Research On Integrated Development Between Business Incubator And Venture Capital

Business incubator and venture capital have played an important role and have all made the outstanding effect in supporting innovating, undertaking and promoting the industrialized development of the new and high technology. They have consistency and complementarities in many aspects. Business incubator and venture capital have complementarities. For example, business incubator lacks funds and the management level of incubate enterprises are low, but there are few projects which can be supported by venture capital. However they have consistency in many aspects: their developing direction is the same; the two are innovative operational modes, they have a kind of win-win relation with pioneering enterprise, their withdrawal way and investment purpose are same basically.Chinese business incubator and venture capital experienced exploring stage and imitation stage. Now they are seeking better development model. Incubator has realized the business opportunity contained of one's own potentiality progressively in constant development, they have already been no longer satisfied with the operational mode of the inherent low income of incubator, and hoped to facilitate the realization of the new management mode through venture capital. Venture capital hopes to participate in incubator and develop its investment business through incubator. So it is not merely possible but is inevitable trends for business incubator to combine with venture capita closely develops in coordination.With reference of both domestic and international study on incubator and venture capital, this paper attempt to research mainly in five follows aspects:1. The paper analyzes the similarities and differences between business incubator and venture capital.2. According to the consistency and complementarities of business incubator and venture capita, this paper discusses the necessity and certainty for their integrated development.3. Designing mode of integrated development between business incubator and venture capita, the paper make us have regulations to abide by in actual operation.4. Setting up a rational Index system of cooperative effect of them, we can assess the cooperative effect scientifically and quantitatively.5. The paper analyze the deficiency about the fact that business incubator and venture capital exist in coordination ,find out the relevant factor of development, and put forward the corresponding countermeasure and suggestion to realize its theory's guidance function.The paper is expected to provide a scientific and systematic theoretic base for the development of venture capital and business incubator. And on such a base, they can be improved; venture caused by the lack of information symmetry decreased thecapital, technology, management and policies can be integrated. And thus large-scale incubation of innovative enterprises can be realized.