New business model creation through the triple helix of young entrepreneurs, SNSs, and smart devices

This paper clarifies the causal paths from complex dynamic interactions among young entrepreneurs, social networking sites (SNSs), and smart devices to new SNS-based business model (BM) creation. The empirical data are collected through interviews with 102 CEOs in Korean SNS-related venture companies. Using these data, we employ the triple helix model and business model concepts to analyse how the triple helix interactions influence BM innovation. Four types of new SNS-based BMs are identified and described. Our study finds that entrepreneurs should focus their attention on combining SNS resources with smart device characteristics, helping them create value in a profitable way. Also, our study provides policymakers and venture capitalists with a holistic view of BM innovation and enables them to make better decisions on investment and policy design.