This article examines open innovation approaches promoting the development of stakeholder-driven circular economy models. 

It describes key elements of open innovation and circular value cocreation,  utilises the findings from a systematic review to identify opportunities and challenges related to the open circular innovation paradigm, and presents theoretical implications and an action plan highlighting the importance of engaging in collaborative behaviour with stakeholders.

It emphasises a cocreation culture that encourages the sharing of resources, competencies and capabilities, while safeguarding organisations' IP. It finds that there is scope for practitioners to develop circular economy ecosystems that increase practitioners' bottom lines, while reducing their environmental impact.