The study is designed to review existing research related to the health tech sector and healthtech innovation ecosystems. The objective is to integrate insights, discussions, and recommendations from these studies to inform the development of a robust conceptual framework specifically for health tech innovation ecosystem governance in Latvia. This framework aims to address the unique challenges and leverage the opportunities within the Latvian context by aligning stakeholder strategies, enhancing governance structures, and fostering a conducive environment for sustainable innovation. By critically analyzing current literature across related fields—health tech, med tech, pharma tech, and biotech—the research identifies the best practices and pinpoints gaps in the existing governance mechanisms. The ultimate goal is to utilize this comprehensive review as a basis to advise and construct a tailored governance framework that not only meets the contemporary demands of rapid technological and business developments but also accommodates diverse stakeholder interests within the Latvian health tech sector.