全球工業用酵素市場近年來穩定成長。以2016年Novozymes年報資料推估，2016年全球工業酵素產業市場規模約為29億美元。前二大廠商Novozymes及Dupont市占率分別為48%和19%，合計已達六成以上，可見全球工業用酵素市場為一寡占市場，其中Novozymes在2016年持續為全球最大的工業用酵素廠商，針對使用客戶希望改良製程、提升產品品質及降低成本，以及減少環境污然及生質能源需求增加等需求，推出了各類酵素製劑，以穩固工業用酵素市場龍頭地位。
個案的故事裡，愛德華利用蛋白質摺疊理論以及人工智慧技術，已建立準確度極高的酵素溫度穩定度預測模型。因此，未來的酵素的耐溫工程開發，可能將改以確定性驗證實驗來取代隨機大量實驗，能讓研發縮時，同時成本降低10,000倍。
新技術的誕生，除了令人欣喜外，緊接著開始有許多問題困擾著愛德華團隊，首先：這項技術到底值多少錢？這不只涉及到是否應該去成立新創事業，還影響了以後的商業談判及定價策略。另外要考量的一點是，有關創業這件事，"謀定而後動"與"邊做邊學"這兩項工作是同等重要的，因此，愛德華是否已經完成了所有的事前評估及準備呢？
愛德華不希望直接出售新技術，因此有關商業模式的設計尤其重要，如何勾勒出商業模式的全貌，幫助愛德華很快的看到創業（創新）的重點，是本論文最後要討論的問題。
本論文以哈佛式個案撰寫，論文包括個案內容和教師教學指導手冊兩部分，透過教師引導，以個案為實例探討：新創事業的評價方式為何？如何評估新創事業的經營可行性？個案是如何設定出創新商業模式呢？期望本個案論文可提供給企業界高階管理者的經營參考。

關鍵字： 人工智慧、蛋白質摺疊理論、無形資產評價、交易成本、商業模式

The global industrial enzyme market has grown steadily in recent years. Based on the 2016 Novozymes annual report, the market size of global industrial enzyme industry in 2016 was approximately US$2.9 billion. The market share of Novozymes and Dupont, the top two manufacturers, was 48% and 19%, respectively, and the total amount has reached more than 60%. It can be seen that the global industrial enzyme market is an oligopolistic market, in which Novozymes continued to be the world's largest industrial enzyme manufacturer in 2016. Novozymes has introduced a variety of enzyme preparations to meet the needs of customers who want to improve their processes, improve product quality and reduce costs, as well as reduce environmental pollution and increase demand for biomass energy, in order to stabilize the industrial enzyme market leader.
In the case, Edwards used protein folding theory and artificial intelligence technology to establish an accurate temperature stability prediction model for enzymes. Therefore, the development of future temperature engineering of enzymes may use deterministic verification experiments to replace random experiments, which can reduce the development cost by 10,000 times.
The birth of new technologies will be delightful but many problems will also begin to plague the Edwardian team. First of all is how much is this technology worth? This affects not only the decision whether to start a new business, but also future business negotiations and pricing strategies. Another point to consider is that with respect to entrepreneurship, the two tasks of "constructing and then moving" or "learning by doing" are equally important. So, has Edward completed all the prior assessments and preparations?
Edwards does not want to directly sell new technologies. Therefore, the design of business models is particularly important. How to outline the overall picture of the business model and help Edward quickly see the focus of entrepreneurship (innovation) is the final issue of this paper.
This thesis is written in Harvard style. The thesis includes the content of the case and the teaching guide manual. Through the guidance, the case is used as an example to discuss: What is the evaluation method of the new business? How to evaluate the feasibility of the new business? How did the case set up an innovative business model? It is expected that this case paper can provide business reference for high-level managers in the corporate world.

Keywords: Artificial Intelligence, Protein Folding Theory, Evaluation of Intangible Assets, Transaction Costs, Business Model

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