Emerging technology industry is an important investment area for venture capital investment. Based on the data from GEM listed companies, the index of the synergetic innovation degree is established, and the relationship among the synergetic innovation degree, venture capital intervention and innovation performance is analyzed through the econometric model. The conclusion shows that the synergetic innovation degree contains a significant negative effect on innovation investment , while the venture capital interven-tion contains little significant impact. The synergetic innovation degree contains a significant positive effect on enterprise technology innova-tion, while the venture capital intervention does not show the significant impact on enterprise innovation. Another conclusion shows that the purpose of the venture capital intervention concentrates more on obtaining short-term profits , and the role to achieve innovation eff-ect is extremely limited, so the key to promoting the synergetic innovation is to guide and show the long-term role of venture capitals.%新兴技术产业是风险投资的重要领域. 利用创业板上市公司数据, 构建企业创新协同程度指数, 并利用计量模型研究企业协同创新程度、 风投介入与创新效应实现三者之间的关系. 研究表明, 创新协同程度对创新投入具有显著负向影响,风投介入对企业创新投入不具有显著影响; 协同创新程度对企业技术效应具有显著正向影响, 风投介入未显示对创新效应实现的作用. 研究显示, 风投介入的目的更多集中在短期利润获取, 对创新效应实现的作用极为有限, 因此引导和发挥风投的长效创新作用成为推动协同创新的关键.
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