Ecosystems represent new forms of value creation across company and industry boundaries. They are emerging in all industries and form the basis for the most valuable companies. Between 2015 and 2021, for example, 23% of all startups rated as "unicorns" (i.e., valued at more than $1 billion) had their business model significantly aligned with ecosystem value creation. At the same time, 22 of the S&P (Standard & Poor's.) Top 100 companies operated significantly in ecosystems, representing 40% of the S&P Top 100 market capitalization. Successful companies prove that both customers and companies benefit from ecosystems. The enormous potential for value creation is generating massive interest in this new way of doing business, but there is often a lack of common understanding about what ecosystems actually are and can do. An interdisciplinary team of researchers has therefore characterized the nature of ecosystems on the basis of three levels and a total of nine core properties:

Ecosystem Core

1. Shared purpose and vision
2. Co-creation between stakeholders
3. Modular, complementary solutions

Ecosystem relationships

1. Multilateral relationships
2. Autonomous actors
3. Information-based value creation

Ecosystem milieu

1. Shared values
2. Shared technological infrastructure
3. Network effects

Based on this classification, the research team provides concrete recommendations in the white paper for achieving sustainable competitive advantages in the technological, social and economic environment in ecosystems. Best practices from experienced managers from established industrial companies and digital startups illustrate how the core characteristics of ecosystems are put into practice.