Description:
Purpose: This paper offers a literature review and explores a business model innovation for platform business. It also suggests a practical tool, Platform Canvas, to support implementation activities. Design/Methodology/Approach: A literature review was conducted in fall 2016 that resulted in the tentative canvas approach, which was evaluated in seven real company cases. Findings: The study identified the eight most important characteristics of a platform business model innovation. To support the innovation and development of successful business models in a platform ecosystem, the Platform Canvas tool was created. With guiding questions, Platform Canvas allows for an ecosystemic approach to business model innovation: it helps to understand the value creation and capture for multiple actors. Originality/Value: The unique result is a practical tool, Platform Canvas, which facilitates business model creation in platform ecosystems.