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The Effects of Technology Commercialization Capability and Competitive Strategy of Agri-food Venture on Growth Prospects: Focused on Mediating Effect of Business Model Innovation  

Ahn, Mun Hyoung (Department of Liberal Arts, Namseoul University)
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.17, no.4, 2022 , pp. 73-86 More about this Journal
Abstract
Interest and investment in agri-food ventures is increasing worldwide. Agri-food venture startups are also increasing in Korea, but there are constraint factors due to industrial characteristics, and infrastructure and investment for growth are insufficient. This study confirmed the effect of technology commercialization capability and competitive strategy on the growth prospects of agri-food venture companies and the mediating effect of business model innovation. And, through comparison with previous studies, the industrial characteristics were identified by confirming the difference between all venture companies and agri-food ventures. For this, only agri-food ventures data were extracted from the original data of the Research on the Precision Status of Venture Firms 2021. And empirical analysis was conducted. As a result, manufacturing capability, cost leadership and product differentiation had a positive(+) effect on growth prospects. The mediating effect of business model innovation between manufacturing capacity, product differentiation and growth prospects was verified. Through the research results, factors affecting the long-term growth prospects of agri-food ventures were identified in consideration of industrial characteristics. In addition, practical implications in connection with business model innovation of agri-food ventures were presented. In future research, it is necessary to develop an objective measurement tool and to conduct a detailed analysis according to business history and company size.
Keywords
Agtech Venture; Technology Commercialization Capability; Competitive Strategy; Business Model Innovation; Growth Prospects;
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Times Cited By KSCI : 3  (Citation Analysis)
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