| 2021 is the first year of China’s "14th Five-Year Plan",and the unprecedented international environment,coupled with the large-scale outbreak of the new crown pneumonia epidemic around the world,has further intensified politics around the world and aggravated various contradictions between economic and social development.In such a complex and diverse international environment,the Beijing Stock Exchange launched in a timely manner to raise funds for "specialized,specialized and new" small giant enterprises,and this series of policies will help the continuous development and growth of the venture capital market.With the continuous breakthrough of scientific and technological innovation in China,more and more small and medium-sized enterprises choose to achieve rapid growth by introducing venture capital.At the same time,after more than 20 years,the Chinese corporate venture capital market has begun to take shape,with more than 800 institutions,and has become an indispensable backbone of China’s capital market.The research methods adopted in this paper are literature research method and case analysis method,using Xiaomi Technology as a case company,based on the perspective of investment company Xiaomi Technology,taking resource base theory,dynamic ability theory,knowledge base theory and synergy effect theory as the theoretical basis for paper writing,through reading and understanding the relevant literature of corporate venture capital,and then combined with the actual business development of Xiaomi Technology,the investment status and investment motivation of Xiaomi Technology for corporate venture capital are analyzed.Then,the impact of Xiaomi Technology’s venture capital activities on innovation performance was analyzed,and then the effect of implementing venture capital was analyzed in detail。Xiaomi Technology mainly promotes the exploratory innovation of enterprises through the path of "investment +incubation,shareholding without control".Focus on the future growth of the enterprise,and increase the new innovation ability by learning new knowledge.And pass the way to invest in the later stage of the invested enterprise to enhance the utilization innovation of the enterprise,Focus on the company’s current existing products or services,and improve the quality of the company’s current products or services by improving and optimizing the existing technical resources。 As a result,the innovation of corporate venture capital to enterprises is derived performance There is a promoting effect.Under such a mechanism,the investment enterprise through "Investment + incubation",as well as financing in the later stage,attract innovative talents to join the team,accelerate the transformation of technological achievements,improve the research and development rate,continuously launch new and better products and services,broaden the application market,increase market share,and also obtain rich financial benefits.It also provides support for the rapid and healthy development of enterprises. |
