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Dual Policy–Market Orchestration: New R&D Institutions Bridging Innovation and Entrepreneurship

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  • Yinhai Fang

    (College of Economics and Management, Nanjing Forestry University, Nanjing 210037, China
    School of Geography and Ocean Science, Nanjing University, Nanjing 210023, China)

  • Xinping Qiu

    (College of Economics and Management, Nanjing Forestry University, Nanjing 210037, China)

Abstract

This study investigates how new R&D institutions mediate policy–market disjunctures to foster integrated innovation and entrepreneurship ecosystems. Employing a longitudinal case analysis (2013–2023) of the Jiangsu Industrial Technology Research Institute (JITRI), we delineate a three-phase evolutionary process: (1) an initial government-dominated phase, stimulating foundational capability development through contract R&D; (2) a subsequent marketization phase, enabling systemic resource integration via co-creation centers and global networks; and (3) a culminating synergy phase, where policy–market alignment facilitates ecosystem optimization through crowdsourced R&D and cross-domain collaboration. Three core mechanisms underpin this adaptation: policy–market coupling (providing external momentum), endogenous capability development (absorption to innovation), and dynamic resource orchestration (acquisition to optimization). JITRI’s hybrid governance model demonstrates that stage-contingent interventions—specifically, policy anchoring in early stages followed by market-responsive resource allocation—effectively transmute inherent tensions into productive synergies. These findings yield implementable frameworks for structuring innovative ecosystems and underscore the necessity for comparative studies to establish broader theoretical generalizability.

Suggested Citation

  • Yinhai Fang & Xinping Qiu, 2025. "Dual Policy–Market Orchestration: New R&D Institutions Bridging Innovation and Entrepreneurship," Administrative Sciences, MDPI, vol. 15(8), pages 1-19, July.
    • Handle: RePEc:gam:jadmsc:v:15:y:2025:i:8:p:289-:d:1708828
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    References listed on IDEAS

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    2. Kathleen M. Eisenhardt & Jeffrey A. Martin, 2000. "Dynamic capabilities: what are they?," Strategic Management Journal, Wiley Blackwell, vol. 21(10‐11), pages 1105-1121, October.
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