Study On Venture Capital And SMEs Technology Innovation

Modern economic growth has shown an increasing trend to rely on the innovation, SMEs are becoming the main innovation force that could not be ignored, and have significant impact on a country's economic growth and employment. Venture capitals (VCs) plays an important role in the process of SMEs innovation and growth. Although the two major research areas either in VCs or technology innovation, relevant research has considerable depth, the systematic research on the linkages between VCs and SMEs technological innovation are very rare. For this, the dissertition trying to make some exploratory work on the based of existing research. The main research work and conclusions of dissertition are as follows:1. Technological innovation of SMEs and VCs are systematicly discussed respectively. In the discussion of technological innovation of SMEs, the main focus is the enterprise technology innovation capacity and motivation, as well as SMEs technology innovation characteristics, advantages and disadvantages; On this basis, the problems and opportunities of SMEs technological innovation process are analyzed. In the discussion of VCs, the main focus is on the "three-dimensional" governance mechanisms of VCs; The operation process and the environment of VCs; Finally, according to the development course, the problems of China's VCs are analysed.2. VCs linkages with SMEs technological innovation from the perspective of both static and dynamic, the dynamics of multilevel complex networks between VCs and SMEs technological innovation are revealed. Through the in-depth analysis of the general relations between VCs and SMEs technological innovation, the role of SMEs innovative system made up of technical innovation networks and VCs networks is demonstrated clearly.3. Using a combination methods of reasoning and modelling, the finacial gap of SME credit funds (venture capital), a theoretical basis for VCs existence and development is provided. The role of VCs in the process of SMEs technological innovation as well as its mechanism are analysed. By analysing the affecting mechanisms of VSs, not only the comparative advantage of VCs relative to bank loans, but also the ties in order to reduce information asymmetry and value-added services that connected VCs networks and innovation networks in Affiliations.4. The building strategy of SMEs technological innovation network is discussed. Main objectives and tasks of SMEs technological innovation is pointed out; the elements of SME technological innovation network is analyzed; The strategies of construting a technological innovation networks are discussed; Finally the means of strengthening intrinsic link between the network elements interact response are put forward.5. The building strategy of SMEs VCs network is discussed. Build a network of SME venture capital research strategy. The meanings of establishment of domestic VCs network is desscussed from both macro and micro perspective. From the reality of domestic economic development, the basic principles and the framework to construting a domestic venture capital networks and presented. The systematic construction strategy as well as its corresponding guarantees of VCs network are put forward.