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文章基于企业生命周期分析了科技型企业在种子期、初创期、成长期、成熟期、衰退期的资金需求规律,总结了科技型企业融资约束原因在于、企业自身素质不够强大、企业融资增信不够全面、国家金融市场不够完善、国家扶持政策不够协同等,提出了以发展科技金融破解科技型企业融资约束难题,通过市场竞争实现金融资源配置,优化科技金融环境与资金供给,从全周期关系融资、分周期融资策略实现最佳融资的政策建议。
Based on the enterprise life cycle, the paper analyzes the capital demand law of science and technology enterprises in the seed stage, the start-up stage, the growth stage, the maturity stage and the recession period. It concludes that the financing constraint of the science and technology enterprises lies in that the enterprises themselves are not strong enough in quality, Not enough comprehensive national financial markets, national support policies are not enough synergies, proposed the development of science and technology finance to crack the financing constraints of science and technology enterprises, market competition through the allocation of financial resources to optimize science and technology financial environment and capital supply from the full cycle of relations Financing, sub-cycle financing strategy to achieve the best financing policy recommendations.