| As one of China’s strategic emerging industries,the biomedical industry is an important force to deal with emerging infectious diseases and the acceleration of the aging process of China’s population.Strengthening the in-depth research and development of innovative technologies in the biomedical industry is conducive to promoting the strategy of "healthy China".At present,venture capital is an important source of funds to support the technological research and development of biomedical enterprises.Joint venture capital has become the main investment mode of venture capital institutions and formed a network.Therefore,it is of great significance to explore the evolution characteristics and influencing factors of joint venture capital network in biomedical industry for optimizing resource allocation efficiency of venture capital in biomedical field.Based on the analysis of the development process of the biomedical industry and its current situation of venture capital,this paper uses the data of joint venture capital of the biomedical industry from 2006 to 2021 to build a network,and uses the social network analysis method to explore the evolution characteristics of the network from three aspects: the overall characteristics of the network,the individual characteristics of the network and the core-edge structure characteristics.Based on the stochastic index graph model,the influencing factors of network evolution were analyzed from the three aspects of network endogenous structure variable,node attribute variable and network covariable,and the following conclusions were drawn:In terms of network evolution characteristics,the density of venture capital network of biomedical joint industry is low,there is local agglomeration,good connectivity,and the connection breadth is on the rise.The influence and resource control ability of most nodes in the network have been improved to some extent.The network gradually presents a core-edge-semi-edge structure,and there are fewer venture capital institutions in the core area.In terms of registration place,venture capital institutions are mainly in China.In terms of capital sources,venture capital institutions are mostly composed of Chinese capital or foreign capital.In terms of the influencing factors of network evolution,it is found that the joint venture capital network of biomedical industry has transitivity,and the star structure has a certain inhibitory effect on the evolution of the network.During the COVID-19 pandemic,the government background,industry specialization,location advantage and foreign capital background of venture capital institutions gradually positively affected the evolution of the network,while reputation had a small negative impact on the network.At the same time,venture capital institutions with high degree of industry specialization appear the phenomenon of strong alliance,while venture capital institutions with high reputation tend to cooperate with partners with low reputation.Geographic proximity and social proximity play an active role in the evolution of networks.Finally,based on the above conclusions,from the level of venture capital institutions and government,put forward the optimization of the biomedical industry joint venture capital network recommendations.In terms of venture capital institutions,the joint venture capital network of the biomedical industry can be optimized by improving the strength of venture capital institutions themselves,improving the trust among partners,and reasonably setting up venture capital branches.On the government side,the quality of the joint venture capital network in the biomedical industry can be further improved through three ways: government-led cooperation with high-quality foreign venture capital institutions,the establishment of policy subsidies to encourage the "strong and weak" match between the two investors,and the establishment of an official website for investment and financing in the biomedical industry. |
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