Abstract: The enterprises founded by high-level overseas returnees can effectively promote transformation and upgrading of local industry as well as regional economic development. However, some of these enterprises fail because of being unable to break through the bottleneck in the startup phase. In Ningbo, Zhejiang Province, for example, through an investigation of 120 enterprises founded by high-level overseas returnees by using the analytic hierarchy process (AHP) to analyze the survey data, we made a research which finds that obstacles in "lack of direct financing channels", "difficulties in obtaining relevant talents " and "indirect financing difficulties" account for 76.2% collectively in weight, and these obstacles can be regarded as the bottlenecks of such enterprises. In order to help them break through bottlenecks in the start-up phase, Ningbo needs to develop Angel Investment to expand direct financing channels, strive to better the public service level to improve the ability of acquiring talents, and actively promote financial lease to relieve the difficulties in indirect financing.

Key words: local government, Ningbo, high-level overseas returnee, start-up phase, analytic hierarchy process (AHP)