The Effective Mechanism Of Venture Capital To Promote University Technology Transfer

The successful experience of Silicon Valley and Route128shows that Venture Capital plays a major role in university technology transfer. Under the influence, University of Cambridge and many famous universities in China have established Hi-Tech Parks, introducing Venture Capital into technology transfer. However, the Hi-Tech Parks in Cambridge and China have little impact. Why these Hi-Tech Parks tried to imitate the development model of Silicon Valley and Boston Route128area, but repeated setbacks? We believe that the University of Cambridge, and many Chinese universities focus only on the surface to imitate, they just joint the Venture Capital and famous universities without depth study of the real effective operation mechanism, and this is the root cause of their trouble. Therefore, this paper attempts to study the effective mechanism of the use of Venture Capital to promote university technology transfer. We also try to provide advice and policy recommendations about how to use Venture Capital to accelerate the university technology transfer process.This paper first studied the meaning and characteristics of university technology transfer and Venture Capital, and revealed the important role of Venture Capital in university technology transfer. After that, we introduced the situation of the use of Venture Capital in the university technology transfer in China.Then, this paper focused on the cases of Hi-Tech Park of the University of Cambridge, Route128and Silicon Valley areas, and studied how to use Venture Capital to promote university technology transfer in the three regions. We mainly studied the Venture Capital industry policies, technology transfer policies, the characteristics of the university research activities, the development of the regional Venture Capital industry, and the development of the technology transfer agents. After that, we summarized the experience of the Cambridge Hi-Tech Park, and deeply researched the cases of Route128and Silicon Valley to find out why Venture Capital plays an important role in university technology transfer, trying to find out the effective mechanism of how to use Venture Capital to promote university technology transfer.We compared and analyzed Silicon Valley, Route128and Cambridge Hi-Tech Par k, and found out that the possibility of University technology transition is critical, the dev elopment state of venture capital industry is pivotal, and the operation of the technology a gents is an important factor. Therefore, this paper argues that, the effective mechanism of use Venture Capital to promote university technology transfer should be:the high possibility of university technology transition, the mature operation of the Venture Capital industry, and the efficient service of technology transfer agents.Finally, according to the author’s research conclusion, considered the situation and problems of Venture Capital involves in university technology transfer in China, this paper gives some opinions and suggestions on using Venture Capital to promote university technology transfer:In the future, China’s policy adjustment should focus on perfecting its knowledge transfer mechanism, building up institutional environment for venture capital industry, reforming the system of university management and evaluation, and establishing a legal policy system to promote the transition of university technology.