The development of small and medium-sized enterprises in Germany is attributed to the support measures of promoting the early stage investment and ifnancing, such as, ifnancial assistance pays more attention to the industry-university-research unity and market forces, a public-private partnership to help start-up of technology-based enterprises, combination of indirect and direct support to solve start-ups’ initial difficulties, reforming the credit support mode for early-stage enterprise, etc. The practice of Germany has significant reference for the science and technology financing work in our country, such as establishing hard constraint mechanism for enterprise’s ifnancial capital, introducing public-private-partnership model to support innovation, introducing market mechanism in the allocation of science and technology resources, taking systematic and diversiifed ifnancing ways based on innovation and enterprise development stage.%德国中小企业的发展得益于促进早前期投融资的支持措施，归纳起来有以下特点：财政资助更加关注产学研结合和发挥市场力量，公私合作帮助科技型企业启动，间接支持与直接支持相结合解决初创期困境，创新初创期企业信贷支持模式等。德国的做法对于开展科技融资工作具有借鉴意义，如，建立投向企业的财政资金的硬约束机制，借鉴公私合作模式支持创新，在科技资源配置中引入市场机制，根据创新和企业发展的阶段采取系统化和多样化的资助方式等。借鉴德国经验，我国应健全科研经费分配机制，完善创业投资引导基金运作模式，提高政策性金融机构对创新支持的聚焦度，引导民间资本加大对早期创新创业的支持力度。
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