Abstract: From the perspective of the innovation value chain, this paper examines three stages (early-stage R&D innovation, mid-stage commercialization of research outcomes, and late-stage technology diffusion) to reveal the theoretical mechanisms through which institutional supply at different stages enhances the innovation quality of “specialized, sophisticated, distinctive, and innovative” (SSDI) enterprises. Furthermore, drawing on more than 180,000 manually collected policy documents and SSDI patent records, this study exploratorily employs a text-based configurational matching approach to investigate the complex effects of three types of innovation-oriented institutional supply on the innovation quality of SSDI enterprises. The findings are as follows: (1) Deepening institutional supply oriented toward the innovation value chain can effectively improve the innovation quality of SSDI enterprises, with the effect being particularly pronounced during the commercialization stage. (2) Promoting continuous innovation, facilitating profit realization, and alleviating risk-bearing pressures are effective channels through which institutional supply empowers high-quality innovation in SSDI enterprises. (3) Configuration effects indicate that China’s current institutional supply for high-quality innovation in SSDI enterprises has not yet formed a full-cycle, full-chain virtuous interaction; in particular, greater attention should be paid to enabling SSDI enterprises to achieve compatibility between maintaining specific technological advantages and accelerating the marketization of R&D outcomes. (4) Differentiated characteristics show that institutional supply exerts a more significant positive effect on innovation quality for SSDI enterprises with relatively weak innovation foundations, while, from the perspective of regional development levels, the impact of institutional supply exhibits a pronounced “Matthew effect.” These conclusions provide important insights for fostering new drivers of high-quality development in China through deepening reform of the science and technology system in the new era.

Key words: SSDI, institutional supply, innovation value chain, text analysis