Abstract
Entrepreneurial ecosystems increasingly rely on intermediary organisations such as incubators to coordinate resources and sustain venture development. As digital transformation intensifies cross-border collaboration and shared infrastructures, incubators become structurally interconnected while continuing to compete for startups and institutional legitimacy. This study examines how ecosystem intermediaries sustain coopetition under simultaneous competition for entrepreneurial ventures and symbolic recognition in digitally transforming contexts. Drawing on a qualitative case study of ongoing collaboration between two Nordic incubators operating in overlapping health and digital innovation domains, the analysis identifies three governance mechanisms that stabilise coopetition: explicit recognition of competition, diplomatic boundary management, and institutional framing aligned with ecosystem-level mandates. The findings suggest that coopetition among intermediaries is not merely a strategic choice, but an institutionalised governance condition embedded within entrepreneurial ecosystems. By shifting the unit of analysis from firms to intermediary organisations, the study advances coopetition and ecosystem governance research and highlights how layered coordination practices enable ecosystem resilience while preserving organisational autonomy.