A research study submitted in partial fulfillment of the requirements for the degree of Master of Business Administration in Management of Technology.

Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 1992

Ventme capital is a critical resource in equity financing of high- tech firms. Venture capitalists usually rely on subjective assessment based upon business plans presented by entreprenems or management teams. There were many previous studies on the evaluation criteria of venture capitalists, but there was no consensus among them. The research aims at the evaluation criteria in the decision making process of Taiwan's venture capitalists and focuses on the bridging mechanism of initial contact between high-tech firms and venture capitalists. Two designed questionnaires were distributed separately to high- tech firms in a science park and venture capitalists. The findings from the responses were that personal acquaintances played A. dominmt role to bridge venture capitalists and high- tech firms, and venture capitalists in Taiwan seemed to be fairly market- oriented. If high- tech entrepreneurs prepare their business plans with good marketing strategy, it will be probably easy for them to get flmded from venture capitalists in Taiwan.