Table: Theories on Innovation Ecosystems
Theory / Research
Sl.No Authors Title Year Country Citations Outcome Recommendations
Framework Objective
Identified a
Analyze the Suggest cautious
Venture Capital's slowdown in
impact of investment
Pitch Book Hopes of a 2025 Market Liquidity VC funding due
1 2025 USA N/A economic strategies and focus
Analysts Resurgence Have Theory to market
instability on on resilient sectors
All but 'Dimmed.' volatility and
VC funding like AI
global tariffs
Encourage policy
Introduced
Plans to Help support and
SME Listing Facilitate listing training and
Beijing Stock Smaller Tech diversified
2 2024 China N/A Support of small tech financial access
Exchange Companies to financial
Framework firms initiatives for
List instruments for
SMEs
SME growth
Evolution and Highlighted the
Recommend
Trends in Examine rise of
diversification of
Rao, P., Entrepreneurial Post-COVID changes in alternative
financing options
3 Kumar, S., & Finance: 2023 India N/A Entrepreneurial entrepreneurial financing
and supportive
Verma, S. Reflections and Finance Model finance post- methods like
regulatory
Insights from pandemic crowdfunding
frameworks
COVID-19 and ICOs
Building Found that
Innovative Compare startups benefit
Advocate for
Capacity in Regional innovation more from
region-specific
4 Fu, X. Regional 2023 China N/A Innovation strategies knowledge
policies to support
Entrepreneurship Capacity Model between startups spillovers and
startup innovation
and Innovation and incumbents agglomeration
Systems economies
5 Alvi, F.H., & Innovation 2023 Canada/Spain N/A Innovation Explore Proposed a Encourage tailored
Theory / Research
Sl.No Authors Title Year Country Citations Outcome Recommendations
Framework Objective
conceptual
Finance matching of model
Finance financing strategies
Ecosystems for entrepreneurial addressing
Ulich, K. Ecosystem considering firm
Entrepreneurial firms with sectoral and
Model stages and sectors
Firms finance sources temporal
dimensions
Start-Up
Ecosystem Identify Highlighted role
Ziakis, C.; StUpEco Promote
(StUpEco): A contextual of government,
Vlachopoulou, Framework stakeholder
6 Conceptual 2022 Greece 26 startup success funding,
M.; Petridis, (Quadruple collaboration and
Framework and factors in mentorship,
K. Helix) ecosystem policy
Empirical Greece education
Research
Identified Align regional
Entrepreneurial To critique
entrepreneurial policy with
Ecosystems and Entrepreneurial entrepreneurial
actors + ecosystem
7 Stam, E. Regional Policy: 2015 Netherlands 1,202 Ecosystem ecosystem
institutional conditions and
A Sympathetic Theory policy
infrastructure as entrepreneurial
Critique approaches
key culture
Innovation Explore Outlined roles
Support
Autio, E. & Ecosystems: Platform & management of orchestrators,
orchestrators and
8 Thomas, Implications for 2014 Finland/UK 458 Ecosystem strategies within complementors,
foster modular
L.D.W. Innovation Orchestration innovation and modular
ecosystems
Management ecosystems innovation
Entrepreneurial Examine Role of anchor
Entrepreneurial Create targeted
Mason, C.; Ecosystems and support systems firms and
9 2014 UK 324 Ecosystem policy for high-
Brown, R. Growth-Oriented for high-growth localized
Framework growth ventures
Entrepreneurship startups support
10 Ranga, M., & Triple Helix 2013 Global/USA 2,000 Triple Helix Propose the Highlighted Encourage hybrid
Theory / Research
Sl.No Authors Title Year Country Citations Outcome Recommendations
Framework Objective
Triple Helix
hybrid
model involving
Systems: An institutions and roles and policy
University-
Etzkowitz, H. Analytical Model overlapping support for cross-
Industry-
Framework collaboration sector innovation
Government
spheres
interactions
Investigate Addressed
Innovation Governments
Digital digital challenges in IP,
Ecosystems: should encourage
OECD Innovation innovation platform
11 OECD Meeting the 2013 – digital trust,
countries Ecosystem ecosystems in collaboration,
Challenges in the collaboration, and
Framework advanced and network
Digital Economy infrastructure
economies effects
Provide a Lack of
Oh, D-S., Innovation
Meta- critical review conceptual Need unified
Phillips, F., Ecosystems: A
12 2016 South Korea 563 Theoretical of innovation clarity, varying definitions and
Park, S., & Critical
Review ecosystem usage across evaluation metrics
Lee, E. Examination
literature fields
Innovations in
Examine SME Found Increase
New Venture
Arnab SME IPO IPO underpricing transparency and
13 Financing: 2017 India 17
Bhattacharya Financing Model performance in and liquidity investor trust in
Evidence from
India challenges SME markets
Indian SME IPOs
The Relational Study cultural
Relational Culture and Nurture social
Organization of and social
14 Spigel, B. 2017 Canada 800 Ecosystem networks drive capital and
Entrepreneurial attributes of
Model success ecosystem culture
Ecosystems ecosystems
15 Adner, R. Match your 2006 USA 3696 Innovation Explain how Introduced the Firms should assess
Innovation Alignment companies can concept of co- ecosystem
Strategy to your Framework succeed by innovation risk dependencies to
Theory / Research
Sl.No Authors Title Year Country Citations Outcome Recommendations
Framework Objective
aligning
Innovation innovation with and adoption
align strategies
Ecosystem ecosystem chain risk
strategy
Define the
Create supportive
Expanded innovation Emphasized
What is an environments with
Definition of ecosystem institutions,
16 Jackson, D. J. Innovation 2011 USA 700 university-industry-
Innovation concept and people, and
Ecosystem? government
Ecosystem differentiate capital flows
engagement
from clusters
Identify and Defined core
Components of Encourage
analyze key components:
Innovation Component- inclusive,
Mercan, B., & components of universities,
17 Ecosystems: A 2011 Turkey 247 based Ecosystem component-focused
Göktaş, D. innovation industry,
Cross-Country Model ecosystem
ecosystems government,
Study development
across countries finance
Validated
Introduce lean Use fast feedback
Lean Startup learning and
18 Eric Ries The Lean Startup 2011 USA N/A approach to cycles and iterative
Methodology MVP
startup building development
popularized
Carayannis, Expand Triple Media, culture, Engage public and
Quadruple and 4-Helix and 5-
E.G. & 2009– Helix model to and ecology environmental
19 Quintuple USA/Austria 1,000 Helix
Campbell, 2010 society and influence voices in
Innovation Helix Frameworks
D.F.J. environment innovation innovation
Found higher
Stock Exchange Analyze venture Develop niche
Carpentier, C. Venture Stock returns, active
20 Markets for New 2010 Canada 70 exchanges and stock markets for
et al. Market Theory listings in
Ventures their role startups
venture markets
21 Isenberg, D. The 2010 USA 1,500 Ecosystem Propose Highlighted Design integrated
Theory / Research
Sl.No Authors Title Year Country Citations Outcome Recommendations
Framework Objective
Entrepreneurship ecosystem system-wide
ecosystem policy
Ecosystem Strategy Theory approach to innovation
across sectors
Strategy entrepreneurship dependencies
Described
Keystone firms
Keystone Examine how keystone firms
should support
Iansiti, M. & The Keystone Strategy in dominant firms that stabilize
22 2004 USA 37 diverse and healthy
Levien, R. Advantage Business can shape and influence
ecosystem
Ecosystems ecosystems innovation
partnerships
communities
Financing Promote venture
Analyze global Found lack of
Innovative SMEs SME Financing networks and
23 OECD 2004 Multi-country Institutional SME financing early-stage
in a Global Models alternative finance
mechanisms capital
Economy models
Popular Strengthen
Bygrave, The Portable Introduce tools
Entrepreneurial framework in curricula for
24 W.D. & MBA in 2004 USA N/A and theory for
Process Model business aspiring
Zacharakis, A. Entrepreneurship entrepreneurship
education entrepreneurs
Assess how
Entrepreneurship, Found positive
Wong, P.K., Innovation- innovation Support R&D and
Innovation and correlation
25 Ho, Y.P., 2005 Singapore 800 Driven Growth impacts entrepreneurial
Economic between startups
Autio, E. Theory economic education policies
Growth and GDP
development
Integrate
Emphasizes
Define process entrepreneurial
Timmons, J.A. New Venture team,
26 2007 USA 836 Timmons Model of venture education with
& Spinelli, S. Creation opportunity, and
creation opportunity
resources
evaluation
27 Moore, J.F. Predators and 1993 USA 4266 Business Develop the Introduced idea Companies should
Prey: A New Ecosystem ecosystem of business as co-evolve and lead
Theory / Research
Sl.No Authors Title Year Country Citations Outcome Recommendations
Framework Objective
theory in evolving
Ecology of
Theory business ecological within ecosystems
Competition
innovation systems
VC follows
Examine stages Tailor VC policies
Gompers, P. The Venture VC Cycle structured
28 1999 USA 1950 of venture to each funding
& Lerner, J. Capital Cycle Theory investment life
capital financing stage
cycle
Encourage cluster-
Clusters and the Reaffirm value Networks foster
Extended Cluster based policy and
29 Porter, M.E. New Economics 1998 USA 24,443 of geographic productivity and
Theory public-private
of Competition clusters innovation
partnerships
The Competitive National Study national Developed Promote innovation
30 Porter, M.E. Advantage of 1990 USA 2,201 Competitive industrial cluster theory through specialized
Nations Advantage performance basis sectors
Entrepreneurship: Institutions Incentivize
Entrepreneurship Differentiate
Productive, shape the nature productive over
31 Baumol, W.J. 1990 USA 628 Allocation entrepreneurship
Unproductive, of rent-seeking
Theory types
and Destructive entrepreneurship entrepreneurship
Analyze Innovation Encourage
Capitalism, Creative
Schumpeter, capitalist disrupts and disruptive
32 Socialism and 1942 Austria 66 Destruction
J.A. innovation creates new innovation as
Democracy Theory
dynamics industries economic engine
