Study On Core Competence Evaluation Of Venture Capital Institutions

From the date of the birth of Venture Capital, it has been paid attention by the industry, academic and governments. As Venture capital relates to the financial system innovation, high-tech industry development, growth of SMEs and other aspects, the study of essential characteristics of the venture capital tends to be separated into many fragmented awareness.With the development of China's Venture Capital industry, the competition within the industry becomes increasingly intense. The industry is in the tide of survival of the fittest. In this new situation, this clearly has important practical significance to study the core competence of venture capital institutions in the content, features and decision mechanism, and build the comprehensive evaluation system of the core competence in order to upgrade competitive strength of China's venture capital institutions.This paper first elaborates the venture capital theory and core competence theory, which provide a theoretical foundation for the whole paper. Then, the paper makes an in-depth analysis on the content, features and determining mechanism of the core competence of venture capital institutions, and thus builds the core competence evaluation index system. Then on this basis, given that the index system includes both subjective and objective indicators, the paper presents a fuzzy comprehensive evaluation method to evaluate the core competence of venture capital institutions. This paper also selects a well-known venture capital institution as an example, carries out its core competence evaluation with use of the evaluation program proposed in this paper. Finally, this paper proposes internal policies and external measures to enhance our core competence of venture capital institutions.On the aspect of theoretical research, the main innovation of this article is that it explores the decision mechanism of the core competence from three key dimensions:the support base, the performance of ability and the realization of value. And on the aspect of practical applications, a major innovation of this paper is that it learns from management science, systems engineering and mathematical knowledge and presents a fuzzy comprehensive evaluation method to evaluate the core competence of venture capital institutions for the first time.Overall, this core competence evaluation system which is constructed by this paper is effective and has some promotional value. The recommendations according to the evaluation results could provide useful lessons for venture capital organization for the specific operations and long-term strategic arrangements.