Research Of The High-tech Business Incubator Financing System In Wuhan City

Technological business incubator is the services organization to cultivate and nurture technological small and medium-sized enterprises.The first business incubator emerged in America in the 1950s.Practice in over 20 years both domestic and abroad has proved that technological business incubators have played an important role in promoting industry development of high technology, incubating and nurturing small and medium-sized enterprises of science and technology,stimulating technological transformation,restructuring structure of industry,cultivating new economic growth points,improving national innovation service system,and flourishing economy at the same time.In June,1987,the East Lake entrepreneur's service center,the first business incubator in China,emerged in Wuhan.Since then,technological business incubators have developed rapidly throughout the country.In July,2002,approved by the Chinese Ministry of Science and Technology,Wuhan was assigned as the building pilot city of the nation's technological business incubators development.In 2003,Wuhan municipal government announced that the building pilot work formally started to focus on industrialization of business incubators.Till 2006,the total number of business incubators in Wuhan has reached to 45,and incubation space was 1,000,000 square meters in all.Moreover,there were more than 2,300 enterprises on hatching,and the incubation funds summed up to 980 million yuan.Technological corporation ubiquity financing problems,business incubator of technologieal has an un-instead action in solving capital needs for new birth corporation.But along with the corporation being incubated,capital needs also inflate.Business incubator can't meet the capital needs because of its own limited capital origin.This thesis starts with the capital problem of business incubator, compact with the development fact of Wuhan City,researches the system of our country's business incubator of high technology.And it expects to offer an scientific and systemic theory to business incubator of high technology's financing.Until now,financing problem is the most problem to the business incubators and enterprises in Wuhan city.Those difficulties bate the development of incubators and enterprises,such as the sourcing of fund,the adding of risk-investment,the low level of administration,and the bugs of financing system.The financing has two directions,for the incubators and for the enterprises.On the direction of incubator financing,the intrust-financing has many excellences such as the fewer investors,the more handle way,the fuller law system and the less cost.Based on these reasons,the intrust-financing should be regarded as the emphasis.For the moment,the development of intrust-financing depend on advancing the negotiability of intrust warrant.The main way is to cooperate the intrust warrant exchanging in Property-right Market,incubators make market for the intrust warrant,reduce the amount of single contract,and so on.On the direction of enterprise financing,the main way is to apply the Government-subsidize,the stock equity financing,the credit equity financing,the risk-investment,and the stock issue.In consideration of Wuhan city's conditions, the Government should supply better services,especially on strengthening the policy supports,completing the finance system and the exit-mechanism of risk-investment.