Venture Capital’s Effect On Innovation Ability Of Chinese Enterprise

Technological innovation is the driving force to promote sustained economic growth, especially in the 21 st century. High-tech industry for the support and promotion of economic development has become the consensus of all countries. After years of rapid growth, the lack of innovation ability in Chinese economic and social development has become increasingly prominent. Accelerating the development of strategic emerging industries, high-tech SMEs in the 12 th five year plan play a crucial role in promoting the healthy development of Chinese economic in the new period. Support strategic emerging industries, improve production capacity and accelerate the formation of the core competitiveness of China’s economic development pattern has become an important strategic choice. Venture Capital as an important channel for financial intermediation innovation activities, and its active role in promoting the growth of start-ups and high-tech enterprise development has been widely recognized. On the other hand, active technological innovation activities raises more demand for venture capital, and promote the prosperity of the venture capital industry. Therefore, the development of technological innovation and venture capital is more consistent rhythm.In this paper, document analysis, theoretical and empirical analysis of deductive reasoning. Through literature review and sort of found differences in the impact of the current research on the micro-level Chinese venture capital and enterprise innovation ability, and the study is not sufficient. With the arrival of the new economic normality, the economic development requires the development of high-technological industry, furthermore the establishment of a national 40 billion industry-guidance fund, provide huge space and opportunities for the development of venture capital. Facilitate innovation in the early and mid- entrepreneurial corporate can improve the survival rate of technology projects. Risks related to investment issues affecting the enterprise innovation ability will be a hot topic for some time. On the basis of literature analysis, this paper attempts to venture capital and enterprise innovation ability of the theoretical interpretation of the derivation mechanism. Finally, use regression analysis to examine the influence of venture capital on enterprise innovation ability. The study found the influence of venture capital on enterprise innovation capability is not significant. Otherwise, R & D intensity is core elements of improve the capacity of innovation, combined with a corporate R & D investment in human capital is to enhance the technical strength of the critical path. No contribution to innovation capability mainly caused by short-sighted venture capital.