The Study Of Venture Capital Evaluation System In The Area Of High And New Technology Of Tianjin

In the period of the Eleventh Five-Year Plan, Bohai Coastal Area will be our country's main economic growth polar. In the Bohai economic circle the center of Tianjin has shouldered the significant historic tasks in its self building into a modern international harbor metropolis and an important economic center in north China. To speed up economic development and achieve this historic task, the introduction and development of high-tech is essential. The development of high-tech enterprises, especially private small and medium-sized high-tech enterprises, because of its high-risk, is facing the financing predicament. In view of the characteristics of investment risk, high-tech enterprises can not develop without the support of venture capital. According to the viewpoint of system analysis, with the application of Analytic Structure model we can find out that the deep-seated reasons affecting the development of the venture capital industry in Tianjin is external reasons. In addition there is another important reason, that is, because of the high-risk of venture capital industries, private capital can not get involved in making this industry. How to effectively reduce the risk to attract more attention becomes the concern of issues requiring urgent solution. From the analysis of venture capital process we can see that the establishment of a sound venture capital evaluation system can be effective risk prevention and can reduces the risk from the source of venture capital. Referring to the overseas research results, based on the development of Tianjin's developing status quo, this paper construct comprehensive evaluation system thus make choice from venture capital projects by using appropriate evaluation methods, choosing feasible evaluation criteria and using the way of combination of theoretical analysis and an example confirmation.First, this paper establishes a risk evaluation index system and benefit evaluation index system on the basis of the analysis of the risk characteristics of venture capital. The selection of indicators as far as possible reflects the actual situation in China.Secondly, the use of fuzzy comprehensive evaluation is to evaluate the risks and benefits and calculate the value of risk assessment and evaluation of effectiveness.Finally, the paper uses certain mathematics method for comprehensive evaluation of the risk and the benefit and comprehensive evaluation values in order to make choice from numerous projects. This paper uses a case to confirm this process.