The Spatiotemporal Distribution Characteristics and Influencing Factors of Unicorn Companies and Gazelle Companies in Jiangsu Province

Xueyu Li, Lei Ye () and Huangwei Chen
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Xueyu Li: School of Geographic Science, Nantong University, Nantong 226007, China
Lei Ye: School of Geographic Science, Nantong University, Nantong 226007, China
Huangwei Chen: School of Geographic Science, Nantong University, Nantong 226007, China

Sustainability, 2024, vol. 16, issue 24, 1-28

Abstract: In recent years, Jiangsu Province has increasingly prioritized the coordinated regional development of innovation. Unicorn and gazelle companies, characterized by technological or business model innovation, serve as significant indicators of regional innovation capacity. Therefore, this study uses unicorn and gazelle companies recognized between 2020 and 2022 in Jiangsu Province as samples, employing ArcGIS and geographical detectors to investigate the spatial distribution characteristics and influencing factors of these companies, and to propose optimization strategies, with the aim of assessing the innovation landscape of Jiangsu Province. The key findings and conclusions are as follows: (1) over the past three years, the average nearest-neighbor distance decreased from 10.491 km to 1.706 km, indicating a significant spatial agglomeration; the peak core density of business clusters increased substantially, reflecting the growth in the number of companies as clustering deepened. (2) Unicorns and gazelles exhibit clear clustering characteristics. The standard deviation ellipse of unicorns is centered around Suzhou, while gazelles display a continuous distribution pattern in Southern and Central Jiangsu. (3) Geographical detector analysis reveals that the level of urban technological innovation is the most influential factor, with key determinants of distribution including total retail sales and patent grants. (4) To foster the development of unicorn and gazelle companies in Jiangsu, the government should focus on enhancing regional innovation capacity, ensuring the sustainable nurturing of innovative firms, and promoting the catalytic development of surrounding areas through core cities.

Keywords: unicorns; gazelles; Jiangsu Province; spatiotemporal distribution; geographic detector (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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