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在不确定和动态发展的创业环境下,创业活动作为一个过程性的概念其过程也包含了多方的博弈。在技术创新和制度变化中的创业者面临着动态演进的不确定环境、稍纵即逝的机会、有限的资源,其创业手段受限,寻求战略伙伴进行资源整合尤其是创业融资至关重要。对资本持有者来说新兴产业的投资较一般市场的投资回报更为丰厚,创业投资的概念应运而生,创业投资在资本市场中兴起并逐渐专业化和制度化。但是创业投资具有高度不确定性和信息不对称性,创业企业家和创业投资者之间的博弈从未停止过。
In the uncertain and dynamic business environment, entrepreneurial activities as a process of the concept of the process also contains a multi-game. Entrepreneurs in the process of technological innovation and institutional change are faced with the uncertain environment of dynamic evolution, fleeting opportunities, limited resources, limited entrepreneurial means and seeking strategic partners for resource integration, especially venture capital financing. For the capital holders, the investment in emerging industries is more lucrative than that in the general market. The concept of venture capital comes into being. Venture capital is emerging in the capital market and gradually becomes specialized and institutionalized. However, venture capital has a high degree of uncertainty and information asymmetry, the entrepreneurial entrepreneur and venture capitalists never stopped the game.