The healthy evolution of an entrepreneurial ecosystem relies on the symbiotic relationships among its diverse internal actors. This study addresses a gap in entrepreneurial ecosystem research, which has predominantly focused on two-agent models, by constructing a tripartite symbiotic evolution model that incorporates entrepreneurial ventures, incubation chains, and customers. Based on the Logistic and Lotka-Volterra models, the research identifies the system’s equilibrium points and their stability conditions. Simulations reveal evolutionary paths from parasitism and commensalism to mutualism. A comparative case study of SenseTime (Shanghai, China) and Lanma Technology (Shanghai, China) validates these findings. The comparison shows that an influx of multiple agents, coupled with the core venture’s ability to strengthen key symbiotic coefficients, drives the ecosystem towards a dynamic multi-agent symbiosis in the post-optimization phase. Conversely, the failure to establish these robust reciprocal value flows leads to ecosystem fragility. The results indicate that: (1) Multi-agent entrepreneurial ecosystems are complex systems where symbiotic units form adaptive relationships for value creation, adhering to market laws. (2) The system’s equilibrium depends on symbiotic coefficients, leading to four modes—independent coexistence, parasitism, commensalism, and mutualism—with mutualism being the optimal state. (3) The contrasting cases further demonstrate that the evolution towards mutualism is not automatic but hinges on the core venture’s strategic agency in constructing and strengthening synergistic pathways with forward and backward linkages. This study provides a theoretical model for understanding the evolutionary mechanisms of entrepreneurial ecosystems and offers practical insights for optimizing ecosystem governance.
Qin et al. (2026) studied this question.