The growing importance of addressing challenges posed by the increasing scarcity of natural resources to ensure sustained economic development, minimise environmental impact and maximise social welfare has pushed the topic of circular economy on the strategic agenda of many companies. A system-wide innovation changing the whole processes of value creation requires dealing with numerous obstacles at both company and circular value chain level. Organisations that embrace collaboration with all partners in a product’s value cycle, and accelerate new technological innovations through an open innovation strategy, will facilitate the shifts towards a successful circular economy business ecosystem.