Abstract:      Based on the cloud computing enterprise data from 2016 to 2019, this paper empirically examined the complex mechanism of collaboration between enterprises in multiple contexts. It was found that cloud computing enterprises in different stages present heterogeneity under multiple contexts. The results showed that the "core- peripheral" network relationship has a negative impact on the enterprises in the start-up stage. It is worth mentioning that for cloud computing enterprises during the survival period, the "core-periphery" network relationship has a positive impact. At the same time, this paper further discussed the moderating effect of the multi-market contact nature and the state-owned institutional nature on the relationship between them. It was found in the study that the market context can strengthen the positive impact during the survival period and weaken the negative impact during the growth period, and the institutional context can weaken the negative impact in the start-up stage and strengthen the positive impact during the survival period. Furthermore, the superposition of market context and institutional context can enhance the positive impact of survival. This study revealed the micro-process of SMEs from dependence on large enterprises to growth under multiple contexts, and provided strategic suggestions for win-win cooperation between enterprises in the digital era. It also provided the empirical basis and policy formula for China to use the two forces of promising government and effective market in stages, and then accurately release the China-style innovation dividend. It also provided some empirical basis and policy formula for exerting the power of promising government and effective market, and then following the Chinese-style innovation.

Key words: “core-peripheral” network relationship, disruptive technology, multiple contexts, Chinese-style innovation