本研究以Osterwalder & Pigneur 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,分析此二者為什麼可以成為籌資管道,以及在商業模式上兩者有何相似或相異之處。以美國及台灣企業:Y Combinator、Techstars、500 Startups、之初創投、台灣創意工場、台大車庫、Kickstarter、Indiegogo、flying V、嘖嘖等兩大類型共十家標竿企業做為個案,進行個案分析。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。
Using the business model theory proposed by Osterwalder & Pigneur, 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. Ten leading companies are chosen as the cases to be studied, which include Y Combinator、Techstars、500 Startups、AppWorks、TMI、NTU Garage、Kickstarter、Indiegogo、Flying V、Zeczec. The results show that they both function successfully as an intermediary platform in serving two complementary customer segments, entrepreneurs and investors. They differ in their networking instruments and target industries. Accelerates 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.