創(chuàng)業(yè)創(chuàng)新[文獻翻譯]

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1、外文文獻翻譯譯文一、外文原文原文：VentureinnovationVenturecapital(VC)isaverypowerfuldriverofquantumanddisruptiveinnovationglobally.Notonlydoesventurecapitalsimplyprovidefundingbutitalsosupportsmanyoftheotherelementsoftheinnovationprocessthatarecrucialtosuccess.Thesemayincludetechnology

2、duediligence,IPmanagement,competitiveanalysis,businessnetworking,operationalmanagementsupport,governance,financialdisciplineandmarketingwhichisoften,notalways,fullyrecognized.Venturecapitalalsoprovidesapowerfulmarketmechanismfor“fastfailure”innovationsinceaprojectthatd

3、oesnotgetVCfundingwilllikelystruggleforfinancingandthereforelikelyhasahighriskprofile.Overall,modernVCorganizationshavebecomeverysophisticatedatmanagingtechnical,managerialandfinancialrisk,allofwhichisvitallyimportantforasuccessfulinnovationprocess.Inthisregard,VCcompa

4、niesplayacrucialroleinprovidingrelativelyhigh-riskcapitalwhereotherfinancialinstitutionsdarenotventure.4.1SandHillRoadTheUSleadstheworldinVCfundingandSandHillRoad,MenloPark,intheheartofSiliconValley,isthehometomanybigVCcompanynames.KleinerPerkinsCaufield&Byers(KPCB),fo

5、rexample,hashadphenomenalpastsuccesshavingbackedcompaniessuchasAmazon,Genentech,GoogleandSunMicrosystemsintheirearlydays.Forseveralyearsduringthedotcomboomofthelate1990s,commercialrealestateonSandHillRoadwasmoreexpensivethanalmostanywhereelseintheworld.OthernotableVCco

6、mpaniesinthisareaincludeMatrixPartners,SequoiaCapital,TPGCapital,Venrock,KohlbergKravisRobertsandUSVenturePartners.Somesmaller,early-stagebiotechVC’ssuchas5AMVenturesarealsolocatedalongthisfamousSiliconValleyroad.4.2GlobalVentureCapitalistsVentureCapitalisnowbecomingag

7、lobalbusinessandanumberofmajorUScompanieshaveexpandedtheirmarketpresenceandopenedofficesabroad.Forexample,SequoiaCapital,whichhasfundedcompaniessuchas,CiscoSystems,OracleandApple,hasofficesinChina,IndiaandIsrael.IDGVentures,anotherglobalVCplayerwithapproximately$3.7bil

8、lionundermanagement,hasofficesinBoston,SanFrancisco,India,Korea,ChinaandVietnam.KPCBalsohasofficesinBeijingandShangha