Topic modeling can help better understand the content of large collections of text. The objective of the research is to develop an approach to identify latent topics in the Technology Innovation Management Review journal (TIM Review) and how topics have evolved using the LDA (Latent Dirichlet Allocation) and DTM (Dynamic Topic Model) algorithms. We applied the two approaches to a collection of TIM Review articles published between 2007 and 2017. We also examined extracted topics, most associated articles, topic labeling, topic/theme trends, and word trends produced by both approaches and identified the value of each approach. According to the results obtained, we identified 47 topics and categorized them into ten themes: open source, entrepreneurship, innovations, living labs, social technology innovation, growth, co-creation, cybersecurity, research, and ecosystem. While some topic trends became prominent over time, others disappeared. The distribution of the articles across topics in the LDA approach has been made more decisively so that of 597 articles, 503 most associated articles were identified, while this number is 299 articles in DTM. Furthermore, we discussed weaknesses and strengths of the algorithms to compare the performance of the two approaches based on defined criteria. We conclude that DTM provides more accurate word and topic trends over time, although it requires time slice settings and has a longer run-time compared to LDA. Finally, we document a set the steps of a process to carry out topic modeling analysis.