To assess the dynamical effects of creative interaction networks on team creativity evolution, this paper elaborates a theoretical framework that links the key elements of creative interaction networks, including node, edge and network structure, to creativity in teams. The process of team creativity evolution is divided into four phases, including formation, growth, maturity and decline/restart. The importance of domain‐relevant knowledge, creativity‐relevant skill, interaction frequency, interaction length, network density and closeness centrality are emphasized in specific phases of team creativity evolution in a complex creative context. To test our assumptions, a longitudinal study of creative teams in a “Challenge Cup” Creative Business Plan Competition for university students is performed and the full networks of 17 creative entrepreneur teams are mapped. Both static comparison and dynamic analysis are conducted to analyze the relationship between creative interaction networks and team creativity evolution. For specific phases of team creativity evolution, we find confirmation of our predictions. The implications of dynamic creative interaction networks for all the phases of creative teams from formation to decline/restart are discussed.