Abstract:The healthy evolution of the enterprise innovation ecosystem is an inherent requirement for building an innovative country. Exploring the influencing factors and internal mechanisms of the enterprise innovation ecosystem evolution is beneficial to promote the healthy evolution of the enterprise innovation ecosystem. Based on the grounded theory analysis of the interview data of ten hub enterprises which established innovation ecosystem, a model of factors affecting the evolution of enterprise innovation ecosystems is constructed, which includes four main categories, namely absorptive capacity, inter-organizational trust, network embeddedness, and environmental munificence and ten corresponding sub-categories. The results show that the four main categories of absorptive capacity (acquiring and assimilating external knowledge, transforming and exploiting external knowledge, R D investment), inter-organizational trust(inter-organizational trust), network embeddedness (relationship embeddedness, network centrality) and environmental munificence (infrastructure support, availability of supporting suppliers, talent support, policy support) have significant impacts on the evolution of the enterprise innovation ecosystem. Absorptive capacity is the internal driving factor, inter-organizational trust is the micro-situational factor, network embeddedness is the meso-situational factor, and environmental munificence is the macro-situational factor. The ways and paths they affect the evolution of an enterprise innovation ecosystem are not consistent. The research conclusions have reference significance for the construction and practice of enterprise innovation ecosystem.