产学研合作本质上是技术创新的一中特定类型。“技术”是产学研合作创新中最活跃的要素,占据主导地位,同时公共投入与社会投入是确保技术发展的必要支持。根据技术演化过程中的不同形态的特征,分析技术与资本的结合过程,得出了“技术-资本”视角下的产学研合作中存在两种过程,分别是技术追逐资本过程与资本追逐技术过程。通过案例研究,分析技术与资本的结合过程中的风险、资源配置方式,收益分配等问题,总结了产学研合作中资本运作的“技术-风险-收益”模式。% The industry-university-institute cooperation is a particular type of technical innovation. Technology, as the most active ele-ment in cooperative innovation, plays a significant role, meantime, the public and social investment are the important supports for the tech-nology development. This paper analyzed the combination process of technology and capital according to the different characteristics in technology evolution and identified two types of process for the industry-university-institute cooperation, with one being technology cha-sing capital process and the other one the opposite. Then, taking a case of industrial technology research as an example, the author ana-lyzed the risks, resource allocation and interest distribution in the technology-capital combination process, and summarized the technology-risk-interest mode of capital operation in the industry-university-institute cooperation.
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