Annotatsiya:

Annotation: Venture capital (VC) and angel investment represent cornerstone mechanisms in the financing ecosystem for innovative enterprises, particularly in economies undergoing rapid technological transformation. In China, these mechanisms have not only provided the necessary capital for early-stage ventures but also introduced strategic guidance, managerial expertise, and access to professional networks, which are critical for startups navigating the high-risk landscape of innovation. Unlike traditional financing, which emphasizes collateral and historical earnings, VC and angel investments operate on the principle of high-risk, high-reward, focusing on potential innovation output and market scalability.