Research On The Choice And Effect Of Introducing Venture Capitalinto IC Equipment Enterprises

Since its emergence,venture capital has been regarded as the "booster" of technology development and enterprise growth.Venture capital has developed rapidly since it entered China in the 1980s.By 2018,the number of venture capital institutions in China has reached 2800,and the total capital of venture capital management has reached 917.9 billion yuan,venture capital has become an important force to support the development of high-tech enterprises.IC equipment industry is a typical high-tech industry with high technical threshold,large capital demand and strong customer barriers.It is difficult for IC equipment enterprise to stand in the fierce market competition only relying on its own strength,so it needs the support of external forces.Venture capital is characterized by high risk preference,rich investment experience and extensive resource network,which is very suitable for IC equipment enterprises.Therefore,it is of practical significance to study the process of introducing venture capital into IC equipment enterprises for the development of IC industry.Based on shareholder activism theory,value-added service theory and resource-based theory,this research selects IC equipment enterprises as the research object.This paper expounds the characteristics of different types of venture capital,analyzes the motivation of introducing venture capital into IC equipment enterprises,the way and effect of venture capital affecting the integrated circuit enterprises.This paper analyzes the process of introducing venture capital into Changchuan Technology Co.,Ltd.The author found that venture capital can support IC equipment enterprises from the aspects of capital supply,corporate governance,technological innovation and business development.Firstly,when the enterprise is in the start-up stage,based on the motivation of alleviating capital pressure and improving corporate governance,the enterprise is suitable to introduce independent venture capital.Secondly,when the enterprise is in the growth period,based on the motivation of scale expansion,market expansion and market competitiveness,IC equipment enterprises are suitable to introduce government venture capital.Thirdly,venture capital can promote the growth and development of IC equipment enterprises.In addition to financial support,independent venture capital can also provide value-added services in finance,management and social network for IC equipment enterprises,while government venture capital can provide scarce resources such as political resources,industrial resources and industrial influence for enterprises.Finally,this paper puts forward some suggestions on the introduction of venture capital into IC equipment enterprises.