The research of the knowledge interactive relationship between venture capitalist and technology industries

• Main Authors: Huang, Chun-Chieh, 黃俊傑
• Other Authors: Lee, Jen-Fang
• Format: Others
• Language: zh-TW
• Published: 2002
• Online Access: http://ndltd.ncl.edu.tw/handle/99238299545077898231

碩士 === 國立政治大學 === 經營管理碩士學程 === 90 === The research of the knowledge interactive relationship between venture capitalist and technology industries Advisor：Dr. Lee, Jen-Fang Author：Huang, Chun-Chieh ABSTRACT The objectives of this thesis intend to explore the knowledge interactive relationship between the venture capitalist and technology industries as well as the key success factors (KSFs) to initiate the interactive basis. Based on the knowledge interactive relationship , this study presents : the roles and functions of the venture capitalist during different business stages, the added-value that the venture capitalist provided, the key factors influencing the interactive relationship, and the changes in technology and innovation as influenced by the venture capitalist. The key success factors initiating the interactive relationship between the venture capitalist and technology industries are the technology company’s demand in knowledge and resources as well as the knowledge and resources that the venture capitalist can provided. This study was conducted by using case study methodology covering four samples of high-tech companies and two venture capitalists. The results of this study are as follows: 1. During the seed and start-up stages of technological companies, the venture capitalist acts as the promoter and start-up consultant. 2. During the growth and development stages of technological companies, the venture capitalist acts as the resource-provider and coordinator. 3. During the late stage of technological companies, the venture capitalist acts as the IPO promoter. 4. During the re-orgnization stage of technological companies, the venture capitalist acts as the re-structurer. 5. The industrial network of the venture capitalist will influence the company’s investment performance. 6. The investment amount will influence the knowledge interactive intensive of the venture capitalist. 7. The venture capitalist only affords capital but without knowledge have been worked difficult. Only the venture capitalists with smart-money and value-added will have development space. 8. The venture capitalist leads the capital efficiency and the technical companies lead the technology innovation. Both of them promote the development of economics. 9. Start-up new companies with innovative technologies to purchase excellent financial reward are the motive factor of technology development. 10. The venture capitalists with technical background will more actively promote the innovative technologies start-up. The venture capitalists with financial background will focus on the management of the investee. 11. The diversity of technology innovation builds up the development space basis of the venture capitalists. 12. The modularization of the technical innovation and business management is the key factor in pushing the knowledge interactive between technical companies and venture capitalists. 13. The industrial network and management knowledge contributions of the venture capitalists are more than the contributions of the capital benefit. 14. The more amorphous of the industry, the more knowledge interactive activities between the technical companies and the venture capitalists. 15. The more technical-oriented companies, the less knowledge interactive activities between the technical companies and the venture capitalists.