Unravelling public and private interactions in the development of ‘new industries’—A review and research agenda

Abstract In recent times, disruptive and technological innovations have accelerated the emergence and growth of new industries. Such developments have altered the dynamics of private and public interactions, leading to new forms of cross‐sector collaborations witnessed by the growing body of literature straddling many disciplines. Such multiple perspectives have resulted in a fragmented body of knowledge. Despite recent advances in the field of cross‐sector collaborations, scant attention has been given to understanding how public and private interactions contribute to new industries development. This study aims to synthesise knowledge on this topic, providing a holistic and multidimensional view of how public and private interactions have been and can be designed to assist the development of new industries. Specifically, this review addresses three questions: (1) How have public and private actors been interacting to develop new industries? (2) What factors facilitate and hinder these public and private interactions? (3) How have public and private interactions addressed the unique challenges of new industries? This study deepens our understanding of public and private interactions in new industry emergence and development by proposing a conceptual framework, unifying the fragmented perspectives across the literature thereby providing a theoretical premise to guide future research, policy and practice.