["R&D Management, Volume 56, Issue 3, Page 530-550, June 2026. ", "\nABSTRACT\nWhile industrial internet platforms effectively coordinate physical assets, their capacity to manage human capital remains under‐theorized. To address this gap, this study introduces the concept of an industrial internet‐based shared talent ecosystem and investigates the central question: How do industrial internet platforms extend their orchestration capabilities to shape a shared talent ecosystem? Drawing on an in‐depth case study of COSMOPlat, we develop a four‐stage process model: (1) identifying talent pain points, (2) matching supply and demand, (3) establishing collaboration, and (4) stabilizing symbiosis. We find the collaboration stage is pivotal, where the platform builds a networked structure for talent selection, utilization, development, and retention through multi‐dimensional sharing models. This ensures that the unique social development needs of talent are met in the sharing process, which sets them apart from non‐human resources. This ecosystem then iterates by diffusing its established practices and transferring its model to new industries and regions. Theoretically, we advance platform orchestration theory by conceptualizing the platform as an institutional entrepreneur that manages human capital by addressing the tension between talent as a resource and as a social agent. For practice, our findings provide a roadmap for managers to build and sustain a symbiotic talent ecosystem.\n"]