Research On Dynamic And Comprehensive Evaluate And Practical Demonstration Of High-technique Venture Capital Project

As the development of knowledge, the high-technique industry appeared as a hurricane. It has affected the entire world. Now, because the high-tech industry is one of the most important things to become more comparative and stronger, every country is doing their best to adjust their strategy.Venture capital (VC) is the best financial method to match with high-tech develops. It accelerates the birth of high-tech project and helps the economic growth. Because our country VC business has appeared these years, we are not as good as developed country. So it is an important task to advance VC business.The project appraise is a key phrase in the VC. So it needs to start up a scientific device to lessen risk and catch bigger value. But many research of our country are focus on the account, or even it's about the project risk, it is only at the upper level, not in the deep research.This paper based on the practice of our country, probes into combine the dynamic longitudinal and lateral compare characteristics, give different models for different period's project. Author tries to originate a new mathematic model that link goal and period together, hopes this paper can give some advice to venture capitalist.At first, the venture capitalist should do a whole check and analyze for the apply projects. This can kick out some projects that not meet the company's need. And at the left projects, we base on it phrase's character to take different methods.This paper use Risk Grids method to appraise project's risk. And in it, it use AHP method to calculate the risk weightiness. As for the value model, if the project is in the expansion stage or mature stage, it use Fuzzy comprehensive method; if it in the seed stage or start-up stage, it use Project Value Judge Formula.So, the comprehensive estimate math model is value divided by risk, the bigger the better. And with the development of project, we can also judge that if is worth to go on invest. As well as noticed another side that influence choose project to invest.In the management of project, the venture capitalist must care these items: the most important risk in the different period is different. (The Borda data is different). At seed Stage, technology risk is the most important; because this period's work is do the research. At Start-up Stage, the financing risk is the most important. At Expansion Stage, the most important risk is management risk. At Mature Stage, the financing risk is the most important, because it need to open market further. So, manager should take different actions for the project in the different periods.This paper has done the research with the theories and practical demonstration, and taken risk and value as point of penetration. The system is match with the project in the different period. This paper has combined three main models efficiently in a scientific and suitable way.The author has set up one model system which use different estimate methods at different stages. The model system has good applicability which can be used in a various area.