Abstract: HTC is taken as the case of innovation catch-up enterprise.In this paper, innovation catch-up process based on window of opportunity and the intrinsic capability that is needed during each catch-up stage under the quickly changed environment are analyzed. The results are as follows. Firstly, the emergence of window opportunity is a result of multiple interactions, which includes the change of technology and market, competency trap of leading enterprises and intrinsic capabilities of latecomer enterprises. Secondly, the innovation catch-up process can be divided into three stages: identifying the window of opportunity, entering the window of opportunity and expanding the window of opportunity. Entrepreneur’s technical aspiring, capability of market perception, technical search capability and quick decision-making capability are support capabilities during the first stage. Technology integration capability and independence R&D capability are support capabilities in the second stage. During the stage of expanding window opportunity, the integrating capability of industry networks is needed. At last, In terms of innovation types, the micro-innovation is also an important measure to achieve innovation catch-up.

摘要： 以宏达国际电子股份有限公司(简称HTC公司)为例，分析了快变市场环境下基于机会窗口的创新追赶历程及各个阶段对后发企业内在能力的要求。研究结果表明：创新机会窗口出现的成因是多重综合作用的结果，包括技术与市场变化、领先企业“能力陷阱”和后发企业内生能力等因素。创新追赶阶段可分为机会窗口辨识、机会窗口进入、机会窗口扩展三个阶段。机会窗口辨识阶段的能力支撑为企业家技术抱负、市场感知能力、技术搜索能力及快速决策能力，机会窗口进入阶段的主要能力支撑为技术集成能力和自主研发能力，在机会窗口扩展阶段还要求企业具有产业网络整合能力。在创新类型表现上，“微创新”组合也是实现创新追赶的有效手段。

关键词: 机会窗口, 快变市场环境, 创新追赶, 企业能力, window of opportunity, High-Velocity markets, innovation catch-up, enterprise capability