创新基金的成功运行给我国政策性创业投资的启示

Enlightenment of the Successful Operation of Innovation Fund over Policy-based Venture Capital of our Country

通过对我国创新基金和政策性风险投资的政策效果对比分析,认为资金的来源与资金的运行效率没有必然的联系,只要有良好的运行机制做为保障,政策性资金也可以高效率地运行。完善的治理结构是政策性基金健康运行的组织保障机制,建立科学的评价指标体系是规范政策性基金运行的关键。

By contrasting the policy effect resulted from innovation fund and policy-based venture capital in our country, this paper holds that the source of capital has no direct relationship with the operational efficiency of capital, and the policy-based capital also will be operated efficiently only if it has a superior operational mechanism as the guarantee. A perfect governing structure is an organizational-assurance mechanism to maintain the healthy operation of policy-based fund. Building up a scientific system for evaluation is the key to normalize the operation of policy-based fund.