創業沒有一個可以仿照的成功模式。創業家想要在未知的市場環境中生存除了要有強烈的企圖心與毅力，更要有不怕失敗的決心。新創企業在台灣的存活率確實不高。創業並不適合每一個人，只有極少數人才能成功。但也有少數連續創業家，有超過一次成功的創業經驗。創辦人的人格特質、個人背景與心理因素對於創業成敗影響至鉅。本研究以串雲科技為研究對象，該企業歷經過多次的公司改組、投資人的異動，以及產品市場的變動。本研究除了透過創業家本身的觀點之外，也試著去瞭解利害關係人（投資人、新創團隊成員）投入新創，互動與經營及創業歷程，來探討關鍵的成功因素。

本研究是採用質性研究當中搜集資料的深入訪談法；訪談人以及受訪者透過面對面的交談來收集資訊。藉由訪談可以得知受訪者的態度、想法、動機、作法和意見，訪談人也能從中獲取所需的重要資訊。

本研究結果顯示，創辦人的心智、人格特質與團隊成員的確會影響投資人的信心及投資意願。創辦人因為大公司的「官僚制度」，導致無法發揮其創新能力，因而選擇創業這條路。台灣的新創企業面臨資本市場不友善、籌措資金不易、不合時宜的法規、投資人太過保守及重視短期獲利能力等外部環境因素，進而導致大多新創企業的失敗。成功的創業家不僅在創業過程中獲得滿足感與成就感，他們更在乎的是創業所創造出來的貢獻意義。團隊成員因能產生比較高的工作意義、工作自主性以及工作責任感使得他們願意投入新創企業。投資人最看重的則是創辦人以及關鍵成員。

There is no replicable model to follow for starting a successful business. Entrepreneurs must have strong ambition and perseverance and not fear failure to survive in a fast-changing market environment. The survival rate of start-ups in Taiwan is indeed not high. Less than 1% of start-ups remain in business after five years of operations. Only a small number of people succeed. However, a few entrepreneurs have had more than one experience of starting a successful business. The personality, personal background, and psychological factors of the entrepreneurs have a significant impact on the success of the company. This study focuses on Tracmo Inc., which has undergone several corporate restructurings, investor changes, and product market changes. In addition to the founders' perspectives, this study also tries to understand the critical success factors by understanding the stakeholders (investors, team members of start-ups) involved in the start-up, their interactions and management, and their entrepreneurial experiences.

This study adopts the in-depth interview method of data collection in qualitative research, by which the interviewer and interviewees gathered information through face-to-face conversations. The interviews provided insight into the interviewees' attitudes, thoughts, motivations, practices, and opinions. The interviewer gained important information from these interviews.

The results show that the entrepreneurs' mindset, personality, and key members of the start-up do influence investors’ confidence and willingness to invest. Entrepreneurs choose to start their businesses because the "bureaucracy" of large companies makes it impossible for them to develop their innovations. Start-ups in Taiwan face an unfriendly capital market, difficulty in fundraising, outdated regulations, conservative investors, and over-focus on short-term profitability, all of which lead to the failure of most start-ups. Successful entrepreneurs not only gain satisfaction and accomplishment from the process of starting a business, they care more about the significance of the contribution created by the business they founded. Team members are willing to engage because the job brings them a higher work meaning, a more free working environment, and more responsibility. What investors consider most are the entrepreneurs and the key members.

第一章 緒論 1
第二章 文獻探討 3
第一節 新創事業資金來源及其利害關係人 3
第二節 新創事業法令環境 11
第三節 創業團隊 18
第四節 創業家個人探討 23
第三章 研究方法 31
第四章 研究結果 39
第五章 結論與建議 55
文獻探討 63 

文崇一、楊國樞（2000），社會及行為科學研究法下冊訪問調查法。台北：臺灣東華書局股份有限公司。
王慧伶（2003），我國創業投資公司之績效評估。銘傳大學國際企業系碩士班碩士學位論文。
王本賢（2002），工作特性模式與工作滿足關係之研究：以某國立大學職員為研究對象。中山大學人力資源管理研究所碩士論文。
田軒、孟清揚（2018），股權激勵計畫能促進企業創新嗎。南開管理評論：3，176-190。
伍忠賢（1997），創業成真。台北：遠流出版事業股份有限公司。
李芳齡、李田樹譯（2004），創新者的解答。台北：天下雜誌股份有限公司。
李婷（2011），政府政策、創業教育及社會資本對創業意圖之影響：以創業態度為中介變項。國立高雄應用科技大學企業管理系碩士學位論文。
李博（2017），2016年深市公司股權激勵與員工持股計畫情況分析。證券市場導報，12 月。
宋瑞惠（2014），天使投資評估準則實證研究：以台安傑天使投資為例。國立政治大學商學院經營管理碩士學程碩士學位論文。
沈怡臻（2009），影響社會企業關係網絡和經營績效因素之研究：以社會企業創業家為例。天主教輔仁大學管理學研究所碩士學位論文。
周瑛琪、陳春富、顏如妙、陳意文（2013），創業管理。新北市：普林斯頓國際有限公司。
林南（2001），社會資本：爭鳴的範式和實證的檢驗。香港社會學學報，2，1-38。
林金定、嚴嘉楓、陳美花（2005），質性研究方法：訪談模式與實施步驟分析。身心障礙研究，3，122-136。
邱昌泰（2000），公共政策：基礎篇。台北：巨流圖書公司。
袁方編（2002），社會研究方法。台北：五南圖書出版股份有限公司。
高義芳、沈怡臻（2009），社會企業創業家其人格特質、創業動機、個人能力與關係網絡之研究：以個案為例。創業管理研究，4，29-55。
陳弘旻（2016），創業投資聖經：Startup募資、天使投資人、投資契約、談判策略全方位教戰法則。台北：野人文化股份有限公司。
陳明璋（1987），企業家與創業精神。策略管理學術研討會論文。
郭洮村（1998），工研院研發人員離職創業相關因素之研究。國立中央大學企業管理研究所碩士論文。
黃光玉、劉念夏、陳清文（2004），社會研究方法。台北：五南圖書出版股份有限公司。
葉千禎（2009），影響女性創業意圖因素之研究：以社會網絡為中介變數。國立高雄應用科技大學企業管理研究所碩士論文。
劉常勇（1997），創業投資評估決策程序。會計研究月刊。
劉曼紅（2009），創業投資聖經：天使投資理論與實踐。北京：經濟管理出版社。
劉宜瑾（2013），部落格使用者開始與持續撰寫商品評論動機之初探：從社會交換理論觀點。國立臺北大學企業管理學系碩士論文。
劉常勇、謝如梅（2017），創業學：創業家、機會與環境視角。台北：智勝文化事業有限公司。
鄭惠方（2019），艾蜜莉會計師的10堂創業必修課。台北：時報文化出版企業股份有限公司。
蔡淑梨（2003），企業成長對人際網絡與資源取得關係之研究。中華家政學刊。
賴宏誌（2003），網絡關係對新創企業發展影響之研究：以台灣高科技公司為例。國立政治大學企業管理學系博士論文。
戴士嫻（2006），創業家個人特質與社會網絡關連之探討。臺灣大學商學研究所碩士論文。
羅宗敏、王俊人、許雄傑（2007），創業者人格特質對創業績效影響之研究：關係網絡之中介效果。創業管理研究，2，57-88。
Adler, P. S., & Kwon, & Seok-Woo, & E. L. Lesser. (2000). Knowledge and Social Capital. Ma: Butterworth-Heine.
Allport, G. W. (1963). Pattern and growth in personality, New York: Holt, Rinehart & Winston.
Aydogan, N. (2003). Individual Social Capital and Access to Venture Capital: Case of Indian IT Regions Submitted to METEOR for the Small-Scale Research Grant Competition.
Bandura, A. (1982). Self-efficacy: Mechanism in human agency. American Psychologist, 37, 122-147.
Benjamin, G., & Philip, L. (1986). A Behavioral model of entrepreneurial supply. Journal of small Business Management, 24 (4), 45-53.
Bhide, A. (2000). The origin and evolution of new businesses. New York NY: Oxford University Press.
Bourdieu, P. (1977). Outline of a theory of practice. Cambridge: Cambridge University Press.
Bourdieu, P. (1980). Le Capital Social: Notes Provisors. Acts., Reach. Sci. Soc, 31, 2-3.
Brush, C. G., & Greene, P. G., & Hart, M. M. (2001). From initial idea to unique advantage: The entrepreneurial challenge of constructing a resource base. Academy of Management Executive, 15 (1), 64-78.
Brockhaus, R. H., The Psychology of the Entrepreneur, In C. A. Kent, D. L. Chandler, G. N., & Hanks, S. H. (1982), Market attractiveness, resource-based capabilities, venture strategies, and venture performance. Journal of Business Venturing, 9 (4), 331-349.
Calder, B. J., & Staw, B. M. (1975). Self-perception of intrinsic and extrinsic mote vat ion. Journal of personality and social psychology, 31 (4), 599.
Clarkson, B. E. (1995). A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance, Academy of Management Review, 20, 92-117.
Coleman, J. S. (1988). Social capital in the creation of human capital, American Journal of Sociology, 94, 95-120.
Craik, K. (1943). The Nature of Explanation. UK: Cambridge University Press.
Daft, R. L. (2003), Organization theory and design. Mason, OH: Thomson South-Western.
Dubini, P. (1989). The influence of motivations and environment on business start-ups: Some hints for public policies. Journal of business venturing, 4 (1), 11-26.
Duffy, R. D., & Dik, B. J. (2013). Research on calling: What have we learned and where are we going? Journal of Vocational Behavior, 83 (3), 428-436.
Dweck, C. S. (1986). Motivational processes affecting learning. American Psychologist, 41, 1040-1048.
Dweck, C., & Leggett, E. (1988). A social-cognitive approach to motivation and personality. Psychological Review, 95, 256-273.
Freeman, R. E. (1984). Strategy management: A stakeholder approach. Boston: Pitman.
Gnyawali, D.R. & Fogel, D.S. (1994). Environments for entrepreneurship development: Key dimensions and research implications. Entrepreneurship Theory and Practice, 18, 43-62.
Goldberg. (1990). An alternative description of personality: the big-five factor structure. Journal of personality and social psychology, 59 (6), 12-16.
Greenberg, D. B., & D. L. Sexton. (1988). An interactive model of new venture
initiation. Journal of small business management, 26 (3), 1-7.
Greenhaus, J. H. & Callanan, G. A. (1994). Career Management, Harcourt Brace College Publishers, United State of America.
Hackman, J. R., & Oldham, G. R. (1975). Development of the job diagnostic survey. Journal of Applied psychology, 60 (2), 159-170.
Hackman, J. R. and E.E. Lawer. (1971), Employee reactions to the job characteristics.
Journal of applied Psychology, 55 (3), 259-286.
Herzberg, F. (1987). One more time-How do you motivate employees? Harvard Business Review, 65 (5), 109-120.
Jacobs, B. J. (1979). A preliminary model of particularistic ties in China political alliances: Kan-Ching and kulan-his in a rural Taiwanese township. China Quarterly, 78, 237-273.
Johnson-Laird, P. N. (1983). Mental Models - Towards a Cognitive Science of Language, Inference and Consciousness. Cambridge MA: Harvard University Press.
Kamm, J. B., & Shuman, J. C., & Seeger, J. A., & Nurick, A. J. (1990). Entrepreneur ship Theory and Practice, vol. 14, issue 4, 7-17.
Kamm, J. B., Shuman, J. C., Seeger, J. A., and Nurick, A. J. (1993). The Stages of team venture formation : A decision-making model. Entrepreneurship Theory & Practice, 17 (2), 17-27.
Low, M.B., & MacMillan, I.C. (1988). Entrepreneurship: Past research and future challenges. Journal of Management, 14 (2), 139-161.
Maehr, M. L., & Midgley, C. (1991). Enhancing student motivation: A school-wide approach. Educational Psychologist, 26, 399-427.
Mason, C., & R. T. Harrison. (2010). Annual report on the business angel market in the United Kingdom: 2008/09. Department for Business Innovation and Skills 2010.
Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science, 29, 770-791.
Michael E. Porter. (1985). Competitive Advantage: Creating and Sustaining Superior Performance, New York: The Free Press.
Mitchell, R. K., & Agle, & B. R., & Wood, D. J. (1997). Toward a theory of stakeholder identification and salience：defining the principle of who and what really counts, Academy of Management Review, 28, 853-866.
Norman, D.A. (1983). Some Observation on Mental Model, In A. L. Stevens, & D. Gentler., Mental Models, 7-14, Hillsdale, NJ: Lawrence Erlbaum Associates.
Pestoff, V. A. (1998). Control and multi-stakeholder organizational. In U. K. Alders hot, &Vt. Brookfield, Beyond the market and state: Social enterprises and civil democracy in a welfare society, 106-127. Sydney: Ashgate.cl.
Pintrich, P. R. (2000). The role of goal orientation in self-regulated learning, In M.
Sarasvathy, S. D. (2003). Entrepreneurship as a science of the artificial. Journal of Economic Psychology, 24 (2), 203-220.
Schumpeter, J. A. (1934). The theory of economic development. MA: Harvard
University Press.
Schumpeter, J. A. (1934). The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle.：Transaction publishers.
Senge, P. M. (1994). The fifth discipline field book-strategies and tools for building a learning organization, NY: John Wiely & Sons.
Seashore, S. E. & Taber, T. D. (1975). Job satisfaction indicators and their correlates. American Behavioral Scientist, 18, 333-368.
Shane, S. (2003). A general theory of entrepreneurship: The individual-opportunity nexus. Cheltenham, UK: Edward Elgar.
Shane, S., & Venkataraman S. (2000). The promise of entrepreneurship as a field
of research. Academy of Management Review, 25 (1), 217-226.
Suarez Riveiro, J. M., & Cabanach, R. G., & Arias, A. V. (2001). Multiple goals pursuit and its relation to cognitive, self-regulatory, motivational strategies. British Journal of Educational Psychology, 71, 561-572.
Taylor, F. W. (1919). The principles of scientific management. Harper & brothers.
Timmons, J. A., & Spinelli, S. (2007). New venture creation. New York, NY: McGraw-Hill.
Timmons, J. A., & Gumpert, D. E. (1982). Discard Many Old Rules About Getting Venture Capital. Harvard Business Revies, Jan-Fed, 152-156.
Ucbasaran, D., & Westhead, P., & Weight, M. (2001). The focus of entrepreneurial research: Contextual and process issues. Entrepreneurship Theory and Practice, 25 (4), 57-80.
Walker, S.F., & J. W. Marr. (2001). Stakeholder power – A winning plan for building stakeholder commitment and driving corporate growth, Perseus, Cambridge.
Yeung, I. Y., & Tung, R. L. (1996). Achieving business success in Confucian societies: The importance of guanxi. Organizational Dynamic, 25 (2), 54-65.