风险投资家对高科技初创企业商务模式的评价研究

VCs Evaluation Business Models for High-Tech Start-Ups

商务模式是高科技初创企业在争取风险资金时,风险投资家考察的核心内容之一。通过风险投资家对商务模式的评价、初创企业商务模式设计中存在的问题分析,可以总结出商务模式可以由价值主张、价值支撑和价值保持来表征,按照这样的价值分析体系来进行商务模式的设计,就使得商务模式更具操作性和科学性,同时,也加深了风险投资家对商务模式的理解,更有效地选择初创企业。

Venture capitalists （ VCs ） should treat business models as one of the most important core contents when high - tech start - ups finance from them. This paper provides evidence on how VCs actually evaluate prospective business models, and analyze the existing problems in the design process. Through both analyses, the evidence suggests business models should be expressed by value proposition, value supposing, value maintaining. According to such value analysis system, high - tech start - up can ensure of the operational and scientific business models that help VCs understand it better and more efficiently choose or screen their investments.