Despite the presence of a regional innovation system, the gross value added attributed to tourism in the Swiss region of Valais is declining. Innovation policies fostering private initi-atives and collaboration between companies, researchers, and coaching services have been reinforced recently, and policy instruments are in place to support strategic indus-tries. However, no incitement instrument is dedicated to supporting the co-creation and the creation of shared value through local actors. This article presents a co-creation pro-cess of shared value and the lessons learned while implementing a new mode of innova-tion and entrepreneurship in two case studies in the peripheral region of Valais, Switzerland. The aim of the process is the co-creation of shared value-based business mod-els, with an emphasis on the use of crowdsourcing to find new ways to create shared value.