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信息经济的不断渗入,使得以技术为关键的高新产业逐渐占据当代新经济的主导地位,但高新产业的成长周期漫长,风险极大,成功率表现出较大的模糊性和不确定性。而作为和高新产业紧密联系的风险投资,它在提高技术成果转化率方面扮演的角色越来越显著。本文从风险投资对高新产业的作用机理出发,基于行业和企业两个层面,分别以医药行业和Yahoo!为例详细论述风险投资在其成长周期内所发挥的作用。
With the constant infiltration of the information economy, high-tech industries with technology as the key gradually occupy the dominant position of the contemporary new economy. However, the long-term growth cycle of high-tech industries is extremely high, and the success rate shows greater ambiguity and uncertainty. As a risk investment closely linked with high-tech industries, it plays a more and more significant role in increasing the conversion rate of technological achievements. This article starts with the mechanism of the role of venture capital investment in high-tech industries. Based on the industry and the company’s two levels, the pharmaceutical industry and Yahoo! are used as examples to elaborate the role of venture capital in its growth cycle.