Venture capital is a kind of equity capital, which is invested by professional financiers in emerging, rapidly developing enterprises with great competitive potential. The following is my carefully organized analysis of venture capital in cultural and creative industries for reference only. Welcome to read.
Venture capital itself does not care too much about risks, but pays more attention to investors with high risks and high returns. They don't care about the size of the risk, but value whether there is a very cost-effective return in a high-risk state. However, for the current cultural and creative industries, the risk is not small but the rate of return is often not high, the evaluation of related companies is not easy, and the development model is not very mature. These problems also lead venture capitalists to be unwilling to go too far into the current cultural and creative industries.
Keywords: venture capital; Cultural and creative industries; High rate of return; Evaluation difficulty
Undoubtedly, venture capital is a hot topic in the capital market. The essence of capital market is hovering between risk and return, but in the face of increasingly perfect cultural and creative industries, it has not attracted enough venture capitalists to participate. Because there are many problems in the process of venture capital entering cultural and creative industries.
First, the significance of venture capital and the current development of cultural and creative industries
1, the significance of venture capital.
According to the definition of American National Venture Capital Association, venture capital is a kind of equity capital invested by professional financiers in emerging, rapidly developing enterprises with great competitive potential. The focus of venture capital lies in the word risk, because it is aimed at emerging and rapidly developing enterprises, so whether it will bring huge benefits in the future, at least not at present.
Therefore, the important feature of investment is risk. Because of the huge profits that may be brought in the future, those investors are willing to take such risks and try these emerging potential companies. Venture capital is more like a gamble, but it is a gamble that is carefully thought out and carefully calculated to minimize the failure rate but may still fail.
2. Development status of cultural and creative industries.
As a new industry, cultural and creative industry emphasizes the idea that the main culture or cultural elements rely on individuals or teams to develop and market intellectual property through technology, creativity and industrialization. It expresses a mode of collision singing through cultural thought, which is also very popular and promising at present.
Cultural and creative industries, including animation, media and craft design, have demonstrated their potential and future development ability through strong market feedback. Coupled with the continuous development and popularization of computer technology in recent years, the speed and scope of information dissemination are getting wider and wider, and the development prospects of cultural and creative industries are naturally growing, and the profits that can be brought can not be ignored.
Second, it is difficult for the current cultural and creative industries to achieve high returns.
1, the rapid development of cultural and creative industries has both advantages and disadvantages.
Although the cultural and creative industries have developed rapidly, many companies have shown their development potential, but it is precisely because of this advantage that their disadvantages have formed. Because of the rapid development and remarkable effect, the whole market is still in chaos, and companies succeed one after another and then close down. Even companies with strong advantages at present may be replaced in a short time.
Because in the final analysis, the cultural and creative industries have no inherent product advantages, and the unique products have too little technical content. The cultural and creative industry is mainly engaged in a culture and an idea, not to mention whether this kind of thing can always be accepted and liked by people. As far as its imitativeness is concerned, many companies can imitate or even surpass it quickly, and their core competitiveness is too low.
It is difficult to attract high-risk investment without high rate of return.
It is precisely because of the low core competitiveness of its products and the short interval between glory and loneliness that the rate of return is too low. Any venture capitalist is interested in the huge benefits that may be generated. As long as it is possible, they are willing to take a chance. They will be evaluated by professionals and then calculated to see if the results are within their tolerance.
Therefore, venture capitalists are not afraid of risks. Their only fear is that it is difficult to bring high returns under high risks, and they will definitely not make low-cost investments. It is conceivable that when an investor takes huge risks, the final calculated rate of return is not satisfactory, so such venture capital will naturally not be considered.
Third, the evaluation is difficult and the development model is not mature enough.
1. It is difficult to evaluate the cultural and creative industries at present.
Cultural and creative industries are more of an exchange of ideas, and the selling point is culture or ideas, but there are few physical products, so it is a headache for venture capitalists to evaluate them. Real estate has land, buildings and floors, factories have actual products, machines have factory land, even if it is not actual funds, it can almost be regarded as fixed assets. Then these fixed assets can be well converted into capital, plus the corresponding production technology, patents, current market share, turnover and so on. , which can make more accurate risk assessment for enterprises. But for cultural and creative industries, it is difficult to estimate the accurate market value by evaluating the value of an idea and a culture.
2. The current development mode of cultural and creative industries is not mature enough.
In addition to the difficulty in evaluation, the current development model of cultural and creative industries is not mature enough. Because of the competition of market development, few companies attach importance to the establishment of development system, and are busy occupying the market and pulling the current customer base to obtain short-term benefits, which makes their development model imperfect and mature. The most important thing of venture capital is whether the enterprise has a clear and reasonable development model and profit model, and whether it is in a leading position in the industry.
At present, most cultural industries do not have a good and perfect development model, so it is naturally difficult for venture capitalists to make venture capital under the circumstances of high risks and uneven returns. To sum up, the current development trend of cultural and creative industries is still very rapid, but it does not mean that its development direction is completely correct. Only by establishing firm goals and perfecting scientific management development system can a company survive better and not be eliminated by the market. Those who only pay attention to immediate interests and completely ignore their own quality and ability development can only be directly forgotten by the market and customers until they are eliminated.
refer to
[1],, Hu, Study on the coordinated development of cultural industry and ecological construction in the northern foot of Qinling Mountains [J]. Journal of Xi University of Architecture and Technology (Social Science Edition), 20 15(03)
[2] Xu Yaodong, Shao Xiaofeng. The cultivation of creative talents is the key to cultural and creative industries —— Taking art and design education in colleges and universities as an example [J]. Fujian Forum (Humanities and Social Sciences Edition), 20 15(06)
[3], Sun Yongkang, Pang. Integration Mechanism of Business Incubator and Venture Capital —— Based on Game Decision Model [J]. Research on Science and Technology Management, 20 15( 12)
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