Korean small business review (중소기업연구)

The Korean Association of Small Business studies (한국중소기업학회)
권호 표지
DOI QR코드

DOI QR Code

A Study on the Supporting System for Growth Stage of Startup

창업기업의 성장단계별 지원체계에 관한 연구: 국내외 유니콘 기업의 사례 비교

  • 이재석 (한양대학교 공학교육혁신센터) ;
  • 이기호 (한양대학교 경영학과) ;
  • 이상명 (한양대학교 경영대학)
  • Received : 2020.12.18
  • Accepted : 2021.02.01
  • Published : 2021.03.31
⟨ Previous Next ⟩

Abstract

Startups are undergoing a change throughout the growth process of startups that appear in existing studies as they move away from the existing B2B or B2C frame and expand their target customer groups to O2O, C2C. In this regard, a new type of startup known as unicorns, a unicorn which has grown rapidly in a short period of time, is being created by successfully attracting government support and external investment in recognition of the potential value of the startup. This study examined the relationship between investment attraction and growth after founding for five representative unicorns in the U.S. and Korea. As a result, it was found that private investment in Korea is passive and defensive, and is attracted after the Series A stage, compared to the U.S., where the growth potential of the startup ecosystem is positively evaluated. In addition, it found that government's support policy throughout the startup's growth process is an abstract and comprehensive policy focusing on initial funding for startups. Therefore, it was suggested that the scope of government policies should be expanded to forster startups as unicorns, and that it is necessary to establish and implement differentiated support policies for each growth of the scale-up of startups. This study is significant in that it presented the criteria for the growth stage and support of startups as well as policy support for scale-up through practical case analysis of unicorns.

창업기업들은 기존 B2B 혹은 B2C의 프레임에서 벗어나 O2O, C2C까지 대상 고객군을 확장하면서 기존 연구에서 나타나는 창업기업의 성장과정은 전체적으로 변화를 겪고 있다. 이와 관련하여 창업 후 기업의 잠재적 가치를 인정받아 정부지원과 외부 투자유치에 성공하여 단기간에 급성장한 유니콘 기업이라는 새로운 유형의 창업기업이 탄생하고 있는 상황이다. 본 연구는 미국과 한국을 대표하는 5개 유니콘 기업들의 성장과정 중 투자유치 사례를 분석하여 투자유치와 창업 후 성장과정의 관계를 살펴보았다. 그 결과, 창업생태계의 성장성이 긍정적으로 평가받고 있는 미국에 비해 한국은 민간 투자가 소극적이고 방어적으로, Series A단계 이후에 유치가 되고 있다는 점을 발견하였다. 또한 스타트업의 성장과정 전반에 걸친 정부의 지원 정책이 스타트업의 초기 자금 지원에 중점을 둔 추상적이고 포괄적인 정책임을 발견하였다. 따라서 스타트업을 유니콘 기업으로 육성하기 위해서는 정부 정책의 지원 범위가 확대되어야 하며, 창업기업의 스케일업을 위해 각 성장단계별 차별화된 지원 정책의 수립·시행이 필요하다는 정책적 제언을 제시하였다. 본 연구는 실질적인 유니콘 기업의 사례 분석을 통해 스케일업을 위한 정책 지원뿐 아니라 스타트업의 성장단계 및 지원사항에 대한 기준을 제시하였다는 데 큰 의미가 있다.

Keywords

References

  1. 권기대.나중덕.김승호(2002), "벤처기업의 환경요인과 성장단계에 따른 벤처 기업," 「중소기업연구」 제24권, 제4호, pp. 131-154.
  2. 서창수.이춘우(2007), "중소벤처기업 경영패턴의 질적 특징 변화에 관한 탐색적 연구," 「중소기업연구」 제29권, 제2호, pp. 201-228.
  3. 이규현(2006), "죽음의 계곡과 캐즘 : 바이오기술사업화에서의 장벽," 「마케팅」 제40권, 제2호, pp. 73-76.
  4. 조형래(1995), "창업인의 특성, 제품혁신성과 벤처기업 성과간의 상황적 관계," 한국과학기술원 박사학위논문.
  5. 창업진흥원(2018), 창업기업의 생존율 및 고용창출 효과 분석.
  6. 창업진흥원(2019), 창업지원기업 이력.성과 조사.
  7. 최종열.오두만.정해주(2007), "창업기업의 성장단계별 지원서비스 만족도에 관한 연구: 부산지역 BI 입주기업을 중심으로," 「중소기업연구」제29권, 제1호, pp. 89-116.
  8. Auerswald, P. E. and L. M. Branscomb (2003). "Valleys of death and Darwinian seas: Financing the invention to innovation transition in the United States," The Journal of Technology Transfer, Vol. 28, No.3-4, pp. 227-239. https://doi.org/10.1023/A:1024980525678
  9. Branscomb, L. M. and P. E. Auerswald(2001). Taking technical risks: How innovators, managers, and investors manage risk in high-tech innovations: Cambridge: MIT Press.
  10. Dean T. J., G. D. Meyer, and J. DeCastro(1993), "Determinants of New-Firm Formations in Manufacturing Industries, Entry Barriers and Organizational Inertia," Entrepreneurship: Theory and Practice, Vol.17, No.2, pp. 49-60. https://doi.org/10.1177/104225879301700205
  11. De Massis, A., F. Frattini, J. Kotlar, A. M. Petruzzelli, and M. Wright(2016). "Innovation through tradition: Lessons from innovative family businesses and directions for future research," Academy of Management Perspectives, Vol.30, No.1, pp. 93-116. https://doi.org/10.5465/amp.2015.0017
  12. Downs, A.(1967), The Life Cycle of Bureaus, In A. Downs(Ed.), Inside Bureaucracy, San Francisco: Little, Brown & Co., pp. 296-309.
  13. Ehlers, V. J.(1998), Unlocking our future: Toward a new national science policy, Washington, DC: U.S. House of Representatives, Committee on Science.
  14. Ford, G. S.(2007), "Does a municipal electric's supply of communications crowd out private communications investment? An empirical study," Energy Economics, Vol.29, No.3, pp. 467-478. https://doi.org/10.1016/j.eneco.2006.01.003
  15. Gompers, P. and J. Lerner(2001), The Money of Invention: How Venture Capital Creates New Wealth: Harvard Business School Press.
  16. Gompers, P. and J. Lerner(2002), The Venture Capital Cycle: MIT Press.
  17. Greiner, L. E.(1972), "Evolution and revolution as organizations grow," Harvard Business Review, Vol.50, No.4, pp. 37-46.
  18. Hannan, M. T. and J. Freeman(1984), "Structural inertia and organizational change," American Sociological Review, Vol.49, pp. 149-164. https://doi.org/10.2307/2095567
  19. Kazanjian, R. K.(1988), "Relation of dominant problems to stages of growth in technology-based new ventures," Academy of Management Journal, Vol.31, No.2, pp. 257-279. https://doi.org/10.2307/256548
  20. Lester, D. L., J. A. Parnell, and S. Carraher(2003), "Organizational life cycle: A five stage empirical scale," The International Journal of Organizational Analysis, Vol.11, pp. 339-354. https://doi.org/10.1108/eb028979
  21. Lewis, V. L. and N. C. Churchill(1983), "The five stages of small business growth," Harvard Business Review, Vol.61, No.3, pp. 30-50.
  22. Lippitt, G. L. and W. H. Schmidt(1967), "Crises in a developing organization," Harvard Business Review, Vol.45, pp. 102-112.
  23. Miller, D. and P. H. Friesen(1984), "A longitudinal study of the corporate life cycle," Management Science, Vol.30, No.10, pp. 1161-1183. https://doi.org/10.1287/mnsc.30.10.1161
  24. Murphy, L. M. and P. L. Edwards(2003), Bridging the valley of death: Transitioning from public to private sector financing. Golden, CO: National Renewable Energy Laboratory.
  25. Quinn, R. E. and K. Cameron(1983), "Organizational life cycles and shifting criteria of effectiveness: Some preliminary evidence," Management Science, Vol.29, No.1, pp. 33-51. https://doi.org/10.1287/mnsc.29.1.33
  26. Scott, M. and R. Bruce(1987), "Five stages of growth in small business," Long Range Planning, Vol.20, No.3, pp. 45-52. https://doi.org/10.1016/0024-6301(87)90071-9
  27. Simon, J. P.(2016), "How to catch a unicorn? An exploration of the universe of tech companies with high market capitalization," Communications & Strategies, Iss.104, pp. 99-127.
  28. Smith, K. G., T. R. Mitchell, and C. E. Summer(1984, August). "The Relationship Between Stages of Organizational Development and Strategic Decision Priorities: A Dual Methodological Investigation," In Academy of Management Proceedings (Vol. 1984, No. 1, pp. 186-190). Briarcliff Manor, NY 10510: Academy of Management. https://doi.org/10.5465/AMBPP.1984.4978766
  29. Smith, K. G., T. R. Mitchell, and C. E. Summer(1985), "Top level management priorities in different stages of the organizational life cycle," Academy of Management Journal, Vol.28, No.4, pp. 799-820. https://doi.org/10.2307/256238
  30. Van de Ven, A. H., R. Hudson, and D. M. Schroeder(1984), "Designing new business startups: Entrepreneurial, organizational, and ecological considerations," Journal of Management, Vol.10, No.1, pp. 87-108. https://doi.org/10.1177/014920638401000108
  31. thevc.kr (더브이씨)
  32. www.yanolja.com (야놀자)
  33. www.woowahan.com (우아한형제들)
  34. toss.im/team (비바리퍼블리카)
  35. www.airbnb.co.kr (Airbnb)
  36. www.cbinsights.com (CB Insights)
  37. www.juul.com (JUUL Labs)