Venture Enterprise Relationship Network And Venture Capital

In the context of China's transitional economy,in order to promote the implementation of innovative national strategies,the wave of “mass entrepreneurship and innovation” has emerged,and innovation and entrepreneurial activities have gradually become an important engine for China to maintain economic vitality;entrepreneurs as an important carrier of innovation and entrepreneurship in nationals It plays a pivotal role in economic development and provides new impetus for innovationdriven economic transformation,thus helping China to cross the middle income trap.However,in the process of vigorous development of the dual-invasive activities,the start-up enterprises are limited by the double dilemma of “inner hematopoiesis and external blood transfusion difficulties”,and it is difficult to escape the “death trap”,in order to solve the growth bottleneck of the startup enterprise,throughout the entrepreneurial process.Entrepreneurial enterprises need to continuously obtain funds to maintain the vitality of enterprises;as a key resource,the entrepreneurial relationship network is an important way to help enterprises obtain resources,which can help enterprises to get out of the financing dilemma brought by information asymmetry;to maintain the “blood” flow of entrepreneurial enterprises This paper attempts to study entrepreneurship financing at different stages of development from a perspective of relational networks.Based on the literature research method,this paper sorts out the relevant research and theoretical basis,and explores the impact path of the relationship network on venture financing.It analyzes the different characteristics of the relationship network from the three stages of creation,growth and maturity(relationship strength,network scale,relationship trust).The difference in the impact of venture financing,and then the conceptual model of relationship network and venture financing;finally,through the field research and questionnaire interviews to obtain first-hand data of startup enterprises,using SPSS21 software and other statistical analysis tools to process relevant data and finally draw relevant conclusions:(1)In the Chinese human society,the “relationship” behavior permeates all aspects of the entrepreneur's entrepreneurial process.The entrepreneurial enterprise needs to pay attention to the construction,maintenance and governance of the relationship network.It should actively construct a relationship network and establish direct or external investors.Indirect communication,at the same time,to improve the quality of the relationship network,and use the relationship network to solve the information asymmetry and moral hazard in the financing process of the startup enterprise.(2)In the creation stage,the entrepreneurial enterprise mainly helps the enterprise to obtain financing through the strength of the relationship network.In the early stage of entrepreneurship,it relies heavily on the entrepreneur's individual social capital,ie,the relationship network.This stage tends to “relational” financing behavior,entrepreneurs and investment.The strength of the network between the relationships affects the size of the entrepreneur's access to financing.(3)In the growth stage,the startup enterprises mainly help the enterprises to obtain financing through the scale of the relationship network.In order to obtain continuous financial support,the startup enterprises need to establish direct or indirect network links with more external investors,expand the number of relationship networks,and attract more.Investors pay attention to,and then meet the financing needs of enterprises.(4)At the maturity stage,the entrepreneurial enterprise mainly helps the enterprise to obtain financing through the relationship network trust.Since the startup enterprise begins to pay attention to its own growth and innovation,in order to obtain a larger amount of funds to realize its own operation and development,the network relationship needs to be expanded by quantity.Steering quality is improved.The mature phase relationship network is characterized by complex network transaction relationships,and it is necessary to provide high-quality financing credit guarantees and social reputation to obtain financial support from financial institutions.