创新企业实现产业融资要过几道关?

How many difficulties do innovative enterprises have to go through before achieving industrial financing?

新疆国力源投资有限公司(简称:国力源)董事长张碧琼用六年时间自投3000多万元、借款一亿元,研发出实现污水零排放的"生物氧化法制浆造纸技术",完成中试并获得新疆建设兵团环保局同意投资建设生产线的一纸批复;又引进朱湘君领头的天使投资3000万元,再次完成中试的全部数据。至此,国力源陷入为产业化融资的窘境。对那些有庞大固定资产或者有很漂亮现金流的企业而言,融资两亿不难,但像国力源这样只有领先技术的产业黑马,融资便是登天的难事。这时的创新企业甚至可能以出让控股权,或无奈之下卖掉核心技术来换取资金,但结果往往不尽人意。如果创新技术具有颠覆、挑战传统产业利益的特质,它可能被实力雄厚的传统企业收购买进并束之高阁;如果他被格局过小的投资人控股,有可能会成为资本炒作的砝码而流于平庸,最后被市场的残酷竞争所淘汰。此时,创新企业的最佳选择应该是找一个与你的格局一致的投融资专家,让他成为股东,由他来为企业设计发展战略和商业模式、为企业融资。张碧琼找到了一位叫余发强的投融资专家并给予他股权和国力源执行总裁职位,代表她行使权力。仅仅一年的时间,国力源不仅融到了产业化制浆造纸的资金,并开始为倒闭的造纸企业提供技术改造。

Zhang Biqiong, President of Xinjiang Guoliyuan Investment Co., Ltd. has brought about the technology of biological oxidation pulping and papermaking to realize zero discharge of wastewater and obtained the approval of investing in the construction of a production line from Xinjiang Construction Corps Environmental Protection Bureau by borrowing RMB100 million and using her own savings of 30 million during the past 6 years. She also completed all the data of the pilot test after the introduction of Zhu Xiangjun led angel investment of RMB 30 million. So far, Guoliyuan has become the plight of industrial financing. Financing of two hundred million is not difficult for companies with large fixed assets or a very good cash flow, while it is prohibitively difficult for Guoliyuan which only has the leading technology industry. If innovation technology has the characteristics of subverting and challenging the interests of traditional industries, then it may be bought by powerful traditional firms and shelved. If it is held by a small investor, it may become the weight of capital speculation and become mediocre, and finally eliminated by the brutal market competition. The best choice for an innovative enterprise is to find an investment and financing expert who is in line with your pattern and who will design, develop strategies and business models for the enterprise, and finance the business as a shareholder. Zhang Biqiong found an investment and finance expert named Eric Ee Huat Kiang and gave him the position of CEO, permit him act on behalf of her and give him an equity interest. Guoliyuan has not only melted into the capital of industrial pulp and paper industry, but also began to provide technical transformation for the failing paper-making enterprises by sharing the hightech achievements created by China in only a year's time.