中小高科技企业风险投融资渠道的国际比较及借鉴

International Comparison between Risk Investment and Financing of Medium and Small-sized High-tech Enterprises and Use for Reference

风险投资是一条适应中小高科技企业高投入、高风险、高收益特点的可供选择的融资渠道。本文分析比较了美国、日本、英国、台湾等国家和地区利用风险投资融资的成功经验与做法,提出了构建我国的风险投资法律支持系统、风险投资基金向民间资本投资过渡、进一步实行税收优惠政策、制定政府采购政策和理顺风险投资的退出渠道的建议。

Risk investment is a good alternative financial channel for medium and small - sized high - tech enterprises with a nature of high input, high risk and high profit. This paper analyzes the successful experiences in U. S. A., Japan, Britain and Taiwan etc., suggesting that we should make efforts to construct legal supporting system, transfer risk investment fund to private capital, implement favorable tax system, formulate government procurement rule and build risk investment quit channel.