AEMPS

Analyzing the Supportive Role of Regional Innovation Ecosystems in the Growth of Technology Startups—A Case Study of Hangzhou's Six Small Dragons

Author

Ruihan Zhang * 1

1 University of Leeds

Corresponding Author

Ruihan Zhang

Keywords

Regional innovation ecosystem, Technology startups, Hangzhou

Abstract

This paper explores how regional innovation ecosystems support the growth of technology startups, using Hangzhou's "Six Little Dragons" as a case study. Drawing on innovation ecosystem theory, regional innovation systems, and new trade theory, the study analyzes how talent, capital, and industrial coordination jointly shape firm development. The paper identifies three key mechanisms: sustained talent attraction and knowledge spillovers anchored in universities and research institutions; a full-lifecycle financial support system characterized by a "patient government" and patient capital that mitigates early-stage market failures; and industrial chain coordination combined with scenario-based innovation that accelerates technology validation and market entry. The findings suggest that the success of Hangzhou's technology firms stems from systematic ecosystem interactions rather than isolated firm-level advantages, offering policy-relevant insights for enhancing regional innovation capacity in other cities.

Citation

Ruihan Zhang. Analyzing the Supportive Role of Regional Innovation Ecosystems in the Growth of Technology Startups—A Case Study of Hangzhou's Six Small Dragons. AEMPS (2026) Vol. 253: 15-22. DOI: 10.54254/2754-1169/2026.NJ32105.

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