以色列风险投资产业发展经验及借鉴

Development of Israeli Venture Capital Industry and Its Lessons

本文介绍了以色列风险投资产业的发展历程及主要特点,总结了以色列成功发展风险投资产业的若干重要经验,这些经验对我国具有重要借鉴意义。20世纪70-90年代以色列高科技及风险投资产业发展取得了举世瞩目的成就,主要原因是以色列政府采取了一系列有效的鼓励创业企业发展以及扶持风险投资产业发展的组合政策。在此过程中,以色列政府一方面注重发挥政府的积极支持作用,另一方面也通过合理制度设计充分发挥市场机制作用,促使本国风险投资产业与国际市场高度融合,建立了创业企业与风险投资产业良性互动、协调发展的局面。

This paper introduces the history and main characteristics of Israeli venture capital industry,showcasing several successful experiences of the Israeli government to promote the development of venture capital.Those experiences should be instructive for other countries to set up policies to develop their own venture capital industry.From 1970s to 1990s,Israel had achieved great success in high-tech startup and venture capital industry by setting up a series of effective policy instruments to support high-tech start-up activity and the development of venture capital industry.During this process,Israel highlighted government support while allowing the market to play a role within a sound framework,thus effectively pushing the local venture capital industry to dock with the international market.Therefore,Israel has formed a positive co-evolution system between high-tech startup activity and venture capital industry development.