The proliferation of service robots has stimulated innovation across industries. These autonomous, physically embodied, and adaptable robots engage in diverse interactions, from patient care to goods delivery and hospitality services. However, the deployment of increasingly capable service robots demands not only designing user–robot interactions, but also holistic innovation management that transcends organizational boundaries and involves various societal stakeholders. Our research draws on the emerging Public Value Theory to examine the types of service robots and the innovation ecosystems that harness the expertise of public and private stakeholders and produce Public Value. Based on literature and an illustrative case study, we conceptualize service robots along characteristics such as autonomy, aesthetics, assistive roles, and user interfaces, and introduce Service Robot-based Innovation as the ecosystem-enabled development and employment of such robots. The service robot's autonomy and ecosystem integration are key dimensions determining innovation management practices and Public Value creation. The illustrative case, centered on long-term care, dissects the integration of service robots across the micro (user), meso (organizational), and macro (societal) levels of the ecosystem. An ecosystem-as-structure approach identifies the roles and activities of stakeholders aligning around a shared value proposition of Public Value. A research agenda presents future opportunities within and across various ecosystem levels to advance scholarly understanding of Service Robot-based Innovation.