Five research themes of knowledge spillover theory of entrepreneurship: An analysis of 30 years of research

Abstract In the past 30 years, the Knowledge Spillover Theory of Entrepreneurship (KSTE) has emerged as a prominent explanation of how knowledge created by incumbent firms leads to knowledge commercialization and new firm formation. This study systematically reviews 130 key contributions and offers an understanding of the KSTE's role in shaping other fields of science. Our analysis identifies five distinct research themes influenced by KSTE, namely, open innovation, economic geography, knowledge transfer, academia, and international business. Moreover, these themes are interrelated and feature a range of prominent research fields, such as family business, knowledge transfer, innovation, knowledge management, and entrepreneurial ecosystems. Based on these literature themes, we develop a multi‐level approach for a more nuanced understanding of the KSTE. We then explain the interrelated nature of these themes and discuss future research directions.