随着21世纪新经济的出现，新经济的主要载体是指那些具有高科技、高成长、高风险的企业。同时，由于创业投资机构所投资的项目，都具有高科技、高成长、高风险等特点。但是，由于创业项目本身所具有的特性，使得创业投资机构对创业项目评估决策的正确性大大降低。基于以上原因，本人提出了创业投资项目的集成评估决策研究课题，并对其进行了深入的研究。通过理论研究、市场调研研究以及实践研究，提出了区分创业投资项目四个生命周期的五项指标（销售收入增长率、市场占有增长率、科技成果转化增长率、成本降低率、规模扩张率）；构建了基于创业项目生命周期的评估决策体系；并构建出了基于创业项目生命周期的集成评估决策模型。最后，在以上思想和理论的指导下，选举了16个有代表性的创业项目，并使用集成评估决策方法对其综合评估，通过理论评估决策与实际结果相比较，验证了该评估决策理论的有效性和科学性。

With the arrival of the new economy of the 21 century, the carriers of the new economy are those enterprises with the high technology, high-gorwth and high risk. At the same time, the characters of the projects invested by the venture capital organizations are those projects with high technology, high-growth and high risk.But, owing to the characters of the venture capital projects, the vitality appraisal by the venture capital organizations are sharply reduced. Based on these reasons, this paper presented the subject of the Integrated-evaluated decision-making and researched it deeply. By way of the theoretical research , market investigation and practical research, five indexes about the venture capital life cycle were offered(sales income growth rate, market occupation growth rate, science and technology achievement transformation growth rate, rate of cost reduction, rate of scale expansion) ;construed the evaluation decision system based on the venture capital life cycle and the integration evaluation decision model based on the venture capital life cycle. Finally, directed by the thinking and theory, we selected 16 projects with representative, scientificity and validity of this evaluation decision theory was verified through the comparison between the theoretical appraisal and the practical result.