在台灣眾多製造業中，許多公司以內部創業持續支持企業發展，製藥產業亦不例外。然而相對於高科技業廠商面臨的經營環境變遷，台灣的製藥產業經營環境的變化較為緩慢、產品生命週期亦更為長久。企業的內部創業演變歷程。
本研究以轉換過程的六大設計原則 (six design principles) 作為內部創業探討的研究基礎，以「轉換前」、「轉換中」與「轉換後」等三大階段來探討；「轉換前」之主題有「專屬之轉換團隊」、「能力評估及是否準備就緒 (readiness and capability assessment)」、「提供足夠的訓練」、「人員的轉任」，主要為建立母公司的吸納及融合能力；「轉換中」之主題有「以開始銷售為轉換時機之指標」；「轉換後」之主題有「績效評價指標之校準 (alignment)」；「轉換前與轉換後」均相關之主題有「轉換前新創事業的自主性」、「轉換後新創事業的自主性」；「轉換前、轉換中與轉換後」均相關之主題有「公司層級的倡議與擁護者 (corporate champions)」。
以此理論模式為主軸，進行 Y 公司個案選擇、訪談以及資料蒐集，以直接觀察與參與式觀察來進行研究，了解其內部創業過程與各轉換過程主題的對應性，以及在此對應的新觀點中內部創業之關鍵成功因素。
本研究所得到的主要結論如下：
1. Y 公司再創後續新事業時，會受到員工個人熱忱與對新事業認同感之影響。
2. Y 公司內部創業領導者的層級愈高愈有助於新創事業發展。
3. Y 公司可複製現有成功經驗發展到後續的新創事業。
4. 母公司營收及獲利性穩定，有能力維持新產品於醞釀 / 萌芽期及導入期所需的資源投入，提高新事業之存活率。
本論文最後說明研究結果的學術貢獻，並針對實務與後續研究提出相關建議。

Many companies support sustained corporate development via internal corporate venturing in Taiwanese manufacturing sectors. Taiwan’s pharmaceutical sector takes no exception. Contrary to the ever-changing competitive landscape in many high-tech sectors, Taiwan’s pharmaceutical sector faces a less-changed competitive environment and longer product life cycles.
In this study, based on the six design principles to study the internal corporate venturing of biotechnology business in Y corporation, we investigated three phases, including pre-transition, transition, and post-transition ones. Phase themes in pre-transiton include dedicated transition team, readiness and capability assessment, adequate training, and personnel transfer. These themes aim to establish corporate absorptive and integrated capacity. Phase themes in transition include first sales as a criterion. Phase themes in post-transition include performance measurement alignment. Both pre-transition and post-transition themes are relevant to venture autonomy. All pretransition, transition, and postransition themes are reveleant to corporate champions.
Based on the six design principles as a study process, we investigated selected cases in Y corporation. By interviewing key persons and collecting information in a participant-observation way, we probed the corresponding phase themes in each internal corporate venturing program and summarized key successs factors in these internal corporate venturing programs.
We summarized as follows:
1. The success of an internal corporate venturing program in Y corporation is highly influenced by participating employees’ entrepreneurship and affiliation to this program.
2. As the corporate champion is more high level in an internal corporate venturing program the more success rate of a program will enjoys.
3. With the entreprenurship, affililation and corporate champion experience Y corporation may duplicate these experiences to future internal corporate venturing programs.
4. The continuity of a profitable corporation sustains the corporate capacity of maintain resources allocation in a corporate venture still in germination and therefore elevate the survivability of a new corporate venture.
The last part of this thesis explains the significance of this study and presents recommendations for future empirical studies.

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