Purpose: This paper aims to develop a conceptual framework as a valuable investigative tool for future empirical studies examining stakeholders’ interactions within a high-performance computing (HPC) service ecosystem and identifying the enablers for better value co-creation under various service provisioning contexts. Design/methodology/approach: This conceptual paper follows a theory adaptation research design that systematically examines the literature on a substantive topic encompassing HPC technology adoption and usage by European small and medium-sized enterprises (SMEs). Furthermore, it introduces theoretical perspectives from service innovation research as its methodological approach (method theory) to develop a theoretical framework for value co-creation within an HPC service ecosystem. Findings: The conceptual framework presented in this paper identifies the critical resource elements of SMEs, which can potentially be integrated with other stakeholders’ resources and complement the limited internal resources of SMEs for enhanced value co-creation within an HPC service ecosystem. Research limitations/implications: The conceptualisation of an HPC service ecosystem and the potential of value co-creation through integrating stakeholders’ resources, presented in this paper, underscore further empirical research in this direction. Practical implications: Findings from this paper can inform European policymakers for regional development to frame regional strategies and policies that enable SMEs to better uptake HPC services. Service providers can revisit their business models to reconfigure their organisational resources for enhanced value proposition and co-creation. Social implications: This study advances the agenda of transformative service research that aims uplifting changes and societal well-being through a more inclusive and sustainable value co-creation among a wider set of stakeholders within the service ecosystem. Originality/value: The paper addresses an under-investigated research gap by examining SMEs’ adoption of HPC services and opportunities for higher value co-creation using a service ecosystem approach based on multi-actor interaction, collaboration and resource integration.