| Shanghai high-tech industry total revenue reached1.125trillion yuan in2010, local government finances were arranged in science and technology expenditure of20.203billion yuan, and society as a whole R&D investment to GDP ratio of2.82%, the Shanghai government in R&D investment accounted for up to56%. Shanghai’s high-tech industries in other regions such as Silicon Valley in the United States in the face of such a high intensity of government investment and R&D funds invested, the more obvious differences. High-tech industries to nurture the development, expansion and upgrade process is to include a variety of factors such as capital, talent, technology and market mechanisms to support integrated systems engineering. Allocation of social resources in today’s social, technical, human resources and funding is essentially the capital allocation, and allocation of capital to complete the financial markets. Body part, the high-tech industry life cycle theory, refinement of the Seed Stage、Startup Stage、Growth and Expansion Stage、Bridge Stage at different stages of the venture, through a comprehensive analysis of the composition of the system of financial support as well as various stages of the high-tech industry investment and exit mechanism, System of financial support for high-tech industries existence of the lack of angel investors section, lack of venture capital. Then comparative analysis of the financial support system of the U.S. high-tech industries, giving relevant recommendations from the four aspects of capital markets, financial markets, government investment mechanism and the comprehensive service building, hope to provide reference for the development of high-tech industries in Shanghai. |
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