Venture capital is an important force for finance to promote technological innovation. Governments all over the world attach great importance to the technology-driven development of financial technology represented by venture capital. More than 40 cities around the world have introduced policies or targeted support measures for financial technology, which are based on financial development, technology empowerment or both. Beijing has the foundation of scientific and technological innovation and the advantages of financial industry, which support and promote each other, making Beijing gain the advantages of financial technology development. On March 6th, the state issued a new regulation for venture capital funds to reduce the shares of listed companies, which further loosened the support of venture capital for innovation and entrepreneurship. In this context, developing venture capital and building a global financial science and technology center city is not only an important starting point for Beijing to build a science and technology innovation center and promote high-quality industrial development, but also one of the choices to consolidate the development advantages of the financial industry and enhance its stamina.
Observing the trend of venture capital at home and abroad during the epidemic period can be divided into two stages: one is1from October 20th to February 9th, and 65438+during the Spring Festival; Second, from the beginning of February to the present, the production stage has been resumed. After October 20th, 65438/kloc-0, COVID-19 news was fully fermented in China, which was marked by the second-level response of Hubei's major public health emergencies on October 22nd, 65438/kloc-0. After that, it experienced the traditional Spring Festival holiday and the extension of the holiday. The state extended the Spring Festival holiday to February 2, and some provinces and cities postponed their work to February 9, which was unified into the Spring Festival travel rush stage. After the beginning of February, some provinces and cities outside Hubei began to resume work one after another, which is the stage of resuming work and production.
During the Spring Festival, enterprises are welcoming industry information solutions to deal with the epidemic and investment opportunities in the medical and health industry that people are most concerned about. 65438+1From October 20th to February 9th, there were 169 financing M&A transactions at home and abroad. From the perspective of the distribution of large industries, in order to cope with the impact of the epidemic and prepare for the next normal production and operation, the enterprise service industry became the industry with the most financing mergers and acquisitions during the Spring Festival with 34 transactions. From the perspective of sub-industries, pan-informatization projects such as payment, industry informatization and solutions, and financial informatization are sought after by investors. Followed by non-contact robot projects and biotechnology and pharmaceutical projects of epidemic fermentation. Venture capital institutions such as Tencent and Ali respectively laid out online education, luxury e-commerce and great health, which became representative events. For example, Tencent led the Indian multilingual online education platform Doubtnut and the British luxury e-commerce Farfetch, and Ali Health acquired Tmall Medicine.
In the production stage of returning to work, enterprise services and medical and health industries characterized by online office continue to ferment, and local life around people's living needs has become a new hot spot for venture capital. In February this year, there were 486 M&A financing transactions inside and outside China. From the classification of major industries, corporate services and medical and health industries are the first and second industries with the largest number of M&A transactions, with 99 and 75 transactions respectively. According to the disclosed amount data, incomplete statistics are 2 1 1 billion yuan and 24.4 billion yuan respectively.
Judging from the trend of venture capital in Beijing under the epidemic, since the epidemic was fully fermented on June 20, 65438, as of March 4, there were 6 1 transactions in Beijing, including 9/kloc-0 transactions during the Spring Festival and 42 transactions after the resumption of work on February 9. Generally speaking, it is consistent with the general direction of venture capital at home and abroad. Enterprise service and medical health are the hottest industries, and online office, online education and biomedicine have development advantages.
First, venture capital reflects Beijing's traditional advantages in high-tech industries such as software and information technology services, communications, and a good development foundation in strategic emerging industries such as biomedicine, smart cars, and robots. It also reflects Beijing's gratifying development momentum in the "three new" economies such as e-commerce, local life, and online entertainment. From the distribution of major industries, enterprise service 14, medical health and education 8, intelligent hardware 5 (including robot sub-industry 4), automobile transportation, local life, entertainment, media 4, and new industry 3 (including communication manufacturing 3) are widely distributed.
Second, Beijing online office has development advantages. All nine related sub-sectors of enterprise services have received investment, including four information and solutions, four data services, entrepreneurial services, finance and taxation, enterprise security, enterprise IT services, cutting-edge technologies, etc. 1 sub-sector, covering most sub-sectors, indicating that Beijing has the ecological advantages of online startups.
Third, online education in Beijing has development advantages. The eight venture investments in the education industry cover many sub-sectors such as early education, basic education, higher education, vocational training, language learning, teaching AIDS, etc., and all of them are online education projects, showing the ecological advantages of the whole industry development of Beijing's new education economy.
Fourth, Beijing biomedicine has development advantages. The medical and health industry has obtained 8 venture investments, including 3 in biotechnology and pharmacy, 2 in medical e-commerce, and 1 for medical treatment, medical institutions and specialized services, indicating that Beijing has both the high-tech advantages of biopharmaceuticals and the innovative advantages of the Internet medical model.
In the era of mobile Internet, the new network economy is a new highland for development. It is necessary to seize the opportunity of accelerating the maturity of some network economies under the epidemic situation, give play to the guiding role and amplification effect of government funds, optimize the business environment of venture capital and start-ups from the perspective of fighting the focus epidemic situation, create a better innovation and entrepreneurship ecology, and promote the accelerated development of new industries, new formats and new models.
At the industrial level, increase investment and policy support for online office, online education, online medical care and other industries. Venture capital is at the forefront of technology and business model innovation and has a keen sense of new economic development trends. It is necessary to make good use of its role as a weather vane, introduce targeted industrial policies through direct or indirect financing means such as government industrial investment funds, counseling and listing, and bank loans, and increase investment and policy support for related industries.
At the institutional level, optimize the business environment of venture capital institutions and startups. Venture capital is beneficial to the development of high-tech small and medium-sized enterprises, and the successful experience of supporting venture capital and entrepreneurship abroad is usually based on providing appropriate tax incentives. First, call on the state to speed up the formulation of special venture capital law and improve the legal system of venture capital tax; Second, actively strive for the state's tax incentives for venture capitalists and venture capital companies, and increase the supply of venture capital; Third, actively strive for tax incentives for venture enterprises and cultivate the development of venture enterprises.
At the ecological level, accelerate the construction of new infrastructure and the cultivation of innovative and entrepreneurial ecological environment. As a de facto national venture capital and entrepreneurship center, Beijing benefits from the technological precipitation of the Science and Technology Innovation Center, the foundation of high-tech industry and the good development advantages of the mobile Internet industry. To consolidate and develop this advantage, we must strengthen the construction of new infrastructure such as 5G, big data, artificial intelligence and industrial Internet, and cultivate soil that is more conducive to the growth of new industries, new formats and new models. (Li Jinya, 2020)