本研究以4 個新創事業的深度個案訪 談，探究創業者如何掌握創業機會。本研 究發現，創業者在資源有限的初始條件 下，在掌握創業機會方面有兩大關鍵因 素：第一，創業者要能夠提出具有強烈吸 引目標客層的價值主張；第二，要能掌握 相應的能力與資源，將該價值主張轉化為 可以實踐與落實的獲利核心。因此，創業 者對於創業機會，是掌握從外部不確定性 因素（包括環境、技術及競爭者）所觸 發，因而浮現具有實質可以取利的創業機 會。換言之，創業者在面對多變的環境， 必須敏於觀察時勢的變化，精準選擇具有 利基的市場區隔；對於技術的發展與趨勢，必須有不隨波逐流的勇氣，且能不斷深化本身的能力；在面對競爭者方面，要能夠深切瞭解產業的競爭態勢，集中能力與資源築起進入障礙。亦即，創業者之所以能夠成功掌握創業機會在於提出能夠打造具利基市場定位之「價值主張」與能夠具體落實之「獲利核心」

Analyzing four start-ups along with in depth case studies, we examine how entrepreneurs seize emerging entrepreneurial opportunities. Due to limited resources initially, entrepreneurs tend to focus on two things to seize these opportunities: firstly, proposing value propositions to the targeted customers or niche segments; secondly, deploying capabilities and resources to transform value propositions into profitability cores that entice customers to pay for value and get profit back. New ventures must cautiously watch and select opportunities and seize them generated from uncertainties, including environments, technologies, and competitors. Therefore, entrepreneurs should be sensitive to business trends and precisely choose the niche markets when they confront fast changing environments. Also, facing technological developments, they should continuously build up their own capabilities and escape from being followers and try to move forwardly for creating entry barriers to fend off competitors. The paper concludes that entrepreneurs have to integrate value propositions and profitability cores for seizing entrepreneurial opportunities successfully