本研究之目的在探索國內科技產業的發展過程中，科技公司創業及經營的過程裡，創投公司對科技公司之知識互動關係，探討創投公司在科技公司各經營階段所扮演的角色及功能，創投公司可以提供科技公司之附加價值，影響創投事業與科技公司知識互動之因素，以及創投公司對科技創新之影響。 　　創投公司與科技公司知識互動成功之因素，在於科技公司之知識及資源的需求，以及創投公司所具有之條件，依據上述個案分析發現，其主要關鍵因素如下： 　　1.創投公司之資金為科技公司迫切需要之財務外援。 　　2.經營團隊對資金募集陌生或沒信心。 　　3.認同創投公司之專業能力。 　　4.經營團隊缺乏專業經營管理經驗，對外部知識之依賴度高。 　　5.對創投公司之組織網絡資源（上游零組件材料、下游客戶、策略投資人、新技術來源等）依賴度高。 　　6.產業之成熟度低且變動幅度大，產業前景不明，經營團隊對外部知識之依賴度高。 　　7.企業轉型方向未定，對新產業不熟悉，需要創投公司協助。 　　8.科技公司與創投團隊彼此有深厚的互信基礎。 　　9.科技公司之經營團隊對投資環境陌生。 　　10.創投團隊具有協助科技公司企業重整成功的經驗。 　　11.創投公司掌握科技公司具影響力的股權及決策權。 　　12.創投公司瞭解新市場趨勢。 　　本研究分析歸納之研究發現如下： 　　一、創業經營互動構面 　　【研究發現一】：科技公司的種子期及創建期，創投公司扮演催生者及創業智囊的角色。 　　【研究發現二】：科技公司的成長期及擴張期，創投公司扮演資源提供者與仲介者的角色。 　　【研究發現三】：科技公司的成熟期，創投公司扮演股票上市推動者角色。 　　【研究發現四】：科技公司的重整期，創投公司扮演企業改造者角色。 　　【研究發現五】：產業組織網絡的綿密度，會影響創投公司之投資品質。 　　【研究發現六】：創投公司的投資金額會影響知識互動之程度。 　　【研究發現七】：僅資金投資的創投公司漸不受科技公司歡迎，具有附加價值的創投公司才有較多空間。 　　二、科技創新互動構面 　　【研究發現八】：創投公司主導資本效率，協助科技公司之技術創新，兩者合力推動經濟發展。 　　【研究發現九】：創新技術透過創業過程取得卓越財務報酬，為科技產業技術成長的動因。 　　【研究發現十】：科技背景的創投公司，較主動推動技術創業，為科技成長做先鋒，財務背景創投公司則傾向於協助經營為主，為科技成長做後援。 　　【研究發現十一】：技術創新的分散性及開放性，促使創投公司的存在與發展。 　　【研究發現十二】：科技知識與經營管理知識的模組化結合，促使新創科技公司與創投公司密切合作。 　　三、知識管理互動構面 　　【研究發現十三】：創投公司的產業網路知識及經營管理知識，對科技公司的協助，優於創投公司之金融資本之效益。 　　【研究發現十四】：產業成熟度越低，創投公司與科技公司之知識互動越緊密。 　　【研究發現十五】：技術導向的技術領先公司，與創投公司之知識互動程度越低。 / 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.