01668nas a2200193   4500008003900000022001400039245005300053210005300106260004200159300001000201490000600211520111900217653003001336653002001366653001601386653001601402100002001418856003601438       2012                          d  a1927-032100aDesigning Viable Business Models for Living Labs0 aDesigning Viable Business Models for Living Labs  aOttawabTalent First Networkc09/2012  a19-240 v23 aOver 300 regions have integrated the concept of living labs into their economic development strategy since 2006, when the former Finnish Prime Minister Esko Aho launched the living lab innovation policy initiative during his term of European presidency. Despite motivating initial results, however, success cases of turning research into usable new products and services remain few and uncertainty remains on what living labs actually do and contribute. This practitioner-oriented article presents a business excellence model that shows processes of idea creation and team mobilization, new product development, user involvement, and entrepreneurship through which living labs deliver high-potential investment opportunities. Customers of living labs are identified as investors such as venture capitalists or industrial firms because living labs can generate revenue from them to create their own sustainable business model. The article concludes that living labs provide extensive support “lab” infrastructure and that it remains a formidable challenge to finance it, which calls for a more intensive debate.10abusiness excellence model10abusiness models10aco-creation10aliving labs1 aKatzy, Bernhard  uhttp://timreview.ca/article/604