Unlocking technological innovation performance in megaprojects: the interplay of innovation ecosystem characteristics, value co-creation and network innovation capability

Purpose This study aims to explore how innovation ecosystem characteristics (actor heterogeneity, relational embeddedness and organizational interdependence) impact technological innovation performance in megaprojects. It focuses on the roles of value co-creation and network innovation capability, aiming to uncover the mechanisms driving innovation in complex project environments. Design/methodology/approach A quantitative approach is employed, using survey data from megaproject stakeholders. Structural equation modeling analyzes the relationships between ecosystem characteristics, value co-creation, network innovation capability and innovation performance. Findings Value co-creation significantly enhances technological innovation performance, while network innovation capability partially mediates this relationship. Actor heterogeneity has no direct effect, but relational embeddedness and organizational interdependence indirectly influence performance through value co-creation and network innovation capability. Value co-creation emerges as the stronger driver of innovation outcomes. Originality/value This research integrates innovation ecosystem and network theories to reveal the critical role of value co-creation in megaproject innovation. It introduces network innovation capability as a mediator, emphasizing the importance of relational and organizational dynamics. The study offers practical insights for fostering collaboration and innovation in megaprojects, advancing both theoretical and practical understanding.