The Financing Strategy Of Medium & Small High-tech Firms Research

The boteriaics of Medium & Srnall fughtech Fbo (MSHF) include SInallinveStInen reqtwnL fas Start-UP, flexible decisionenaking meCbosm, lowInanageIne cost, Mility to W diversity and especially the UnInatchabIesuperiority of innovthen medrism and innovation effectiveness. MSHF is no onlyan effeCtive caedySt for the triformallon of scienhfic reech achievement andrealhation of technology innovaion but also an twrtan source for the eIneghindusny formation. It has Shown in recent yeaxs that in terms of both qUanity andquality MSHF has become an iInPOrtan comPOnent and new grOwth POint ofnational economyVentUr caPital wtfonn thoUSands and thoUSans of new ideas to business ativities,push on economy deVlopmen. Because most of the growing enterpses are inhightech area, veAn caPital often haV intimate relationship with high-tech items.NO matter in develoPed countfies or develoPing countfies, bigh-tech indtJsny play aimportant Part of economy Therefore, finane of high-tech indusny become a keyproblem. Govemnent of every country get to kJ1ow the imPOhaIce of advancingventUre caPital.ffes article combining ti1e characteristics of every life period that MSHF has and thecurrent sitUation of caPital market, discusses establishment of finance innovationmeMsm for MSHF By research the manner of aPplication abollt vent'Lire capital,aJlaIysis the necessity of using pleferred stock. convertible debt. debt with waIransetc.