As an important part of the national innovation and entrepreneurship support system， improving the value creation efficiency of the technology entrepreneurship incubation platform has important theoretical and practical significance for cultivating strategic emerging industries and realizing innovation-driven development strategies. Focusing on the core issue of “how does the technology entrepreneurship incubation platform realize the value creation process”， it conducted a multiple case study of grounded theory on four technology entrepreneurship incubation platforms， and based on the key link of “basic-logic-realization” to explore the value creation process and internal mechanism of the technology entrepreneurship incubation platform. The results shows that as the basic link of the value creation of the technology entrepreneurship incubation platform， the technology entrepreneurship incubation platform can not only help startups overcome internal new obstacles， but also fill the void of external investment in the industrialization of scientific and technological achievements， and promote value creation by continuously innovating the incubation mode and constructing a rich incubation ecosystem. Target selection and potential mining， advantageous network layout， acquisition and utilization of strategic resource are the origination， key and core of the inherent logic of the value creation of the technology entrepreneurship incubation platform， which belong to the initial starting stage， accelerated development stage and substantial advancement stage of the value creation process. The technology entrepreneurship incubation platform improves the breadth and depth of incubation by building the customized mechanism， integrated mechanism and functional mechanism in the inherent logical link of value creation， thereby realizing the multiple co-creation of technological value， commercial value and social value. It not only expands the existing incubation platform and value creation related theories， but also has important implications for technology entrepreneurship incubation platform and incubated enterprises in improving the efficiency of co-value creation.