Business models of nanotechnology companies and value creation

The objective of the research is to identify the types of business models capable of creating value for the Canadian economy. Twenty-two founders of Canadian nanotechnology companies were interviewed. Subsequently, a statistical content analysis of the transcribed interviews was performed using Iramuteq software, followed by an interpretive analysis of the reports generated by the Iramuteq software. The results show that business models primarily based on opportunity identification do not promote value creation and capture by companies. We propose that for companies to effectively create and capture value, business models must (in addition to comprising opportunity identification activities) organize their activities in such a way that they generate virtuous circles and expansive spirals. Specifically, business models articulated in the form of an expansive spiral stimulate the economy through the multisectoral diffusion of nanotechnological products. The research results shed light on the processes and determinants of economic value creation in nanotechnology companies, enriching the model of leveraging enabling technologies proposed by Gambardella et al. (2021).