Abstract:The findings from previous studies on dual network embeddedness may not fully apply to new ventures incubated in makerspaces. Therefore, it is essential to explore the impact of the size of dual network embeddedness on the innovation performance of these ventures within the makerspace incubation context. Based on the theory of Organizational Ambidexterity, this paper takes 178 new ventures incubated in makerspaces in the Pearl River Delta region in China as a sample, and the multiple regression analysis is adopted to examine the impacts of business network embeddedness size and supportive network embeddedness size on new ventures’ innovation performance. Also, the stepwise regression analysis is applied to test the mediating role of exploratory and exploitative innovations. The results find that both business network embeddedness size and supportive network embeddedness size have a significant inverted U-shaped relationship with innovation performance, in which exploratory innovation and exploitative innovation both play significant mediating roles. The mediating role of exploratory innovation is greater than that of exploitative innovation. Therefore, new ventures incubated in makerspaces should objectively recognize the pros and cons of dual network embeddedness, moderately control the size of dual network embeddedness, and maximize network embeddedness within one's capacity. Additionally, by building a network embeddedness risk identification mechanism for new ventures makerspaces can promptly remind these ventures to be vigilant against the negative impacts that may be led by over-embeddedness in incubation networks.