The value creation and governance of ecology system in creative park: The case of Taiwan

Value creation is a central concept and important issue in the creative and culture industry. It refers both to the content and process of the recombination of resources including tangible and intangible assets. The main question is how the value be captured. We consider that there is a value ecology system which emerges from the development of a success creative park(or any kind of creative space). The purpose of this paper is to explore the concept of creative ecology system from an integrated perspective. We identify four key factors: territorial capital, innovation milieu, value-network, innovation space which matters to the development of creative ecology system. We use the case-Huashan1914 Creative Park which has two phases of development to illustrate the emergence process of value ecology. And we discuss the interaction of the factors which leads to there kind of multiplier effects and may cause the difference of the governance model which depends on the main function the innovation space have.