Study On Cooperation Efficiency Of Technology Business Incubator And Venture Capital Based On Ecological Science

As an important constituent part in Chinese innovation system,high-tech business incubator has played a significant role in the aspects such as supporting healthy development of small and medium technology enterprises,speeding the update of Chinese Industrial structures,keeping the steady increase for regional economy,and driving the wide employment in regional population.The high-tech business incubator by every country was firstly designed to support the new enterprises and entrepreneurs,encourage public start-up with innovation,and enhance their abilities of technology innovation,which embodied incubator with strong property of public welfare.Therefore most incubators are state-owned or non-profitable.We can learn from the successful operation experience of developed countries such as America.Israel,Finland and so on,that:the non-profitable property of incubator does not affect the quality of incubation service for start-up enterprises;the incubator can still provide high-level service for new start-up enterprises,only if it can integrate internal and outer resources efficiently and form high-efficient innovative Eco-system.Wherein,the core system of incubator’s value-added services is reflected in financial support and professional incubation,especially in providing financing service for incubated enterprises and solving the financial problems of start-up enterprises in time,and increasing the survive rate of start-up enterprises.More than 90%of technology enterprise incubators are funded and managed by the government,with the form of public institution,whose daily operations rely on the full or balance allocation from government.These incubators have low operating efficiency,lack high-quality professional management personnel.They mainly provide incubated enterprises with fundamental services such as physical space,public facilities,property management and policy guidance,which cannot meet the needs of start-up enterprises for professional services including financial supports and management consulting.Therefore,it becomes the starting point that how to learn from foreign countries,motivate these incubators,and form incubators with sustainable development abilities.Venture capital investment,as new emerging financial innovation,based on its strong financial strength and advanced management experience,has become the first choice on the cooperation of financing service for incubators.With technology enterprises’ incubators and venture capital investment as the research objective,this paper,on the basis of the principles including optimization of resources allocation and complementary elements advantages,on the one hand analyzes the feasibility of the cooperation by technology enterprises’ incubators and venture capital investment and the cooperative modes,and establishes eco-system for technology enterprises’ incubators which provides the theoretical basis for the efficient innovative eco-system;on the other hand,with DEA assessment mode,by building the assessment system for the cooperative efficiency of technology enterprises’ incubators and venture capital investment,it studies the influences of the cooperation on operation efficiency of incubators,finds out the factors which restrict the deep cooperation by technology enterprises’ incubators and venture capital investment,and proposes corresponding perfecting measures,thus providing the county with certain reference on the formulation of related policies.Chapter One:Introduction.Introduce the research background,meaning,results on national and international incubator and VC(venture capital investment)cooperation,contents,methods and the innovative points and weak points of this paper.Chapter Two:Definition and Theory Basis.The paper starts with definition of the case technology incorporation Incubator and VC in detail.It illustrated the economics evidence for Incubator and VC and relevant theory of technology innovation ecosystem.Chapter Three:Analysis on merging Incubator and VC based on concept of ecosystem.According to the principle of maximally utility of resources under ecosystem conception and elements of complementary with each other edges,it analyzed the feasibility of merging Incubator and VC and its cooperation mode.The research shows there is possibility and necessity of merging Incubator and VC.And the internal cooperation is far better in resources utility than external one.Merging of the two is the trend for further cooperation of Incubator and VC.Chapter Four:Case Study on efficiency of cooperation between technology incorporation Incubator and VC.This chapter applies BCC model of input-orientation in DEA model.Based on the features of ecosystem theory and technology incorporation Incubator,it made assessments on the efficiency of cooperation between Incubator and VC via setting the Incubator effectiveness evaluation system and its indicator values.Take Incubators of 56 national technology companies with VC funds from Beijing and Northeast of China for example,the results indicated that all 56 national technology Incubators are running well and the non-effective incubator rates is really low.And the overall sound operating is an evidence for the high efficiency of cooperation between Incubator and VC.Chapter Five:Policy and Suggestions.For the problems in the ineffective technology companies incubators,this paper has put forward the following suggestions for its sustainable development:enhance the encourage and guide role of the government,realize professional VC management and enlarge the scale of cultivation for comprehensive talents or improve the multilevel capital markets constructions.The innovation points in the study on technology companies Incubator and VC are as below:(1)From the perspective of merging of Incubators and VC,it analyzed the elements and operating system of technology companies Incubators.And it is designed for contributing to an original ecosystem with high efficiency for Incubators and providing theory support for its sustainable development.(2)It used the DEA,comparative efficiency mode,to build an evaluation system based on the ecosystem conception and took sample Incubators from 56 national technology companies.And it will make assessments on the merging efficiency of Incubator and VC in practice and provide new method for case study on their cooperation working system.