CAJ | 학술논문

企业孵化器是创业企业成长的摇篮，其能为创业企业提供优质孵化服务的前提是自身的健康发展。本文从商业模式理论出发，对比剖析上海市运行良好的两个孵化器的目标客户、价值主张、价值链、动态能力和收支平衡模型，并探讨这两个典型孵化器如何通过整合社会资源服务创业企业。本研究揭示了孵化器对创业企业的价值源泉是其服务能为创业企业产生正向现金流，特别指出孵化器为创业企业提供融资能力与其孵化服务能力呈正相关，从而论证了孵化器本质是一个智力型服务机构，可自我持续发展的孵化器是一个能与创业企业、合作伙伴共赢共生的创新生态系统。
기업부화기시창업기업성장적요람，기능위창업기업제공우질부화복무적전제시자신적건강발전。본문종상업모식이론출발，대비부석상해시운행량호적량개부화기적목표객호、개치주장、개치련、동태능력화수지평형모형，병탐토저량개전형부화기여하통과정합사회자원복무창업기업。본연구게시료부화기대창업기업적개치원천시기복무능위창업기업산생정향현금류，특별지출부화기위창업기업제공융자능력여기부화복무능력정정상관，종이론증료부화기본질시일개지력형복무궤구，가자아지속발전적부화기시일개능여창업기업、합작화반공영공생적창신생태계통。
Technology business incubator is the cradle of the star - up businesses. Only a healthful developing incubator can give enterprises good service. As viewed from the theory of business model, we study the 5 factors （Target Customer, Value Proposition, Value Chain, Dynamic Capabilities, Revenue and Cost Model） of 2 incubators in Shanghai which operate successfully. From the analysis, we＇ll know incubators how to operate and get the resource of value of entrepreneurship from incubator. The incubation ability of an incubator is as strong as the finance ability that the incubator provides for star - up businesses. Incubator provides intellect service. The incubator of sustaining growing up, enterprises and partners are made of an innovational ecosystem.