Professor of Innovation Management at Vlerick Leuven Gent Management School, recognizes that in order to create a collaborative innovation ecosystem, interdependent relations among all partners need to exist. Below, Prof Van Dyck looks at three types of innovation ecosystems: 1. Technology-based Ecosystems The focus here is on idea conversation and innovation adoption. In order to create an ecosystem that is of value to all partners, both suppliers and companies should collaborate to create a network that constantly promotes the fast adoption of innovation. By combining existing technologies between partners, both the network and industry will see an increase in innovation, leading to new market disruptions. 2. Science-based ecosystem Players within a science-based ecosystem usually include research partnerships among universities, small front-end players like biotech companies or design houses, large pharmaceutical or semiconductor companies. In this ecosystem, partners work together to pool the resources necessary to take an idea from a small player within the industry and scale them to market. 3. Service-based ecosystem In a service-based ecosystem, the goal is “solution adoption”. Industries that typically build this ecosystem include banks, consultancies, utilities and contract manufacturing, in which the ecosystems are built around the services they offer. Innovation within the service-based ecosystem is critical to help optimize assets such as manufacturing, or a service operation and a client base. With the increasing need for businesses to access, build and grow collaborative vendor networks, Silicon Peel and the RIC Centre will be hosting the 6th Silicon Peel Meetup on Technology Innovation “Leveraging Vendor Ecosystems.” This free event held at Microsoft Canada’s head office on June 20th, will provide businesses with information on the resources necessary to build and grow a collaborative and innovative partner network within the Peel region. Register today to find out how you can leverage and contact the various vendors that are right here in Peel. To read more on “Building and leveraging your ecosystem to spark innovation-based growth”, click here. Shamini is completing her final year at the University of Toronto Mississauga and is pursuing an undergraduate specialist degree in Business Administration and a major in Communication, Culture & Information Technology. Shamini is joining the RIC team this summer as a Communications Intern bringing with her a passion in marketing and various experiences in online marketing. The RIC blog is designed as a showcase for entrepreneurs and innovation. Our guest bloggers provide a wealth of information based on their personal and professional experiences. Visit RIC Centre for more information on how RIC can accelerate your ideas to market.