Research On Risk Evaluation Of High-tech Starts-ups Investment

Since the21st century, as China’s economic system unceasing deepening, in the processof speeding up the development of high-tech small and medium enterprises, there are manyproblems in influencing and restricting the development of small and middle-sized enterprises.The most important of all is that the small and medium-sized enterprise lack of capital. Thedifficulty in financing has become the bottleneck in China’s small and medium-sizedenterprise development. As equity investment venture capital has high-risk and high-returncharacteristics. However，the high-tech start-ups technology is not yet mature, facing manyuncertain risk. In order to weaken the risk of venture Capital, selecting the risk assessmentindicators and setting up a venture investment assessment model, which provide the basis forinvestment decisions of venture capital institutions, has become an interesting research topic.In this paper, from the perspective of the venture capital institutions, we research theinvestment risk analysis and evaluation of high-tech start-ups.This paper first review the current situation of the domestic and foreign venture capitalresearch, from the aspects of evaluation index and the evaluation model, so that we have aclear and complete understanding in the progress of the venture capital. The second part, westudy the theoretical knowledge of the high-tech enterprise and the venture capital from themeaning of the characteristics. The third part we reference the venture capital evaluationresearch which learn from scholars and risk characteristics and build risk assessment indexsystem and risk assessment mode. The fourth part, we used this model to a case study. Finally,we mainly introduce the future results and limitations of this paper.The object of this study is the high-tech start-ups. The main feature of such enterprises isa big risk, financing difficulties. This study not only for the selection of enterprises of venturecapital institutions to provide the basis for decision making, but also provides opportunitiesfor the financing of these enterprises.