What is Innovation 2.0

In this chapter we analyze business networks as a part of a multi-domain innovation ecology, which includes global production and innovation ecosystems, institutional network facilitators, and local communities and users. Their interplay is a reflection of the reconfiguration of inter-sectoral relations, in which business, government, and citizens may produce collaborative synergies and, thus, contribute to growth, competitiveness, and social development. Web 2.0 is not a panacea, nor does it bring benefits automatically. On the contrary, companies need to be sensitive to the network logic and partners’ orientations in order to maximize the innovation potential of global innovation networks facilitated by social network sites and other Web 2.0 tools and services.