Mimetic Mapping and Genealogy of Co-Creation of Value in FinTech Startups

The aim of this research was to examine the mimetic mapping and genealogy of co-creation of value and how this concept has evolved and spread through various channels and contexts. This is a qualitative study. Mimetic mapping is a method used to discover and categorize memes within a multi-level model. Inspired by the concept of genes in evolutionary biology, it was developed as a method for analyzing and describing replicable patterns. Using mimetic mapping, a comprehensive description and representation of the co-creation of value in FinTech startups were obtained. Following this, a Foucaultian genealogy approach was employed to analyze the subject. Therefore, this study is analytical-applied and utilized documentary and content analysis methods, with purposeful sampling being the basis for selecting and analyzing the documents. By coding texts from books, articles, and documents in the field of co-creation of value, 119 memes were extracted and reduced to 46 meme-couples (larger units consisting of several related memes). These meme-couples were placed across seven levels: user experience; organizational structure and processes; social, cultural, and environmental factors; networking and inter-organizational collaboration; technological and digital infrastructure; changing customer needs and preferences; and competition and market interactions. Then, to understand how the co-creation of value in FinTech startups has developed historically, the genealogy method was employed. The genealogical approach served as both a theoretical framework and method that views the phenomenon of co-creation of value through a historical lens. In the present research, using the genealogical method, three distinct periods were identified: the first period—co-creation of value focused on products and services; the second period—co-creation of value focused on customer orientation; and the third period—co-creation of value focused on new technologies and virtual networks. In this study, the researchers were able to operationalize the theoretical concept of a meme and apply it in an empirical study. Mimetic mapping is a powerful tool for managers, consultants, and researchers in exploring the phenomenon of co-creation of value in FinTech startups.