Regional Venture Capital Development Mechanism And Simulation Model Research

The 21st century is the era of knowledge economy, and the risk investment was known as the "engine" of economic growth, promotes the high-tech industrial development and plays an important role of the economic growth. However, the overall risk investment and development in China is relatively backward, the development of regional risk capital is imbalance. The development of venture funding is involves various influence, not only the condition of itself, more affected by external environment. At present the most studies of the risk investment concentrates in the evaluation of the investment environment or a part of the risk investment operation process, ignore the research on the whole. From the overall study of the risk investment, we can have a deeper understanding about the regional investment risk and Influence factors.This paper selected factors both regional scientific & technological innovation and regional economic growth, which have impacts on the development of risk investment. After analyzing the effect of influence factors, the paper proposed basic framework of regional venture capital development mechanism, and divided the development mechanisms of venture capital into three sub-mechanisms: dynamic mechanism, supporting protection mechanisms and operating mechanisms according to the difference of elements'role. Among them, the dynamic mechanism provide impetus to the development, supporting protection mechanisms provide the necessary external conditions for venture capital's development and be affected by dynamic mechanism. Dynamic mechanism and supporting protection mechanisms'ultimate goal is guaranteeing the operating mechanism operating smoothly, and operating mechanism will promoting the development of dynamic mechanism through high-tech industrialization. The interactions between the three sub-mechanisms promote the healthy development of development. In the third part, the paper selected representative indicators, and build the system dynamics model using the system dynamics theory. Finally, done the simulation and sensitivity analysis for the venture capital's development mechanism of Heilongjiang using the model, revealed the problems of the current venture capital industry of Heilongjiang and put forward corresponding suggestions.