Research On Performance Of Venture Capital To High-tech Industry Development

High-tech industry is often defined as those enterprises which control certain high-techintellectual property rights, strong potential development energy and better prospects. Theyare characterized as high-risk, high investment and high profit. These characters are incontradiction to the principal of steady operation of commercial banks, it is hard for ahigh-tech enterprise to obtain loan from banks. But the venture capital also has the samecharacters, which can meet the financing desire of high-tech enterprises and decentralize risksand share profits.The research about high-tech industries and venture capital development is anextensively concerned problem. In the context of economic globalization, high-tech industryhas become the main motive force of economy. The core of the high-tech industrydevelopment is that they should continue to provide broad prospects for the application ofspace technology and products with high value; its essence is that they can improve thesuccess rate of the transformation of high-tech achievements.In theory research part, the article firstly analyzes venture capital and the high-techindustry, the meaning of their respective characters and venture capital operation, thenanalyzes the effect of the interaction between the two, points out that the venture capital haseffect of resources supply to the high-tech industries development, also, the high-techindustries have broad market prospect which also attracting venture capital investment.In the part of empirical study, this article chooses eight regions of China about theventure capital and high-tech industry development as the sample, builds a DEA model. Theempirical results show that the performance about regional venture capital to the high-techindustry development is significantly different, the role is also different, each region shouldincrease or reduce venture capital, make both on the optimal scale.Finally, through the above theory and the empirical research, results for improving theperformance of venture capital to high-tech industry development is proposed, through thegovernment, enterprises and venture investment company joint efforts, we can create ahealthy and stable environment of venture capital and high-tech industry.