The impact of regional incubation services on healthcare entrepreneurship: an ecosystemic business model view

Purpose Business incubation has gained popularity as a means of supporting startups in their establishment and survival. The healthcare industry is evolving and demands innovative products and services for health delivery. However, the healthcare industry is highly regulated, which means that regulatory compliance, testing and certification processes lead to long development cycles for health entrepreneurs, particularly in their early stages. Therefore, incubating health entrepreneurs requires an ecosystem that brings together stakeholders to provide resources and knowledge, rather than functioning as a standalone entity. This study employs an ecosystemic view of health incubators to understand their impact on health entrepreneurs. Design/methodology/approach This study uses a qualitative case study approach from the OYSTER regional incubator in Northern Finland. The study draws on multiple qualitative data sources. Observational data were collected during incubator activities, including seminars, training sessions, networking events and mentoring programs. A purposeful sampling method was used to select interviewees and panel participants based on their direct involvement in the incubation process. Data triangulation was conducted by cross-referencing observational data, interviews, secondary materials and panel discussions. The thematic analysis approach was used to systematically analyze data on business model aspects of value proposition, value creation and value capture. Findings The results indicate that the stakeholders involved in the incubation process include resource providers, complementors, users and incubator management. Value was created in the form of health-domain-specific knowledge, business training, networking within the regional health industry and service providers and opportunities for product and service testing. This value was captured through the achievement of milestones, which, at the individual, organizational and entrepreneurial ecosystem levels, contributed to the incubator's ecosystem value proposition, creating a circular process. This study emphasizes the importance of multi-stakeholder engagement in healthcare incubation, highlighting the need for well-oriented support systems, milestone-driven value creation and adaptive business models to enhance incubator effectiveness, accelerate startup growth and inform future research on ecosystem-driven incubation. Originality/value The methodological novelty lies in introducing the embeddness of the incubator in the ecosystem and viewing the impact through the business model lens. Our findings indicate three primary value dimensions: information value, service value and network value reflecting the unique healthcare business context and interactions observed in the study. Furthermore, we identify value capture emerges more subtly through progress markers and developmental achievements rather than measurable financial outputs.