Evaluation Of ZK Company's Investment In Military And Civilian Integration Small And Micro Enterprises

Venture capital investment is an investment behavior that provides equity capital to newly-established enterprises or small and medium-sized enterprises with great development potential,so as to obtain capital appreciation income after the venture enterprises are mature or relatively mature.The development history of China's early venture capital industry is short,and there is not enough theoretical support.Most investors rely on personal experience and intuition when making project decisions.The unscientific nature of this kind of investment increases the risk of investment.The key to successful incubation of military and civilian science and technology lies in whether it is recognized by the market.However,a large amount of manpower,material resources and funds are needed in the process of transformation from technology to products recognized by the market.At present,it is difficult for the investment incubation system to form a long-term and stable support mechanism.ZK company is an early investment institution.How to screen high-quality small and micro businesses integrating military and civil affairs for incubation investment and improve investment efficiency has become a practical problem faced by ZK company.In this paper,we study focused on three aspects: first,the domestic venture capital institutions for project selection criteria is not very mature,by studying the venture investment related literature,comb out the general evaluation index,analysis of problems existing in the current index to evaluate the ZK company,combined with the company intends to invest the development direction,analyze the current situation of the development of China's military technology to civilian,preliminary evaluation indexes are obtained.Second,through questionnaire investigation,using factor analysis method to modify indicators,finally from six dimensions(organizational environment,management team,market factors,the industrialization of technology achievements,the relationship between the government and policy,partner),21 secondary indexes(including military and civilian integration difference index: asset specificity,the production of the sex,should demand resilience,technical evaluation,development and market positioning,and actively advocate cultural)optimizes the investment in military and civilian integration small micro enterprise evaluation index,based on AHP and fuzzy comprehensive evaluation method to establish evaluation model.Thirdly,ZK company scores the investment projects with the new evaluation system and concludes that both A and B projects meet ZK's investment expectations,thus verifying the effectiveness of the indicator system.This paper provides financing opportunities for the survival and development of small and micro enterprises integrating military and civil affairs and provides a basis for venture capital investment institutions to timely and correctly select low-risk and high-return investment projects and promote the development of venture capital investment.