This paper motivates, describes, demonstrates in use, and evaluates the Open Models Laboratory (OMiLAB) - an open digital ecosystem designed to support conceptualization and operationalization of conceptual modeling methods. The OMiLAB ecosystem is motivated by a generalized understanding of "model value" and is targeted to research and education stakeholders fulfilling various roles in a modeling method's lifecycle - modelers, domain experts, methodologists, modeling software developers, knowledge workers, model-driven software engineers etc. While much is reported on novel modeling methods and tools for various domains, only limited knowledge is available on the conceptualization of such methods by means of a full-fledged dedicated open ecosystem and a methodology that facilitates entry points for novices, as well as an open innovation space for experienced stakeholders. This gap is maintained by the lack of an open process and platform for (a) conducting research in the field of modeling method design, (b) developing agile modeling tools and model-driven digital products, and (c) experimentation with, and dissemination of such methods & related prototypes. OMiLAB incorporates principles, practices, procedures, tools and services required to address the forecited issues, as it aims to be the operational deployment for a conceptualization and operationalization process built on several pillars: (a) a granularly defined "Modeling Method" concept whose building blocks can be customized for the domain of choice; (b) an "Agile Modeling Method Engineering" framework supporting quick prototyping of modeling tools; (c) a model-aware “Digital Product Design Lab”; and (d) dissemination channels for reaching a global community. Demonstration and evaluation of the OMiLAB in research is hereby carried out by two selected application cases for domains- and case-specific requirements: the iStar case for requirements engineering, and the EnterKnow case for semantic business process management systems. These two cases show the broad spectrum of modeling methods realized within the OMiLAB, ranging from conventional conceptual modeling methods (iStar) toward the model-aware development and operationalization of Digital Products (EnterKnow). Besides these exemplary cases, OMiLAB has proven to effectively satisfy requirements raised by almost 50 modeling methods, supporting researchers in designing novel modeling methods, developing tools and disseminating outcomes. The educational impact of the OMiLAB is also measured in terms of international visibility and feedback from the NEMO Summer School series, whose attendants directly interact with both the physical and virtual environments of the OMiLAB.

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