Abstract: Makerspace has become a typical incubation platform to support the innovation and entrepreneurship development of start-ups. However, the rapid expansion of makerspaces has also led to frequent negative news, so a more effective management mechanism is urgently needed to promote the development of makerspaces. The core firm-led makerspace relies on its own strong industrial resource advantages and reasonable and effective operation mechanism, exudes development vitality, and is favored by many new start-ups. Taking the core firm-led makerspace as the research object, the cooperative innovation evolutionary game model between the operator and entry-settled enterprises is established. The influence of the changes of the profit and cost parameters of both parties on the evolutionary stability strategy is analyzed, and then the influence of the reward and punishment mechanism and the game results are analyzed with numerical simulation methods. The results show that the cooperative innovation between makerspace operators and settled firms is mainly affected by the total cost, the operator supervision cost, the cost sharing ratio, the additional revenue and the additional revenue distribution ratio. The result also suggests that margin, loss, penalty and incentive have positive effects on the cooperative innovation behavior, which indicates that the reward and punishment mechanism can effectively solve the dilemma of value co-creation. It is of great guiding significance to explore the influencing factors of collaborative innovation in core firm-led makerspace for further promoting the high-quality development of China’s makerspace.

Key words: core firm-led makerspace; value co-creation; cooperative innovation; evolutionary game