创业投资引导基金作用下中小企业商业模式创新的策略演化研究

Strategy evolution for SMEs’ business model innovation with the support of government venture capital guiding fund

在创业投资引导基金参股创投机构成立子基金的运作模式下,借助Stackelberg竞争模型与Cournot竞争模型,运用演化博弈理论分析具有成本差异的中小企业获得子基金投资后,在长期的市场竞争中商业模式创新策略选择的演化稳定均衡.模型解析和仿真分析结果表明:引导基金子基金投资是推进中小企业进行新颖型商业模式创新的有效措施,否则,企业倾向于选择效率型商业模式创新;当两种商业模式创新策略下的中小企业获得的子基金投资额差距较大、政府和创业投资机构提供的资源和决策支持力度较大时,中小企业选择新颖型商业模式创新的概率增大,反之,企业选择效率型商业模式创新的概率增大;在产品潜在市场规模较大、竞争对手间产品替代性较大、以及产品价格弹性较小的情形下,中小企业群体更倾向于选择新颖型商业模式创新,反之,企业倾向于选择效率型商业模式创新.相关结论可以为政府引导基金的运作管理以及引导基金扶持下的中小企业创新和发展提供决策支持.

Under the operation mode of government venture capital guiding fund(GVCGF) investing in venture capital institutions establishing sub-funds,this paper studies the evolutionary stability and equilibrium of the choice of business model innovation strategies in the long-term market competition of small and medium-sized enterprises(SMEs) with cost differences after obtaining sub-fund investment through evolutionary game theory,with the help of Stackelberg competition model and Cournot competition model.Model analysis and simulation analysis results show that the sub-fund investment with the background of GVCGF is an effective measure to promote the novelty-centered business model innovation by SMEs.Otherwise,enterprises tend to choose the efficiency-centered business model innovation;When the sub-fund investment amount obtained by SMEs under the two business model innovation strategies is relatively larger,the resources and decision support from the government and venture capital firms is larger,the probability of SMEs choosing the novelty-centered business model innovations will increase.Conversely,the probability of SMEs choosing the efficiency-centered business model innovations will increase;Under the circumstances of relatively larger potential market scale of products,larger product substitution among competitors and smaller product price elasticity,SMEs are more inclined to choose the novelty-centered model innovation strategy.On the contrary,enterprises tend to choose the efficiency-centered business model innovation strategy.The relevant conclusions can provide decision support for the operation and management of the government guidance fund and the innovation and development of SMEs supported by the GVCGF.