Analysis On Sptial Agglomeration And Its Influencing Factors Of China’s Venture Capital

The decision of developing the strategic new industries has issued by the State Council in 2012. We should be in accordance with the requirements of scientific development concept, to accelerate the transformation of economic development mode, focusing on fostering strategic emerging industries and promote the transformation of scientific and technological achievements into real productive forces actively. The national science and technology department of China proposes that our country will set up the national innovation system, focus efforts to cultivate and develop strategic new industry. Venture capital industry is an indispensable engine and propeller of the industrialization of new and high technology, the ability of independent innovation, the development of the real economy by expanding the scale of direct financing. Against such a background, venture capital becomes a hot topic, and its regional cluster characteristic is also a meaningful and rewording research.With the theory of Finance, Regional Economy, Industry Economy and so on, this paper does a deep research of regional cluster and its factors of venture capital by using qualitative and quantitative ways.Frist of all, I discussed explicitly about theory on domestic and foreign theory of regional agglomeration, and found out the present scholars for regional agglomeration phenomenon as well as the formation mechanism of various discussions, summed up the three different theoretical paradigms: space approaching theory, environmental support theory and symbiosis theory.Secondly, I analyses the venture investment regional agglomeration of Europe and the United States, and the overall situation of China’s venture capital and regional centers. Comparative analysis it is concluded that both the source of capital, national policy, financial system, to model the five aspects of different industry and area.Finally, based on the above theories, this paper has found out the main factors influencing the venture investment in China regional agglomeration as the independent variables, and combined with the concept of location entropy construct measure metrics of venture investment in China regional cluster as the dependent variable, build multivariate linear regression model.The empirical analysis of this paper includes two aspects: firstly, classify 27 Provinces into 3 sorts by using hierarchical clustering methods, according to their development levels of venture capital; then, define an index of venture capital’s regional development; last but not the least, the paper derives two metric models focusing on the venture capital’s regional cluster and its factors. The following conclusions:High technology enterprise with rich area basis can promote the development of venture investment; high technology talents converging region to attract venture capital inflows; the financial development level was positively related with venture investment activity; government support for venture investment area choose to have important influence. I put forward some politic recommendations to boost our country’s venture capital based on the academic analysis and positive results: developing high tech industry; promoting the accumulation of human resources and the development of financial markets; increasing government investment in science and technology.