国家自主创新示范区风险资本政策相关问题与对策

Relevant Problems and Solutions of Venture Capital Policy in National Innovation Demonstration Zones

国家自主创新示范区(以下简称“自创区”)是我国加快高新技术产业发展及相关体制机制创新的先行先试区域,也是我国实现高质量发展的突破口。自创区自成立以来,便承担着深化科技金融改革创新试点的重任。科创板上市公司作为国家科创型企业的杰出代表,其数量、规模、含风险资本比例及风险资本含量等指标,可作为衡量自创区创新能力及风险资本政策实施效果的重要内容。通过对各自创区科创板上市公司情况进行统计分析,结合实地调研,发现各自创区在风险资本及其相关政策方面存在引导基金效率低、投资决策周期长、政策配合程度差和自创区间风险资本发展不平衡等问题,并提出加快推动引导基金市场化、针对不同发展阶段的项目特点制定差异化的风险资本政策、构建基于风险资本的组合政策体系和加强各自创区间的学习交流等对策建议,为相关部门制定政策提供智力支持和决策参考。

The national innovation demonstration zones are advance areas of our country whichwill accelerate the development of high and new-tech industries andenhance the innovation of related system and mechanism,also are breakthrough to achieve high-quality development of our country.Since its establishment,the national innovation demonstration zones undertake the important task of deepening financial reform and innovation experiments for technology.The companies listed on the science and technology innovation board are outstanding representatives of tech innovative companies,the indicators such as quantity、scale、proportion which have venture capital and ratio of venture capital can be the important contents for evaluating the innovation ability and implementation effect of venture capital policies of the national innovation demonstration zones.Based on the statistical analysis of the companies listed on the science and technology innovation board which located in the national innovation demonstration zones with field research data,the article discovered the problems in venture capital and related policies of the national innovation demonstration zones such as inefficiency of guidance funds、long decision cycle of investment、lack of cooperation of policies and unbalanced development of venture capital among the national innovation demonstration zones,the article puts forward suggestions to accelerate the marketization of guide funds、develop differentiated venture capital policies according to the project characteristics of different development stages、construct the portfolio policy system based on venture capital andstrengthen the learning and communication of each national innovation demonstration zone,the suggestions will provide intellectual support and decision-making reference for relevant departments to making polices.