天使投资与企业孵化器融合发展研究

发布时间：2018-04-18 12:37

本文选题：天使投资 + 企业孵化器　；参考：《安徽大学》2017年硕士论文

【摘要】：天使投资这个词一开始出现于美国纽约百老汇舞台的演出中。而天使投资这个词被投资界所引用则是发生在上个世纪早期:美国新罕布什尔大学的风险投资研究中心正式在学术方面引用天使投资来描述这种特定的投资人及投资方式[30]。现在天使投资这次更多的是指一种投资行为,该投资行为主要是针对初创企业的权益性投资,它的显著特点是单笔投资额较少,总量多[1]。目前我国天使投资也存在着发展瓶颈,天使投资人和创业者之间存在信息不对称问题加大了天使投资发展的难度,因此能否有效解决天使投资和创业者之间信息不对称的问题直接影响天使投资的发展质量。企业孵化器在加快我国科技成果转化的过程中发挥着重要的作用。企业孵化器作为初创企业的平台,承担着创新成果产业化的重任。因此企业孵化器的运营效率的高低直接决定了我国科技发展的速度和水平。我国企业孵化器的经营管理存在政府管理失效的问题,由于目前我国企业孵化器大多都是国家出资设立并委派专人进行管理的,受国有背景的影响,我国企业孵化器管理体制缺乏灵活性,导致我国企业孵化器运营效率低下,严重浪费了公共资源。天使投资和企业孵化器提供服务的主要对象都是初创企业,虽然两者为初创企业提供服务的种类不同,但是它们的目标是相同的,两者都希望通过初创企业的发展壮大来实现自身的价值,因此两者融合存在可行性。本文通过对天使投资和企业孵化器进行比较,发现了天使投资和企业孵化器之间存在的优势互补关系,并以清华科技园为例分析天使投资和企业孵化器融合发展的优势。最后就如何促进天使投资和企业孵化器融合发展提出了对策和建议。
[Abstract]:The term angel investment first appeared on Broadway stage in New York.The term angel investment was quoted by the investment community in the early last century: the venture capital research center of the University of New Hampshire formally quoted angel investment in academic terms to describe this particular investor and investment method.The angel investment this time more refers to a kind of investment behavior, this investment behavior is mainly aimed at the start-up enterprise equity investment, its remarkable characteristic is the single investment is relatively small, the total amount is many [1].At present, angel investment in our country also has the bottleneck of development. The problem of information asymmetry between angel investors and entrepreneurs increases the difficulty of angel investment development.Therefore, whether we can effectively solve the problem of information asymmetry between angel investment and entrepreneurs directly affects the development quality of angel investment.Business incubator plays an important role in accelerating the transformation of scientific and technological achievements in China.As a platform for start-up enterprises, business incubator undertakes the important task of industrialization of innovative achievements.Therefore, the operating efficiency of business incubator directly determines the speed and level of science and technology development in China.The operation and management of business incubators in our country have the problem of government management failure. At present, most of the business incubators in our country are set up by the state and appointed to manage them, which is influenced by the state-owned background.The lack of flexibility in the management system of business incubators in China leads to the inefficient operation of business incubators and a serious waste of public resources.Both angel investments and business incubators provide services to startups, and although the types of services they provide for startups are different, their goals are the same.Both hope to realize their own value through the growth of start-ups, so it is feasible to merge the two.By comparing angel investment with business incubator, this paper finds out the complementary relationship between angel investment and business incubator, and takes Tsinghua Science Park as an example to analyze the advantages of angel investment and business incubator integration and development.Finally, the countermeasures and suggestions on how to promote the integration of angel investment and business incubator are put forward.
【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F276.44;F832.48

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