上世纪以来，创业型经济一直持续不断地支持着各发达国家多年经济的发展， 同样也对中国经济的发展起到了巨大的推动作用。当然，大家也清楚地看到，真正 成功的创业者相对是比较少的。每天会有成千上万的企业诞生，同时也会有成千上 万的企业倒闭。无论创业企业是过早夭折，还是艰难度日，困扰其运转的最大原因 是资金问题，风险投资的引入，为这些创业者提供了更为有效的融资渠道 [1] 。 首先，本文结合案例，从 ZM 科技企业外部和内部两大方面详细分析了创业项 目的优势，同时对外部优势，从政策，行业特点，市场前景和技术等几个方面进行 了深入阐述；对内部优势，从技术，渠道，品牌，品质，团队，服务体系和项目等 方面进行详尽剖析。 其次，对创业项目的重要融资渠道，风险投资进行了详细的阐述。认真分析案 例中风险投资的整个过程，从而得出风险投资对创业项目的整个操作流程，并侧重 剖析风险投资对创业项目的评估，包括创业项目评估要点和评估方法，从实践中对 风险投资评估有一个切实的把握。 最后，针对风险投资的评估对象，商业计划书进行较为全面的解读。分别从 结构，内容，表达方法上做了详细的阐述。结构上要根据创业项目的实际情况和 需要进行调整，以便更好的展示创业项目的优势；内容上要主次分明，重点突出； 表达方法上要生动，多运用数据和图文形式，可以将创业项目的优势得到更好的 展现。 关键词，创业 风险投资 商业计划书 II 华 中 科 技 大 学 硕 士 学 位 论 文 Abstract Since last century, venture economy continuously kept supporting the development of the developed countries. It also strongly stimulated china’s development. Of course, people also found that the percentage of the successful venture was low, every day, there were thousands of companies set up, at the same time, many companies were closed. However the companies were dead early or lived on hard condition, one of the main reason is the capital, so the introduction of venture capital provides an efficient financing way of capital for the ventures. Firstly, this paper, based on the case, analyses the advantages of venture project from outer & inner side of ZM company. About outer side advantages, the description is from the points of policy, industry specialty, market future & technology; while talking about inner advantages from technology, channels, brand, quality, team, service system & projects. Secondly, this paper deeply analyzes the important financing way of venture firms: venture capital. Looking into the full procedure of the ZM case, from which find the whole operation procedure of VC. And emphasize particularly on how the VC do evaluation on venture project, including the evaluation points and methods, then can get real feeling about VC evaluation from the case. Finally, fully describes the object of VC: business plan, and give details description from structure, content, and expression. About structure, have to do some adjustment according to the situation of the venture project to show the advantages of the venture project; About content, have to be primary and secondary accordingly; About the expression, need to be lovely, use data and picture or table more to present the advantages of the venture project smoothly. Key words: Venture Venture Capital Business Plan III 华 中 科 技 大 学 硕 士 学 位 论 文 目 录 摘要...............................................................................................................I Abstract........................................................................................................... II 1 绪论 1.1 研究的背景和意义 .............................................................................. (1) 1.2 国内外文献回顾及研究进展 .............................................................. (3) 1.3 报告的研究方法 .................................................................................. (6) 1.4 研究的内容和结构 .............................................................................. (7) 2 ZM 创业项目基本情况 2.1 ZM 创业项目的起步阶段 ................................................................... (8) 2.2 ZM 创业项目的发展阶段 .................................................................(10) 2.3 ZM 创业项目的高速成长阶段 ......................................................... (11) 3 ZM 创业项目的优势 3.1 ZM 创业项目的外部优势 .................................................................(12) 3.2 ZM 创业项目的内部优势 .................................................................(20) 4 风险投资对 ZM 创业项目的评估 4.1 风险投资的运行流程 ........................................................................(25) 4.2 风险投资的评估方法 ........................................................................(28) 4.3 风险投资对 ZM 创业项目的评估 ....................................................(29) 4.4 创业项目的评估对象，商业计划书 ................................................(36) 5 商业计划书的表达 5.1 商业计划书在结构上的表达 ............................................................(37) 5.2 商业计划书在内容上的表达 ............................................................(38) IV 华 中 科 技 大 学 硕 士 学 位 论 文 5.3 商业计划书在形式上的表达 ............................................................(39) 结束语..........................................................................................................(43) 致谢..........................................................................................................(44)