国科创投刘克峰：科创时代来临，科技成果转化成为创投新风口

Core Insights - The era of technological innovation has arrived, characterized by the fourth technological revolution, which includes the rapid commercialization of disruptive technologies and a fundamental shift in innovation paradigms [5][6] - The transformation of scientific and technological achievements has become a historical opportunity for the venture capital industry, with a focus on discovering and nurturing projects [8][10] Group 1: Characteristics of the Technological Innovation Era - The fourth technological revolution is marked by three main features: the rapid emergence of disruptive technology clusters, a fundamental change in innovation paradigms, and a restructuring of the global technology landscape with China rising in innovation capabilities [5] - Economic growth is shifting from factor-driven to innovation-driven, with the contribution of technology to economic growth exceeding 60% and the proportion of emerging industries in GDP expected to reach 18% by 2024 [6] Group 2: Venture Capital Trends - The venture capital industry is experiencing a shift towards the transformation of scientific and technological achievements, driven by stable growth in R&D funding and a significant increase in patent authorizations [8][9] - The value of transforming scientific achievements is becoming more prominent, with successful cases like Cambrian demonstrating strong market performance and resilience [9] Group 3: Core Functions of Venture Capital - The core functions of venture capital have simplified to two key aspects: discovery and nurturing of quality projects, evaluated through technology leadership, industry pain points, value rationality, and commercial scalability [10][11] - In nurturing projects, venture capital institutions act as entrepreneurial accelerators, resource integrators, operational collaborators, and patient companions, focusing on long-term stable returns [12] Group 4: Future Outlook - The company emphasizes the importance of understanding science and fostering transformation, advocating for a value investment approach rooted in scientific faith [13]