Study Of Enterprise Risk Investment Mechanism Under An Open Innovation Environment

The technological innovation is a powerful tool that enterprises keep the competition advantage. With the development of knowledge economy and network technology, the technological innovation environment transformed by the traditional enclosed pattern into the open style pattern. Facing changes like this, the enterprises often through participation in the venture capital activities, combine the outside knowledge resource with internal innovation resource as much as possible, in order to improve the innovative efficiency of enterprises and obtain the long-efficiency technological advantage. There are many kinds of ways that enterprises participate in venture capital. This thesis sort out multitudinous pattern classification as two kind of main patterns: internal corporate venture capital and external corporate venture capital.The thesis mainly includes four parts. The first part mainly introduces the concept of open innovation and corporate venture capital as a foundation of the thesis. The second part is of main body of this paper. A deep research is carried on to the operation principle of internal corporate venture capital mechanism and external corporate venture capital mechanism separately, the participation motive, the management process, and the function performed of enterprise innovation mechanism. In the third part, the problem of Chinese enterprises participating in the venture capital has been analyzed. The concrete measures and suggestions are also provided. Finally, the paper analyzes and proves the intrinsic relations of enterprise participation venture capital and corporate innovation through Legend Capital cases, and has put forward the suggestions.The thesis carried on the detailed research of the venture capital mechanism to domestic and foreign enterprises. Embarked from enterprise innovation strategy angle, taken open innovation environment as the background, the thesis give answers to the question of what is corporate venture capital, what is open innovation, why the enterprise need participate in venture capital activities, and how to participate in venture capital activities. The paper constructs out a preliminary theory frame, and has certain theory meanings. Meanwhile, combined the technological innovation of Chinese enterprise with development characteristic of venture capital, many useful measures are also provided. The thesis can help enterprise understand and employ the venture capital tool, promote the innovation ability and key competitiveness, and also has the realistic directive significance.