摘要 台灣生物科技產業，近年來在政府大力推動下，投資金額、企業營收、就業率與新創公司數逐年成長。然而台灣生物科技水準與美歐日等先進國家相比，技術層次仍有待加強，而台灣生物科技產業發展，相較於美歐日等地區生物科技產業的蓬勃發展，仍屬於播種萌芽，逐漸起飛的階段。 台灣發展新興產業的關鍵因素：如人才、資金、技術等關鍵資源極為有限，因此若能藉由地理區域的集中，來凝聚上述有限的關鍵資源，或可加速台灣生物科技產業的發展。 本研究藉由實地參訪和個案研究；再輔以次級資料（公開文件）的蒐集、整理與分析，來探討生物科技產業聚落發展的關鍵因素。研究對象包括：美國的生物科技產業聚落（Philadelphia，New Haven，Boston，RTP、North Carolina）及歐洲瑞典的生物科技產業聚落（Stockholm / Uppsala，Gothenbrug，Malmo / Lund，Linkoping，Umea）等。 由於生物科技公司是生物科技產業聚落的構成主體，因此首先就企業經營管理的觀點，探討生物科技新創公司形成的關鍵因素；另就產業聚落發展的觀點，探討生物科技產業聚落發展的關鍵因素：如生產要素條件、相關與支援性產業、產業聚落的成長與回饋等；再探討生物科技產業聚落內，使得新事業源源不斷形成，產業聚落得以永續發展的機制；最後由先進國家生物科技產業聚落發展的經驗，對台灣地區發展生物科技產業聚落的政策意涵，提出相關建議。 經由本研究可以得到下列發現：生物科技新創公司最重要的生存方式，在於如何善用環境外部資源，來突破企業內部資源的有限性。而生物科技產業聚落不是無中生有，首先必須先存在大學及研究機構等專業化生產要素，才會設立科學園區或育成中心。大學及研究機構現有的研究領域，決定科學園區或育成中心的發展特色。生物科技公司是生物科技產業聚落的構成主體，而生物科技新創公司形成的機制（如種子基金的設置等）是產業聚落永續發展的驅動力量。種子基金、科學園區或育成中心分別為產業聚落發展重要的無形及有形的連結機制。 / Abstract The amount of investment, the revenues and the employment of firms, and the number of start-ups, within Taiwan biotechnology industry, promoted by the government, increased gradually. However, the level of biotechnology, compared with other developed countries, seems still a lot to be upgraded. Moreover, the biotechnology industry developed in Taiwan is still in the early stage. Therefore, the limited key resources such as talents, capital, technology, if can be concentrated in a specific region, then the emerging industry like biotechnology industry may be developed faster. The study is, use of the field and case study, and the secondary data collected, to explore the key success factors in the development of biotechnology industry clusters. The cases studied include American biotechnology industry clusters, like Philadelphia, New Haven, Boston, RTP-North Carolina, and Sweden biotechnology industry clusters, like Stockholm-Uppsala, Gothenbrug, Malmo-Lund, Linkoping, Umea. Because the biotechnology firms are the building blocks of biotechnology industry clusters, it is first to explore the key success factors of the formations of new ventures from the perspective of business administration. From the perspective of cluster development, it is to explore the key success factors of the formations of new clusters such as the production factors, the related and supporting industry, the growth and feedback of clusters. The mechanism about new ventures growing forever to sustain the clusters development is then explored. From the experiences of these developed countries in the clusters development, the study proposes some suggestions about the policy making on the biotechnology clusters development in Taiwan. From the study, there comes the following finding：The biotechnology ventures leverage the resources from the environment to overcome the limited resources within the firms. The biotechnology clusters can be happened nowhere. First, there will be existed some professional production factors such as universities and research institutes, then come the science-park and incubator. The universities and research institutes define the characteristics of the science-park and incubator. The mechanisms about the formation of new ventures such as the seed fund become the driving forces of biotechnology clusters. The seed fund or the science-park and incubator are the intangible or tangible linkage mechanisms about the formation of biotechnology clusters.

The “Trust to Invest in Early Stage Businesses” is a government project based in a public bank of Paraguay. This “Trust” aims to become the first and the best landmark of “Angel Investor” to foster entrepreneurial culture and help in the development of the stock market and the economy of the country. There is no similar fund in the market, therefore there is no regulation about this type of investment; as a consequence, the “Trust” will start to work with the institutions in charge to establish the basis for this new industry. The special purpose of the “Trust” is to target the most vulnerable of the businesses, the seed and the start-up stages. Those segments are not covered by the banks or any other financial institution. This project is an opportunity for the government to foster the “Inclusive Economic Growth” that is one of the pillars of the “National Development Plan 2014-2030” because start-ups maybe are small companies but they can play a significant role in the economic growth. I believe that the “Trust” will receive back his investment with profit, so, there will be more money to invest in early stage businesses and the cycle will continue.