【摘要】 科技创新和产业创新深度融合是生产力跃升与经济高质量发展的有效结合点，日渐成为中国式现代化的重要引擎，耐心资本则为摆脱其融合困境提供了关键力量。科技创新和产业创新深度融合，本质上是通过知识循环与价值循环两种循环机制实现的动态互促过程，但这一过程面临能力与动力不足的双重困境。耐心资本凭借时间韧性、风险包容与价值共生的独特属性，既以资金供给、资源配置与战略引导补强融合能力，也以风险分担与激励约束激活融合动力，形成“能力补强—动力激活”的协同效应。当前实践虽显现耐心资本扩容与科技创新和产业创新深度融合深化协同演进，但因金融短板、转化阻滞、协同低效、制度滞后等系统性问题，仍未显著释放融合潜能。因此，需以多层次耐心资本供给体系为支撑，疏通科技成果产业转化的关键堵点，构建高效能协同创新网络，并搭建适配长周期创新的治理框架，最终形成“资本赋能—循环畅通—系统协同—制度保障”的深度融合推进范式。更多还原

【Abstract】 The deep integration of technological innovation and industrial innovation is an effective point combining a leap in productivity and high-quality economic development,gradually becoming an important engine of Chinese modernization.Patient capital provides a key force for solving the dilemmas in the integration.The deep integration of technological innovation and industrial innovation is essentially a dynamic mutual promotion process achieved through two circulation mechanisms: knowledge circulation and value circulation.However,this process faces the dual dilemmas of insufficient capacity and momentum.Patient capital,on one hand,with its unique attributes of time resilience,risk tolerance,and value symbiosis,strengthens the integration capacity through funding supply,resource allocation,and strategic guidance.On the other hand,it activates the momentum of integration through risk sharing and incentive constraints,forming the synergistic effects of capacity strengthening and momentum activation.Although the current practice has demonstrated the collaborative evolution of patient capital expansion and deep integration of technological innovation and industrial innovation,the potential for integration has not been significantly released due to systemic problems such as financial weaknesses,transformation barriers,inefficient collaboration,and institutional lagging.Therefore,it is necessary to use a multi-level patient capital supply system as the support to break through the key bottlenecks in the transformation of research achievements into industrial practice,build an efficient collaborative innovation network,and establish a governance framework suitable for long-term innovation,ultimately forming a deep integration and promotion paradigm of capital empowerment-circulation smoothing-system collaboration-institutional guarantee.更多还原