Harnessing Platforms for Innovation: Opportunities and Challenges

This editorial explores how platform-based strategies—both digital and nondigital—have become powerful enablers of innovation. Platforms like Amazon, Grab, and iOS connect users, reduce barriers to entry, and foster collaboration across ecosystems. With features like intermediation, network effects, and co-creation, platforms enable faster, more diverse innovation. However, challenges vary by firm size: large firms face legacy constraints, mid-sized firms struggle with scale, and small firms risk dependency. As technologies like AI and blockchain evolve, understanding platform-based innovation is more essential than ever for staying competitive.