National viable risk investment plan should be in the case of existing funds and investments to make key arrangements.
First, as a country, should focus on attracting experienced venture capitalists and venture capital funds.
Experience the risk of investors to explore opportunities, and venture capital funds in the operating system and has a mature management personnel. venture capital management is a very complicated matter, experience important than money, it has an irreplaceable role. Meanwhile, venture capitalists funding also brings enterprise help and discipline, they are in actual competition are needed. by the government to finance high-tech enterprises, venture capital can not replace. On the contrary, I see the government-funded Hong Kong, China's high-tech enterprises, due to lack of market discipline and pressure, often become a successful example.
short-term plan to deal with specific amounts and target funds. For example,
first-year goal: in the software / IT industry, the risk of an increase of 1 million dollars Fund (2004 U.S. venture capital is the amount of 1.74%, compared to China in 2004 grew by 73%).
second year goal: in the software / IT industry increased by 1.8 billion dollars of venture funds (2004 the amount of U.S. venture capital 3.13%, compared to China in 2004 grew by 211%).
third objective: the software / IT industry to increase 324 million dollars in venture capital (VC 2004, the amount of U.S. 4.59%, compared to China in 2004 grew by 459%).
key to this process is to share risk and low tax rates to attract experienced venture capitalists. the Chinese market is huge, and now the low cost of technical staff (10, 20 years later may be expensive, but very cheap), or for the risk investors have great appeal. The state should make good use of this advantage, combined with a preferential policies to attract more experienced the risk of investors. from international experience, tax incentives to promote the development of venture investment organizations the most powerful tool. But the the burden of more than 10% of income, higher than most other industry standard 8% more than .50% of the venture capital sector the proportion of income tax accounted for 7% tax paid. As the main income of VC capital gains and dividends, capital Profits Tax is extra on the venture capital sector and a heavy burden. In addition, foreign exchange control policies need to be further relaxed to promote multi-level capital market system construction projects, improve the venture capital business investment exit mechanism and other methods, in order to stimulate risk Investment in China's investment activities.
According to relevant survey, China's venture capital investments are more likely later. In the past voted for the risk of investment is not profitable now, but 3 to 5 years will generate huge profits of the enterprise. now risk become very cautious investment companies, venture capitalists in Silicon Valley there was clearly said that they first look at the direction of investment, and the other is to see whether this company a profit for 3 consecutive years. But China is now the situation is that software companies have been the end of 2004 reached 9,000, the small scale and very much in the initial period. So for start-up of small and medium software enterprises in China for venture capital to get really difficult. Therefore, the state would also like to see some private investors ; angel investors, , the profits of China's software enterprises will naturally be greatly increased. But the future of enterprises is the responsibility of the enterprise itself, and not someone else's responsibility. enterprises should work hard, first create a world-class quality products to the business plan based on the well, and the State work together to attract experienced venture capitalists.
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Related Topics:
Theme I: Comparison of U.S. software venture capital
Theme III: Chinese software companies to attract venture capitalists Cheats
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