Abstract: Crowd Innovation Space (CIS) is transforming from "quantity" to "quality". How to correctly guide CIS for differentiated development has become the primary issue. However, existing researches ignore the diversity of the development model of CIS and fail to reveal the realization mechanism of value co-creation on the platform of CIS with multi-agent participation. This study presents the value co-creation mechanism of CIS with multi-agent participation based on the analysis framework of the platform' transaction and innovation dual attributes, which deepens the understanding of the classification of CIS. In this paper, three CISs with different platform attributes are adopted as case study objects. The detailed research findings include:(1) Based on two dimensions of the platform:transaction attributes and innovation attributes, CISs are classified into three types:service-oriented CIS, innovative CIS and hybrid CIS; (2) Operating entities, corporate tenants and customers are recognized as the main different participants in the value co-creation of CIS. Accordingly, three different relationship characteristics of CIS are presented, i.e. dual-unidirectional service, dual-bidirectional innovation and multiple ecological sharing. (3) Resource-integrating and interactive cooperation are key methods to achieve value co-creation for CIS. From the perspective of platform, value-creation paths of the three different types of CIS include one-way passive value co-creation, two-way interactive co-creation and shared collaborative value co-creation. This paper expands the research in the existing literature of CIS by clarifying the different value co-creation implementation mechanisms of CIS from the perspective of platform, providing a sound basis for the classification development of CIS.

Key words: crowd innovation space, value co-creation, platform organization, case study