Using various data derived from the regional innovation projects in the IT and BT-sectors within Chungbuk Province, this study tries to observe formation processes of network connecting structure and their spill-over effects. Considering the dynamic nature of key issues, it applies both social network analysis and causal loop methods. After a series of simulation exercises, we find that so-called extroverted regional innovation projects, that is, ones financially supported by the central government, reveal a higher tendency in the centrality, heavily depending on a handful of well reputed organizations. It is quite similar to the reinforcing mechanism, resulting in the rich-get-richer and the poor-get-poorer. Compared with the existing documents, nonetheless, it shows relatively weak in the mechanism strength, implying the fact that regional innovation projects have significantly contributed to ameliorating the unequal distribution of innovation organizations within Chungbuk Province. On the other hand, this study concludes that all the brokerage organizations related to the regional innovation projects have settled in Chungbuk Province. Whereas the Capital Region-based organizations present a higher tendency in the knowledge-network, it seems that the regional innovation projects have significantly contributed to upgrading direct and indirect competitiveness of the local organizations.