Abundant practice in High-Tech industry and regional economic indicate that Small and Medium-sized High-tech Enterprises is becoming important part of developing Hi-Tech industry and creating innovation system in each country. Moreover, it promote the industry upgrade and the improving of the economical integration competition capacity. However, there are a lot of technical and market risks in Small and Medium-sized High-tech Enterprises. Therefore it is more difficult for Small and Medium-sized High-tech Enterprises to finance, contrast with other Small and Medium-sized Enterprises. Under more incomplete finace market, it is a important question for the government to discuss that how to increase the investment on Small and Medium-sized High-tech Enterprises to promote the development of Small and Medium-sized Enterprises multi-level finacing market.Based on the state of the government investment in Small and Medium-sized High-tech Enterprises in our country and the related theory in the field, this thesis provided angel investment model in government High-tech investment. This thesis also analyse the angel investment model adopted in Tianjin, and point out the performance and defect in that.This paper includes 6 sections. The first section is whole introduction.The second section introduces the research on the government High-tech investment and angel investment model in the world. The third section analyses the government investment in Small and Medium-sized High-tech Enterprises in our country and points out its performance and defect. The necessity and feasibility of inducting angel investment mode in government High-tech investment was presented in the fourth section. The fifth section is a example to illustrate the use of the angel investment model in Tianjin. The sixth section is conclusion, and also prospects the use angel investment model in the future. |