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GAME THEORY AND BUSINESS SIMULATION GAME APPROACHES TO INNOVATION ECOSYSTEM ANALYSIS

This paper presents a new business simulation game designed with a goal to simulate the interaction of the main innovation ecosystem stakeholders (like government, universities, industries, investors, civil society, etc.). The game represents and simulates their interaction on a R&D (a venture project development) phase, a new project implementation phase, and a new product commercialization phase. Each of these phases is connected with risks and uncertainty modeled by this game as well. The paper describes theoretical, methodological and instrumental fundamentals of the game, its structure, rules, and scenario, as well as game players’ objectives, actions, payoffs, and outcomes.