The Research On Venture Capital On The Impact Of Technology Innovation Of Enterprises Based On Technological Life Cycle

Venture capital is a special investment behavior, vital status and important roles in the process of enterprise development, high-tech enterprises with a high input, high output, high-risk industry property more attractive to venture capital participation, therefore,venture capital often become synonymous with a high-tech entrepreneurship.Technological innovation of high-tech enterprises by virtue of relying, at the same time, based on the life-cycle theory, the technology of high-tech enterprises with basic life cycle of the import, grow, mature, recession has a lot of intellectual property.In different stage of life cycle, the focus of the production and operation vary, so there have been different strategy of risk investment in high-tech enterprises in different stages of TLC, high-tech enterprises in the different stages of its technology in TLC, to choose risk investment strategy are not the same.This article is from the point of view of the technology life cycle analysis of the relationship between risk investment and enterprise technological innovation, analyzes technology innovation mechanism of enterprises in different technology life cycle stages and how to choose the venture capital based on different technology cycle stage enterprises, which also has important practical significance.Impact analysis in technology life cycle between the different stages of venture capital and technological innovation, we believe that:venture capital in the early stages of the technology life cycle, and promote the research and development of the original technology; promote a product in the growth stage of the technology life cycle, or service innovation; mature stage in the technology life cycle, and promote the process of innovation; technology venture capital in the recession phase of the technology life cycle, companies have access to the industrial transformation and upgrading or business targets, in order to achieve its sustained competitiveness constantly enhance the objectives and requirements. Thus, this paper also inqures into that enterprise the strategy in the different stage technology life cycle how to select risk investment,which has practical significance in enterprise risk investment decision-making based on TLC.