Study On The Venture Capital's Support For SMEs' Self-innovation

In recent years, along with the development of the knowledge economy, there emerged a number of new knowledge-intensive industries, which have been providing good opportunities for small & medium enterprises' (SMEs') self-innovation. Meanwhile, as an innovative investment method, which combines high technology and finance, venture capital plays a increasingly significant role in promoting the growth of innovative SMEs and the commercialization of scientific & technical achievements, and developing the high-tech industries, and also it has become an important part in the system of financial support for the SMEs' self-innovation. Domestically, venture capital also plays an irreplaceable role in support of the SMEs' self-innovation. Therefore, it shows that study on the venture capital's support for SMEs' self-innovation has great academic and practical value.Firstly, this thesis analyzes the ability of SMEs' self-innovation, and divides it into two categories: the ability of self-research & development (R&D) and the ability of innovation value realization. On the basis of analyzing these two abilities, it respectively gives an in-depth discussion on the obstacles, which hinder the upgrade of abilities. Secondly, this thesis gives a detailed explanation that venture capital plays an important role in the SMEs' self-R&D, for example, it can provide R&D funds, R&D human resources, information resources and technical support, etc. and commendably make up for the lack in the SMEs' self-R&D; and it further expounds venture capital's positive role in the SMEs' innovation value realization, for example, it can offer follow-up funds, human resources and organizational management, etc. so that it can provide favorable conditions for the well-off transformation of innovation achievements. At the same time, on the basis of analyzing the venture capital's role, it accordingly points out a number of outstanding problems in venture capital's supporting SMEs' self-R&D and innovation value realization. Finally, this thesis puts forward some corresponding solutions in accordance with Chinese reality, mainly gives some recommendations and measures from aspects of improving environmental construction, supporting SMEs' self-R&D and innovation value realization, which hope to provide certain references and inspire for relevant departments.Through the analysis, author clarities such a view that as a bridge linking the capital market and innovative SMEs, venture capital will facilitate innovative SMEs' breakthrough of technology and promotion of the ability in developing new product...