| 黄造玉,黎晓奇,王 灿.中国初创期科技型企业融资特征与需求研究
——以中国创新创业大赛参赛企业为例[J].全球科技经济瞭望,2025,40(8):62~69 |
| 中国初创期科技型企业融资特征与需求研究
——以中国创新创业大赛参赛企业为例 |
| Study on the Financing Characteristics and Financing Requirements of China’s Tech Startups: Taking the Participating Companies in the China Innovation & Entrepreneurship Competition as an Example |
| 投稿时间：2025-05-26 |
| DOI： |
| 中文关键词: 初创期科技型企业；融资特征；融资需求；股权融资；债权融资 |
| 英文关键词: tech startups; financing characteristics; financing requirements; equity financing; debt financing |
| 基金项目: |
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| 摘要点击次数: 23 |
| 全文下载次数: 21 |
| 中文摘要: |
| 国家重视科技企业融资，提出把支持初创期科技型企业作为重中之重，分析初创期科技型企
业融资情况具有重要意义。基于第十一届中国创新创业大赛参赛企业数据，对初创期科技型企业的
融资特征与需求进行分析。研究发现，在融资特征方面，企业融资情况体现政策导向，初创期科技型
企业有融资经历的比例更高，股权融资是其主要融资方式；创新实力强的企业更受资本关注；企业获
股权融资比获债权融资情况表现出更大地区差异。在融资需求方面，样本中约 50% 的初创期科技型
企业有融资需求，对股权融资的需求大于债权融资，成立时间越短的企业融资需求越旺盛。加强初
创期科技型企业融资的政策供给需要更加注重宏观统筹协调，在用好企业划型标准的基础上，强化
政策工具的集成与组合应用 |
| 英文摘要: |
| China attaches great importance to support tech startups, and it’s of great significance to analyze the
financing situation of them. This paper analyzes the financing characteristics and financing requirements of tech
startups based on the data of the 11th China Innovation & Entrepreneurship Competition. Our findings revealed the
followings: In terms of financing characteristics, the financing situation of enterprises reflects policy orientation. Tech
startups have a higher proportion of financing experience, and equity financing is the main types. Tech startups with
strong capacity of innovation receive more attention from capital. The situation of obtaining equity financing shows
greater regional differences compared to debt financing. In terms of financing requirements, nearly half tech startups
have financing requirements, which mainly towords equity financing than debt financing, and tech startups with
shorter establishment time have the stronger financing requirements. Intensify policy support of financing for tech
startups requires overall planning and coordination, implementing a mix of policy measures and the combination of
policy tools, on the basis of applying enterprise type standard policies effectively |
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