美台育成加速器與群眾募資平台商業模式比較研究

育成加速器及群眾募資平台這兩種籌資管道的商業模式，是由科技創新邁向內外部創業間的重要關鍵，然而國內目前尚無兩者的相關比較研究。本研究以Osterwalder and Pigneur（2010）所提出之商業模式理論來探討育成加速器及群眾募資平台內部營運之脈絡，分析此二者為什麼都可以成為創業準備階段的重要協助力量，以及在商業模式上兩者有何相似或相異之處。美國及台灣的育成加速器及群眾募資平台各選擇一家標竿企業做為分析個案，即:Y Combinator（美）、之初創投（台）、Kickstarter（美）、flying V（台）。研究發現他們都扮演中介角色，鎖定創業初期籌資者及具資金且有投資意願者這兩個相互依存的客層，透過舉辦活動營造媒合之契機，同時滿足雙方籌資及投資需求。兩者不同之處在於育成加速器主要以人際網絡鏈結雙方及提供育成輔導協助網路領域新創團隊。群眾募資平台則主要以網路平台鏈結雙方及提供專案設計教學協助文化娛樂產業創業者。

關鍵字

商業模式；育成加速器；群眾募資平台

並列摘要

Business Models of startup accelerators and crowdfunding platforms are critical paths between technical innovation and startup entrepreneurship. Using the business model theory proposed by Osterwalder and Pigneur (2010), this study explores how similarly and how differently startup accelerators and crowdfunding platforms operate, as well as why they have become the major funding sources for entrepreneurs. Four leading companies are chosen as the cases to be studied, which include Y Combinator (U.S.)、AppWorks (Taiwan)、Kickstarter (U.S.)、Flying V (Taiwan). The results show that they both function successfully as intermediary platforms in serving two complementary customer segments, entrepreneurs and investors. They differ in their networking instruments and target industries. Accelerators rely majorly on human networks to nurture new ventures in the internet industry. Crowdfunding platforms rely majorly on internet networks to promote new ventures in the art & entertainment industry.