Abstract: Entrepreneurial sponsorship is an important mean which government and society use to increase the success rate and performance of new ventures. Based on the data of 9 cities, 15 incubator, 265 startups of Zhejiang Province, we use multiple regression method to explore the relationship between two types of entrepreneurial sponsorship - government subsidies and network building - and new ventures performance, and analyze the moderating effect of organization age. The results reveals that:（1）government subsidies and network building both have positive impact on new ventures performance;（2）these two relationships are moderated by organization age, the former is negative, the latter is positive; 3）the positive effect of government subsidies is more significant than network building in the early time of firms are found, when firms grow to certain stage, this situation will reverse.