科技金融加速科技成果转化

Core Viewpoint - The transformation of China's technology sector from a "big technology country" to a "strong technology country" is crucial, with technology financial services playing a key role in the conversion of technological achievements into marketable products [1][8]. Group 1: Challenges in Technology Achievement Conversion - The full lifecycle of technology achievement conversion includes multiple stages, facing significant risks, particularly in the early stages where high risks and low collateral create funding bottlenecks [2][8]. - The core contradiction in China's technology achievement conversion is the "high-risk gap" and "ecological chain disconnection," exacerbated by traditional financial tools that avoid early-stage risks, leading to a funding gap known as the "valley of death" [2][8]. Group 2: Government's Role in Financial Support - The government needs to innovate funding mechanisms and establish risk compensation systems to support early-stage projects, such as the "technology loan risk compensation fund" in Zhejiang, which shares early loan default risks with banks [3]. - A shift from "fiscal blood transfusion" to "risk sharing" is necessary, with a focus on long-term support for technology conversion and startup development through a "first investment, then equity" model [3]. Group 3: Investment Strategies and Financial Tools - A "risk-reward" rebalancing system should be established, utilizing tax incentives and subsidies to lower investment costs for social capital, while also implementing risk option contracts to enhance investor confidence [4]. - Innovative financial tools, such as intellectual property pledge financing and technology bills, are being utilized to convert intangible assets into tangible funding, addressing the financing challenges faced by technology enterprises [5][6]. Group 4: Financial Ecosystem Reconstruction - The technology finance ecosystem must evolve from fragmented services to comprehensive coverage, creating a closed-loop network that connects government, industry, academia, and finance [7]. - By establishing dual-track risk-sharing funds at provincial and municipal levels, the government can support high-risk early-stage projects, encouraging active participation from social capital [4][8].