风险投资对浙江高新技术企业发展影响的实证分析及对策研究

An Empirical Analysis and Countermeasures on the Impact of Venture Capital for high-tech enterprises development in Zhejiang Province

摘要:

对浙江省3480家高新技术企业进行调研,分析浙江高新技术企业引入风险投资的特征,对比风投背景高企与全省高企的平均发展水平,分析风投介入前后企业发展速度变化和企业外部融资变化。得出有风险投资背景的高企各项经济与科技指标增长率高于全省平均水平,风投对企业进一步融资和推动上市有积极的作用,但是风投普遍投向成熟期企业,并没有在科技成果转化和产业化最急需资金的初创期介入,对高企发展速度的促进作用不甚明显,培育和扶持高企的摇篮作用没有得到较好的体现,即天使投资严重缺失。在此基础上提出一系列引导风险投资投向早期、培育发展天使投资的对策建议。

Abstract:

It researches on 3480 high-tech enterprises in Zhejiang Province, analyses its risk Investment characteristics. It Contrast with average level of the province and analyses the development speed changes and external financing changes with venture capital investment. The economy indicators and science and technology indicators with venture-backed enterprises are higher than the provincial average. Venture capital investments have positive effect on enterprises further financing and listing. But Venture capital investments generally invest in mature companies, not the start-up period which is the most urgent need of funds in transformation and industrialization. It is found Venture capital investments in promoting the development of high speed is not obvious and angel investments are serious deficiencies. This article proposed a series of countermeasures about guiding investments on early period and nurturing the development of angel investments.