台灣一般創投公司與企業創投競合關係之研究

Abstract

本研究探討台灣一般創業投資公司（VC）和企業創投（CVC）之間的競合關係，以了解這些組織之間的關係發展、競爭策略和合作機會。創投產業為台灣科技產業與新創企業成長的重要推手，本研究希望能夠了解創投產業的核心競爭力因素，並透過研究VC與CVC之間的競合關係，分析創投產業發展競合策略的優勢和關鍵成功因素，作為未來研究與策略建議的理論基礎。本研究使用文獻回顧法和半結構式訪談法，分析VC和CVC之間共同的競爭力因素以及其相異之處，包括組織架構、投資目標和經營策略；並且利用實際個案研究VC與CVC之間複雜的競合關係，從創投活動的各階段進行分析，發現VC和CVC之間可以通過各種競合策略創造優勢，並且分析了發展成功的競合關係之關鍵因素，包括產業特性、市場環境、組織文化，以及VC和CVC本身特點等。最後，針對台灣創投產業中VC和CVC在競合關係中所面臨的挑戰與問題，研究建議通過建立有效溝通、互信網絡關係和發展長期共同目標，建構產業平台與生態系，以有效地管理VC與CVC之間的競合關係，為台灣創投產業帶來更多機會。

This study explores the coopetition relationship between general venture capital (VC) firms and corporate venture capital (CVC) in Taiwan, aiming to understand the dynamics, competitive strategies, and cooperative opportunities among these organizations. The venture capital industry plays a vital role in driving the growth of Taiwan's technology industry and startups. This research seeks to identify the key competitive factors in the venture capital industry and analyze the advantages and critical success factors of coopetition strategies through the study of VC-CVC relationships. The findings serve as a theoretical foundation for future research and strategic recommendations. This study utilizes a literature review approach and semi-structured interviews to analyze the common and distinct competitive factors between VC and CVC, including organizational structure, investment objectives, and operational strategies. Additionally, in-depth case studies are conducted to examine the complex coopetition relationship between VC and CVC throughout various stages of venture activities. The analysis identifies various coopetition strategies that create advantages between VC and CVC and explores key factors for successful coopetition, such as industry characteristics, market environment, organizational culture, and characteristics inherent to VC and CVC. In conclusion, this research highlights the challenges and issues faced by VC and CVC in their coopetition relationship within the Taiwanese venture capital industry. The study suggests the establishment of effective communication, trust networks, and the development of long-term shared objectives to foster industry platforms and ecosystems. These recommendations aim to effectively manage the coopetition relationship between VC and CVC, creating more opportunities within Taiwan's venture capital industry.