• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.1
• /
• pp.13-29
• /
• 2023

Overcoming the death valley, a period in which resources are depleted and profitability declines or stagnates in the entrepreneurial process, is an essential procedure for success. In this study, we examined how the strategic orientation(technology, customer, competitor orientations) and absorptive capacity(potential, realized capacities) of startups affect the possibility of startups to overcome the challenges of death valley, and also empirically analyzed whether support of open innovation and venture capital has a moderating influence to the overcoming of death valley. The result of this study shows that customer orientation and realized absorptive capacity have a positive influence on overcoming the death valley. In addition, we found that the support of open innovation and venture capital has a moderating effect only in the technology orientation among the three types of strategic orientations. The result of this research emphasizes (1) the need for startups to take a more customer-oriented approach to overcome the death valley. The customer-oriented behavior and strategies of startups are vital for their longterm survival and success if we consider the fact that most of the companies investigated in this study were technology-based startups and only customer orientation showed significant results in overcoming the death valley. The research outcome also shows that (2) implementing innovation in a more open way and securing venture capital funding can make it easier for startups to overcome the death valley. This study has academic significance in that it empirically analyzed the relationship of key factors influencing the overcoming of death valley in a situation where the majority of existing research remains at the conceptual level of discussion or methodology of case study. Furthermore, this research also provides practical implications for the establishment and implementation of effective strategies to confront the challenges of death valley for startups, government and related organizations.

• Journal of Venture Innovation
• /
• v.6 no.1
• /
• pp.35-57
• /
• 2023

The purpose of this study was to analyze the moderating effect of venture start-up and general start-up based on what kinds of entrepreneurs' personal characteristics, business capabilities, and start-up motivation factors affecting start-up satisfaction. This study conducted an online survey of companies who received credit guarantee for start-ups from KCGF(Korea Credit Guarantee Fund), and finally collected 320 survey data. And it conducted statistical analyses such as frequency analysis, factor analysis, reliability analysis, correlation analysis, regression analysis, etc. using SPSS 24.0 statistics program. The results of the study were as follows. First, it is tested that creativity, one of entrepreneurs' characteristics, had a positive effect(+) on start-up satisfaction. Second, it is found that the failure burden, one of entrepreneurs' characteristics, had a negative effect(-) on start-up satisfaction. Third, experiences, one of entrepreneurs' characteristics, had not a significant effect on start-up satisfaction. Fourth, it was analyzed that business capabilities such as technology research and development, marketing, networking, and financing had a positive effect(+) on start-up satisfaction. Fifth, it is tested that the economic and self-realization motivation had a positive effect(+) on start-up satisfaction. Sixth, start-up satisfaction had a positive effect(+) on business performances. Last, it was analyzed that venture start-ups had a more positive effect than general start-up in the creativity, technology research and development, and the self-realization of start-up motivation affecting start-up satisfaction. And, it was found that venture start-ups have a less negative effect than general start-up in the failure burden affecting start-up satisfaction.

• Journal of Intelligence and Information Systems
• /
• v.24 no.3
• /
• pp.67-88
• /
• 2018

Until recently, as we recognize the significance of sustainable growth and competitiveness of small-and-medium sized enterprises (SMEs), governmental support for tangible resources such as R&D, manpower, funds, etc. has been mainly provided. However, it is also true that the inefficiency of support systems such as underestimated or redundant support has been raised because there exist conflicting policies in terms of appropriateness, effectiveness and efficiency of business support. From the perspective of the government or a company, we believe that due to limited resources of SMEs technology development and capacity enhancement through collaboration with external sources is the basis for creating competitive advantage for companies, and also emphasize value creation activities for it. This is why value chain network analysis is necessary in order to analyze inter-company deal relationships from a series of value chains and visualize results through establishing knowledge ecosystems at the corporate level. There exist Technology Opportunity Discovery (TOD) system that provides information on relevant products or technology status of companies with patents through retrievals over patent, product, or company name, CRETOP and KISLINE which both allow to view company (financial) information and credit information, but there exists no online system that provides a list of similar (competitive) companies based on the analysis of value chain network or information on potential clients or demanders that can have business deals in future. Therefore, we focus on the "Value Chain Network System (VCNS)", a support partner for planning the corporate business strategy developed and managed by KISTI, and investigate the types of embedded network-based analysis modules, databases (D/Bs) to support them, and how to utilize the system efficiently. Further we explore the function of network visualization in intelligent value chain analysis system which becomes the core information to understand industrial structure ystem and to develop a company's new product development. In order for a company to have the competitive superiority over other companies, it is necessary to identify who are the competitors with patents or products currently being produced, and searching for similar companies or competitors by each type of industry is the key to securing competitiveness in the commercialization of the target company. In addition, transaction information, which becomes business activity between companies, plays an important role in providing information regarding potential customers when both parties enter similar fields together. Identifying a competitor at the enterprise or industry level by using a network map based on such inter-company sales information can be implemented as a core module of value chain analysis. The Value Chain Network System (VCNS) combines the concepts of value chain and industrial structure analysis with corporate information simply collected to date, so that it can grasp not only the market competition situation of individual companies but also the value chain relationship of a specific industry. Especially, it can be useful as an information analysis tool at the corporate level such as identification of industry structure, identification of competitor trends, analysis of competitors, locating suppliers (sellers) and demanders (buyers), industry trends by item, finding promising items, finding new entrants, finding core companies and items by value chain, and recognizing the patents with corresponding companies, etc. In addition, based on the objectivity and reliability of the analysis results from transaction deals information and financial data, it is expected that value chain network system will be utilized for various purposes such as information support for business evaluation, R&D decision support and mid-term or short-term demand forecasting, in particular to more than 15,000 member companies in Korea, employees in R&D service sectors government-funded research institutes and public organizations. In order to strengthen business competitiveness of companies, technology, patent and market information have been provided so far mainly by government agencies and private research-and-development service companies. This service has been presented in frames of patent analysis (mainly for rating, quantitative analysis) or market analysis (for market prediction and demand forecasting based on market reports). However, there was a limitation to solving the lack of information, which is one of the difficulties that firms in Korea often face in the stage of commercialization. In particular, it is much more difficult to obtain information about competitors and potential candidates. In this study, the real-time value chain analysis and visualization service module based on the proposed network map and the data in hands is compared with the expected market share, estimated sales volume, contact information (which implies potential suppliers for raw material / parts, and potential demanders for complete products / modules). In future research, we intend to carry out the in-depth research for further investigating the indices of competitive factors through participation of research subjects and newly developing competitive indices for competitors or substitute items, and to additively promoting with data mining techniques and algorithms for improving the performance of VCNS.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.2
• /
• pp.33-51
• /
• 2022

This study analyzes newly listed companies on KOSDAQ from 2011 to 2020 for both firms having experience in attracting venture investment before listing (VI) and those without having experience in attracting venture investment (NVI) by examining differences between two groups (VI and NVI) with respect to both the level of listing performance and that of firm performance (growth) after the listing. This paper conducts descriptive statistics, mean difference, and multiple regression analysis. Independent variables for regression models include VC investment, firm age at the time of listing, firm type, firm location, firm size, the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company. Throughout this paper, results suggest that listing performance and post-listed growth are better for VI than NVI. VC investment shows a negative effect on the listing period and a positive effect on the sales growth rate. Also, the amount of VC investment has negative effects on the listing period and positive effects on the market capitalization at the time of IPO and on sales growth among growth indicators. Our evidence also implies a significantly positive effect on growth after listing for firms which belong to R&D specialized industries. In addition, it is statistically significant for several years that the firm age has a positive effect on the market capitalization growth rate. This shows that market seems to put the utmost importance on a long-term stability of management capability. Finally, among the VC characteristics such as the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company, we point out that a higher market capitalization tends to be observed at the time of IPO when the level of expertise of anchor VC is high. Our paper differs from prior research in that we reexamine the venture ecosystem under the outbreak of coronavirus disease 2019 which stimulates the degradation of the business environment. In addition, we introduce more effective variables such as VC investment amount when examining the effect of firm type. It enables us to indirectly evaluate the validity of technology exception policy. Although our findings suggest that related policies such as the technology special listing system or the injection of funds into the venture ecosystem are still helpful, those related systems should be updated in a more timely fashion in order to support growth power of firms due to the rapid technological development. Furthermore, industry specialization is essential to achieve regional development, and the growth of the recovery market is also urgent.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.4
• /
• pp.151-160
• /
• 2020

This study aims to figure out the status of university start-up education and support scheme, which are becoming more important as a major project of recent university policy, and to present policy tasks for promoting university start-ups by analyzing problems. A survey on education and support scheme about start-up was carried out from 800 students including those on leave of absence at D university located in metropolitan area and the analysis results are as follows. First, perception about start-up was highly positive due to various start-up education and support scheme from universities, but it was surveyed that university students have still low willingness to challenge start-up. Second, the biggest reason why university students avoid the start-up is 'the risk of start-up failure' at 40.8%, followed by 'Prioritizing getting a job' at 24.9% and 'lack of knowledge on start-up' at 13.4%. Also, difficulty from those who have already started business was mainly financing at 26.9%. The second was 14.0% for securing manpower, and the third was 11.8% for technology development. Third, the necessity of start-up education was in the order of 'starting-up' > 'preparing to start-up' > 'no intention to start-up'. The reason for the necessity of start-up education was 'motivation for various career choices' with 24.8%, followed by 'acquisition of various knowledge and skills for start-up' with 23.9%. Finally, efforts are needed to understand the importance of public relations for start-up policies in universities and figure out the problems of the start-up support scheme. The start-up education and support scheme should reflect the needs of university students, who are actual policy consumers, by shifting away from the method provided by existing suppliers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.1
• /
• pp.141-158
• /
• 2023

From the perspective of an entrepreneur, one of the most important factors for understanding the inherent limitations of a startup, reducing the risk of failure, and succeeding is the composition of the talent, that is, the founding team. Therefore, a common concern experienced by entrepreneurs in the pre-entrepreneurship stage or the early stage of startup is the choice between independent startups and co-founding start-up. Nonetheless, in Korea, the share of independent entrepreneurship is significantly higher than that of co-founding start-up. On the other hand, focusing on the fact that many successful global innovative companies are in the form of co-founding start-up, the success factors of co-founding start-up were examined. Most of the related preceding studies are studies that identify the capabilities and characteristics of individual entrepreneurs as factors influencing the survival and success of entrepreneurship, and there is a lack of research on partnerships, that is, co-founding start-up, which are common in the field of entrepreneurship ecosystems. Therefore, this study attempted a multi-case study through in-depth interviews, collection of relevant data, analysis of contextual information, and consideration of previous studies targeting co-founders of domestic startups that succeeded in opportunistic startups. Through this, a model for deriving the phased characteristics and key success factors of co-founding start-up was proposed. As a result of the study, the key element of the preliminary start-up stage was 'opportunity', and the success factors were 'opportunity recognition through entrepreneur's experience' and 'idea development'. The key element in the early stages of start-up is "start-up team," and the success factor is "trust and complement of start-up team," and synergy is shown when "diversity and homogeneity of start-up team" are harmonized. In addition, conflicts between co-founders may occur in the early stages of start-ups, which has a large impact on the survival of start-ups. The conflict between the start-up team could be overcome through constant "mutual understanding and respect through communication" and "clear division of work and role sharing." It was confirmed that the core element of the start-up growth stage was 'resources', and 'securing excellent talent' and 'raising external funds' were important factors for success. These results are expected to overcome the limitations of start-up companies, such as limited resources, lack of experience, and risk of failure, in entrepreneurship studies, and prospective entrepreneurs preparing for a start-up in a situation where the form of co-founding start-up is attracting attention as one of the alternatives to increase the success rate. It has implications for various stakeholders in the entrepreneurial ecosystem.

• Journal of Intelligence and Information Systems
• /
• v.25 no.4
• /
• pp.1-33
• /
• 2019

The small and medium sized enterprises (hereinafter SMEs) are already at a competitive disadvantaged when compared to large companies with more abundant resources. Manufacturing SMEs not only need a lot of information needed for new product development for sustainable growth and survival, but also seek networking to overcome the limitations of resources, but they are faced with limitations due to their size limitations. In a new era in which connectivity increases the complexity and uncertainty of the business environment, SMEs are increasingly urged to find information and solve networking problems. In order to solve these problems, the government funded research institutes plays an important role and duty to solve the information asymmetry problem of SMEs. The purpose of this study is to identify the differentiating characteristics of SMEs that utilize the public information support infrastructure provided by SMEs to enhance the innovation capacity of SMEs, and how they contribute to corporate performance. We argue that we need an infrastructure for providing information support to SMEs as part of this effort to strengthen of the role of government funded institutions; in this study, we specifically identify the target of such a policy and furthermore empirically demonstrate the effects of such policy-based efforts. Our goal is to help establish the strategies for building the information supporting infrastructure. To achieve this purpose, we first classified the characteristics of SMEs that have been found to utilize the information supporting infrastructure provided by government funded institutions. This allows us to verify whether selection bias appears in the analyzed group, which helps us clarify the interpretative limits of our study results. Next, we performed mediator and moderator effect analysis for multiple variables to analyze the process through which the use of information supporting infrastructure led to an improvement in external networking capabilities and resulted in enhancing product competitiveness. This analysis helps identify the key factors we should focus on when offering indirect support to SMEs through the information supporting infrastructure, which in turn helps us more efficiently manage research related to SME supporting policies implemented by government funded institutions. The results of this study showed the following. First, SMEs that used the information supporting infrastructure were found to have a significant difference in size in comparison to domestic R&D SMEs, but on the other hand, there was no significant difference in the cluster analysis that considered various variables. Based on these findings, we confirmed that SMEs that use the information supporting infrastructure are superior in size, and had a relatively higher distribution of companies that transact to a greater degree with large companies, when compared to the SMEs composing the general group of SMEs. Also, we found that companies that already receive support from the information infrastructure have a high concentration of companies that need collaboration with government funded institution. Secondly, among the SMEs that use the information supporting infrastructure, we found that increasing external networking capabilities contributed to enhancing product competitiveness, and while this was no the effect of direct assistance, we also found that indirect contributions were made by increasing the open marketing capabilities: in other words, this was the result of an indirect-only mediator effect. Also, the number of times the company received additional support in this process through mentoring related to information utilization was found to have a mediated moderator effect on improving external networking capabilities and in turn strengthening product competitiveness. The results of this study provide several insights that will help establish policies. KISTI's information support infrastructure may lead to the conclusion that marketing is already well underway, but it intentionally supports groups that enable to achieve good performance. As a result, the government should provide clear priorities whether to support the companies in the underdevelopment or to aid better performance. Through our research, we have identified how public information infrastructure contributes to product competitiveness. Here, we can draw some policy implications. First, the public information support infrastructure should have the capability to enhance the ability to interact with or to find the expert that provides required information. Second, if the utilization of public information support (online) infrastructure is effective, it is not necessary to continuously provide informational mentoring, which is a parallel offline support. Rather, offline support such as mentoring should be used as an appropriate device for abnormal symptom monitoring. Third, it is required that SMEs should improve their ability to utilize, because the effect of enhancing networking capacity through public information support infrastructure and enhancing product competitiveness through such infrastructure appears in most types of companies rather than in specific SMEs.

• Korean Security Journal
• /
• no.39
• /
• pp.185-215
• /
• 2014

Since North Korea has used terror crime as a means of unification under communism against South Korea, South Korea has been much damaged until now. And the occurrence possibility of terror crime by North Korean authority is now higher than any other time. The North Korean terror crimes of Kim Il Sung era had been committed by the dictator's instruction with the object of securing governing fund. However, looking at the terror crimes committed for decades during Kim Jung Il authority, it is revealed that these terror crimes are expressed as a criminal behavior because of the conflict to accomplish the power and economic advantage non powerful groups target. This study focused on the power conflict in various causes of terror crimes by applying George B. Vold(1958)'s theory which explained power conflict between groups became a factor of crime, and found the aspect by ages of terror crime behavior by North Korean authority and responding plan to future North Korean terror crime. North Korean authority high-ranking officials were the Labor Party focusing on Juche Idea for decades in Kim Il Sung time. Afterwards, high-ranking officials were formed focusing on military authorities following Military First Policy at the beginning of Kim Jung Il authority, rapid power change has been done for recent 10 years. To arrange the aspect by times of terror crime following this power change, alienated party executives following the support of positive military first authority by Kim Jung Il after 1995 could not object to forcible terror crime behavior of military authority, and 1st, 2nd Yeongpyeong maritime war which happened this time was propelled by military first authority to show the power of military authority. After 2006, conservative party union enforced censorship and inspection on the trade business and foreign currency-earning of military authority while executing drastic purge. The shooting on Keumkangsan tourists that happened this time was a forcible terror crime by military authority following the pressure of conservative party. After October, 2008, first military reign union executed the launch of Gwanmyungsung No.2 long-range missile, second nuclear test, Daechung marine war, and Cheonanham attacking terror in order to highlight the importance and role of military authority. After September 2010, new reign union went through severe competition between new military authority and new mainstream and new military authority at this time executed highly professionalized terror crime such as cyber/electronic terror unlike past military authority. After July 2012, ICBM test launch, third nuclear test, cyber terror on Cheongwadae homepage of new mainstream association was the intention of Km Jung Eun to display his ability and check and adjust the power of party/military/cabinet/ public security organ, and he can attempt the unexpected terror crime in the future. North Korean terror crime has continued since 1980s when Kim Jung Il's power succession was carried out, and the power aspect by times has rapidly changed since 1994 when Kim Il Sung died and the terror crime became intense following the power combat between high-ranking officials and power conflict for right robbery. Now South Korea should install the specialized department which synthesizes and analyzes the information on North Korean high-ranking officials and reinforce the comprehensive information-collecting system through the protection and management of North Korean defectors and secret agents in order to determine the cause of North Korean terror crime and respond to it. And South Korea should participate positively in the international collaboration related to North Korean terror and make direct efforts to attract the international agreement to build the international cooperation for the response to North Korean terror crime. Also, we should try more to arrange the realistic countermeasure against North Korean cyber/electronic terror which was more diversified with the expertise terror escaping from existing forcible terror through enactment/revision of law related to cyber terror crime, organizing relevant institute and budget, training professional manpower, and technical development.

• Horticultural Science & Technology
• /
• v.34 no.3
• /
• pp.461-471
• /
• 2016

This study was conducted to establish an in vitro propagation system for sea-milkwort (Glaux maritima L.), which is an endangered coastal plant species with high horticultural value. Two phenotypes, 'Red type (RT)' and 'Pistachio type (PT)' based on the colors of stem and flower, were obtained from a personal horticulturist in 2009 and used for this study as plant materials. The stock plants showed typical morphologies in flower, capsule, and seed appearances as previously reported. Low temperature treatment at $4^{\circ}C$ for four or more weeks after in vitro sowing maximized seed germination percentage, indicating that imbibition of seed and subsequent low temperature treatment are crucial for its germination. The in vitro seedlings had phenotypic variation, falling into 'RT' and 'PT' classes like the stock plants. Although slight differences depending on genotype and medium were recognized, the fourth or fifth nodes detached from the in vitro seedlings revealed the best multiplication efficacy when estimated on the basis of total number of nodes of newly developed axillary shoots. In addition, the nodes from 'RT' and 'PT' regenerated the most shoots on medium supplemented with $0.5mg{\cdot}L^{-1}$ BA alone and $0.5mg{\cdot}L^{-1}$ BA plus $0.5mg{\cdot}L^{-1}$ IAA, respectively. The node culture-derived plantlets were well acclimatized in a culture room ex vitro and completed the pseudo-annual life cycle coincident with that in the natural salt march habitat with the current cultivation method of applying fresh water-irrigation under an inland environment. This work represents the first report of in vitro propagation of sea-milkwort. Thus, our study will contribute to exo-habitat conservation and natural habitat restoration of this endangered species in addition to development of a horticultural product.

• Korean Journal of Comparative Education
• /
• v.28 no.3
• /
• pp.135-159
• /
• 2018

This thesis compares and analyzes the dynamics between policy, knowledge and power of Myanmar's higher education development. The papers begins by exploring the dynamics during the Socialist Military Regime(1962~1988), the Collapse of Higher Education Era(1988~2010), Thein Sein's Reform Era(2010~2015) and the current Aung San Suu Kyi's Civilian Era(2015~Now). By highlighting recent dramatic policy changes, the article argues that the policy discourse on the subject of internationalization of higher education and the technocratization of education development policy by the current Civilian Government in its new policy discourse, that resulted in the active participation as well as the contributions of international donors has directly impacted on the policy dynamics around the Comprehensive Education Sector Review and the introduction of the National Education Strategic Plan 2016~2020. Further, by examining complex interaction between the current domestic education stakeholders and international donors in education sector in Myanmar, this thesis argues that the new analytical framework on the understanding of policy dynamics in developing countries goes beyond the national level. The paper argues that there needs to be broadening of the analytical framework towards the multidimensional analysis perspective that includes global, national as well as local level policy, knowledge and power dynamics in Myanmar's dynamically changing higher education sector.