Study On Venture Capital And The Development Of High-tech Industries

Nowadays, with economic globalization surging, high-tech has been prevailing in our daily socio-economic life. The competition between nations and between regions has been increasingly based on comprehensive national strength, which lies on economy and is led by high-tech. With the gradually intensified competition in the international market, the efficiency of capital and technology innovation is the main driving force to promote regional economic development. Therefore, we must study venture capital from the aspect of the combination of efficiency of capital and technology innovation to improve the mechanism of high-tech industrial development.There is a close correlation between the venture capital and high-tech industries. The former is the funds backing the development of high-tech industry, and high-tech enterprises at all stages of the life cycle are inseparable from the cultivation and support of venture capital. The industrial development mode of Taiwan's high-tech industries is led by government and private enterprises. Taiwan's high-tech industries, which have achieved a great success all over the world, focus on technology research and development. They rely on small and medium enterprises and cultivate high-tech industry growth pole. Taiwan's venture capital, which has formed a unique model in the aspects of forms of organization, position of government and withdrawal mechanism, is based on the experience of developed countries, and integrate it with the island. It is the most successful model in Asia. Meanwhile, Taiwan has become one of the best venture investment areas, second only to the United States and the United Kingdom. After decades of development, high-tech industries of Mainland China have attained remarkable achievements. However, compared with developed countries, there is still a long way to go. So we can learn from Taiwan the successful experience in establishing interaction mechanisms between venture capital and high-tech industries. We should establish not only a venture capital diversification of the market access system, form a diversified funding sources mechanism, establish more open mechanisms of project source, but also a diversified project withdrawal mechanism of venture capital and perfect the regulations and policies, and speed up the establishment of science and technology zone.