| Summary: | 博士 === 國立交通大學 === 科技管理研究所 === 95 === Venture capital industry in Taiwan has suffered serious difficulty in fundraising, investment and operation due to the internet bubble, IT industry’s slowing down growth, and global economic recession after 2001. On one hand this difficult situation also leads the industry environment to be getting more and more competitive, and on the other hand the industry also meets the challenge from economic globalization. So it’s necessary for venture capitalists in Taiwan to objectively review their strengths and weakness to adjust their strategies for the environmental changes and trends. However, few researches discuss about these subjects. Therefore, that causes this research’s motive to discuss VC industry on theoretical perspective, and then the trend and development of VC industry in Taiwan is selected as research subject.
This research is an exploratory research on the basis of grounded theory. In academic aspect, this research built up an industry-level strategic planning model on the basis of strategic management, strategic planning and industry analysis theories to suit VC industry’s dynamic environment. In this model, industry analysis theories are the basis of analysis of VC industry’s specific structure and features to deduce the development strategies of VC industry in Taiwan. In practice aspect, empirical study in solid scientific methodology is for testing, proving, analyzing and discussing the results from the theoretical deduction by Taiwan’s venture capitalists’ practical experiences. After such research process, this research proposes the general principles of development strategies of VC industry in Taiwan for venture capitalists’ reference in their strategic planning. In the process of grounded research, this research built up analysis database of actualities and expert experiences by in-depth literature study and expert interviews with 25 senior venture capitalists serves in 20 VC firms in Taiwan; In the process of empirical research, this research investigate 50 senior managers’ and experts’ actual experiences by questionnaires. They are distinguished results because always keeping low profile is venture capitalists’ characteristic.
This research concludes that “investing in innovative industry”, “Keeping on expanding in overseas markets”, “developing bridge value in transpacific region” and “expanding the scope of valuable services” are development strategies for VC industry in Taiwan. And this research also recommends the four groups of Taiwan’s venture capitalists the executive actions. The “Financial Subsidiary” should strengthen their internal group resources, proceed vertical integration or cooperate with “Independent” or “Associate”; the “Industry Subsidiary” should cooperate with “Independent” or “Associate” to seek resource complement; the “Independent” should keep on developing and deepening the differentially professional services, develop to “Associate” style and develop bridge value in transpacific region; as to the “Associate”, their most important development strategy should be going on deepening differentially professional and value-added services.
At last, this research also concludes four propositions of industry level strategic planning model based on the research results and findings from VC industry in Taiwan. They are “the premise of using industry level strategic planning model is that changes of industry environment should be the driving factors of organizational transformation”, “industry level strategic planning model is a model with strategic thinking in dynamic perspective”, “industry level strategic planning model is a multi-objective planning model”, and “industry level strategic planning model is suitable for value creation/information platform service industries”.
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