Research On Domestic TMT Industry Venture Capital Project Evaluation Based On Three-dimensional Evaluation Model

Along with the rapid development and the popularization of Internet technology in the world, the network has been overturned thoroughly the traditional pattern of people's lives, business model, even thinking mode.TMT, a integration of three areas including science and technology, media and communication, is also convenient. In developed countries, the venture capital in TMT industry is comparatively mature, developed high-quality companies such as Oracle, Amazon, Facebook etc.. Internet venture investment in China has experienced the foam at the end of last century, also experienced the cold and cheerless of financial crisis in 2008. But given its potential future, venture capitalists renewed enthusiasm for the industry in recent years.Under the new market environment, investment environment, how to evaluate the value of the TMT project investment has become a big problem facing risk investment institutions.Thus, this paper constructed a set of evaluation index system of TMT industry project accord with the situation of China.This paper studies the status and the concept of risk investment and TMT industry, explore the characteristics of TMT industry and the status of risk investment in TMT. On the basis of research and analysis the existing venture capital project evaluation, combining with the characteristics of TMT industry and integrated into the analysis of classic cases and expert questionnaire etc.,this paper builds a evaluation index system of TMT industry suitable for venture capital project.Then uses the AHP method and expert evaluation method to confirm the weights. At the same time, introduces a three-dimensional evaluation model. Finally on the basis of the constructed evaluation index system, using the three-dimensional evaluation model, examines these two test cases, analyses its advantages and disadvantages, and presents the integrity process of using this system and model to evaluate a TMT project.The results show that it is significant to build a suitable set of evaluation index system and model of venture investment about the TMT industry under the present stage. The paper chooses four aspects to build the index system.Among these indexes, entrepreneur and team is the most valued factor by risk investment institutions, next is the core competitiveness of the project itself, The market and technology rank late relatively. So the sorting of weight reflects the difference between present domestic TMT industry financing status and previous times. Besides, three-dimensional evaluation model is fit for measuring the projects of venture capital in TMT industry, and it owns the superiority of evaluating by combining qualitative research and quantitative research.