• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.263-275
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• 2020

In the vortex of change, commonly referred to as the Fourth Industrial Revolution, Korea has a national task of changing the paradigm of economic growth from a chase-type economic structure to a leading one. The era has come when all resources of the country, as well as the government and businesses, must join in innovation and growth in order to maintain the pace of sustained economic development, and significantly advanced countries are stimulating members' innovation activities with various policies and systems as they enter the 21st century. South Korea is also making efforts to create an open creative space referred to as Makerspace or Fab Lab, to create an innovative voluntary environment for its citizens. This study explored factors that Makerspace, which is proliferating in Korea, should consider to secure development and sustainability as an innovation (start-up) space. Through prior research, openness and expertise were derived from the characteristics of Makerspace, and expert interviews confirmed that the capabilities lacking in Makerspace and the capabilities to be secured in the future are openness and professionalism. Also, specific components of openness and professionalism were presented through prior research, and implications for each subject's Makerspace were presented, such as openness, professionalism, and commercialization.

• Journal of Technology Innovation
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• v.31 no.3
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• pp.75-110
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• 2023

This paper aims at discussing the evolution of innovation theory from the beginning of the last century to present. Innovation theory has begun by Joseph Schumpeter in the beginning of the last century and his theory had not attained much attention compared to the mainstream economic theory. In the 1960s, some neo-classical economists analyzed the effect of technological change on economic growth and emphasized the role of demand in innovation process. However, in the beginning of the 1970s, Schumpeter's innovation theory, which emphasized the role of innovation and entrepreneurship in economic and social development, attained enormous attention by many liberal economists. They were called neo-Schumpeterians as they followed the theories and ideas of Schumpeter. In the middle of the 1980s, neo-Schumpeterians identified the concept of national innovation system(NIS), which is the total mobilization system of innovation resources for generating, appropriating and diffusing technological innovations. Soon this theory diffused very quickly at regional and sectoral level. As a result, there have been very active empirical studies on innovation systems in the world. Since the beginning of the 2000s the transition study have been actively carried out mainly in European countries. This study emphasizes the transition of existing innovation systems into more sustainable ones. In Korea we need to activate transition study, because there have been only few studies in this new theory.

• Knowledge Management Research
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• v.25 no.1
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• pp.21-41
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• 2024

The global Industry has been shaped by start-ups that originated with knowledge-based innovative strategies or technologies in the 21st century. Specifically, laboratory start-ups that rely on research papers or patents for new technology development are recognized for their high survival rate and the creation of employment opportunities. Our study concentrated on 'I-Corps', which also introduced in Korea, standing for innovation corps is a laboratory startup program launched in 2011 by the NSF(National Research Foundation) to commercialize R&D results and foster entrepreneurship as part of the policy to build a start-up system at the national innovation level. In this study, we proposed and empirically tested a research model focusing on teams participating in the I-Corps program to determine how startup team diversity, among the team characteristics of laboratory startups, affected patent performance. As a result of the analysis, among the proposed variables, age diversity, educational background diversity, and value diversity had a significant impact on patent performance. The results of this study are expected to further strengthen the theoretical and practical foundations of researchers or practitioners of the I-Corps program, as well as related areas involving technology & laboratory startups, intellectual property and knowledge management fields in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.1
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• pp.65-74
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• 2016

Recently our government has presented the realization of 'Creative Economy' as a primary goal of the state administration through encouraging start-ups and ventures. Activation of entrepreneurship education is an important task for a national job creation and entrepreneurship activation policy. Since 2012, as a mid and long term project, the Korea Ministry of Education has led to activate creative entrepreneurship, entrepreneurship education and entrepreneurial culture within university by installing entrepreneurship centers respectively in 61 universities. In this study, we provide future entrepreneurship improvement subject and policy implication through the case analysis of entrepreneurship center operation and management. In order to achieve the research purpose, we will examine the program and condition of successful entrepreneurship centers in overseas universities and explore the factors that can enhance domestic entrepreneurship center development and operational effectiveness by analyzing 61 university-entrepreneurship center survey. First, primary research was conducted through survey focusing on organization and operation of centers, entrepreneurship education, startup support for students and entrepreneurship culture activation to proceed with comparative analysis. Through this case study, we expect to be able to derive policy implications for the effective operation of entrepreneurship center and the nurture of creative entrepreneurial young generation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.1-8
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• 2014

The government has established a foundation activation measures across a total of 10 times to expanse job creation, promote new growth engines and enhance youth entrepreneurship for trying to spread socially. In order to improve startup activation policies and excavation, it is necessary to supplement the gaps going to construct a stable infrastructure through periodic status research on their occupational sense and entrepreneurship awareness. Since 2012, the government's has been surveyed to address the current understanding of the occupational sense and entrepreneurship awareness of population characteristics. Until 2013 only the youth were surveyed, recently from 2014 expanded its range to the public. This study laid the foundation for a more comprehensive set of analysis through which to learn and understand the differences between the status of each group for entrepreneurship awareness by utilizing survey data from the government. And this study was obtained from a survey of university students and the general public. A total of 3000 people nationwide survey was conducted about the entrepreneurship environment for start-ups and entrepreneurship awareness and success factors for a month. The University students survey result were classified according to the area, school and gender. And The general public survey was classified according to the area, the age and gender. Each response result indicates a significant difference between the students and the general public did not appear. But through this survey, This study would contribute the establishment of the national startup infrastructure.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.40 no.5
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• pp.339-345
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• 2016

In this study, we numerically investigate the thermal performance of an enhanced radial heat sink with a perforation and chimney structure. We estimate the thermal performance of the enhanced radial heat sink, and compared it with that of a conventional radial heat sink. The results show that the radial heat sink with perforation has a higher thermal performance when either of the diameter and the number of perforations is high. With regards to the radial heat sink with a chimney structure, we investigate primarily the effect of the fin number, and the spacing between the chimney and the base plate on the thermal performance. The results show that there are optimal values for the fin number and the spacing between chimney and base plate. In addition, the enhanced radial heat sinks have maximum thermal performance when facing upward ($0^{\circ}$), while it has worst performance when facing sideward ($90^{\circ}$). The perforation and chimney are shown to cause thermal performance enhancements of 17% and 20%, respectively, compared with a conventional radial heat sink. The proposed method is useful for starting business, and is useful in terms of venture and entrepreneurship.

• The Journal of Small Business Innovation
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• v.20 no.2
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• pp.35-50
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• 2017

The aims of this study is to analyze the effectiveness of firms financial status quo and the scale of financial support on SMEs overall performance. We have gathered the financial guarantee data from 1998 to 2013, provided by Korea Credit Guarantee Fund (KODIT), to analyze the effectiveness of Financial policy. To classify both financial status quo and scale of financial support, we utilized the following variables; Interest Coverage Ratio (ICR) and newly guaranteed amount ratio. To take the measurement of the overall performance, we employed profitability, growth ratio and activity index. To minimize the effect of repeated financial support (redundancy benefits), firms were selected based on the following criteria: firms that receive no financial support prior to implementing such policy over the last 3 years and no new financial support over the last 2 years. Results suggest that firms with higher ICR and large newly guaranteed amount influence on financial performance in terms of profitability index. Firms with lower ICR and large scale financial support showed a better performance compare to firms with small-scale financial support. Firms with large-scale financial support, irrespective of ICR inclined to have better performance to those of small-scale financial support in terms of growth index. For activity index, however, firms with large scale support led to higher performance in the short term. In turn, our analysis presents objective perspective with respect to the effectiveness of financial policy through credit guarantee on overall performance of SMEs. This study, therefore, implies that well-balanced SMEs supporting policy may lead to better directions.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.101-116
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• 2019

Technology-based start-up is important in that it encourages innovation, facilitates the development of new products and services, and contributes to job creation. Technology-based start-up activates entrepreneurship when appropriate support is provided within the ecosystem. Thus, understanding the technology-based start-up ecosystem is crucial. The purpose of this study is as follows. First, in Herrmann et al.'s(2015) study, we compare and analyze the ecosystem of each country by selecting representative regions such as Silicon Valley, Tel Aviv, London and Singapore which have the highest ranking in the start-up ecosystem. Second, we try to deeply understand the start-up ecosystem based on in-depth interviews with various stakeholders such as VC investors, start-ups, support organizations, and professors related to the Korean start-up ecosystem. Finally, based on the results of the study, we suggest development and activation of Korean technology-based start-up ecosystem. As a result, the Seoul start-up ecosystem showed a positive evaluation of government support compared to other advanced countries. In addition, it was confirmed that the ratio of tele-work and start-up company working experience of employees was higher than other countries. On the other hand, in Seoul, It was confirmed that overseas market performance, human resource diversity, attracting investment, hiring technological engineers, and the ratio of female entrepreneurs were lower than those of overseas advanced countries. In addition, according to the results of the interview analysis, Seoul was able to find that start-up ecosystems such as individual angel investors, accelerators, support institution, and media are developing thanks to the government's market-oriented policy support. However, in order for this development to continue, it is necessary to improve the continuous investment system, expansion of diversity, investment return system, and accessibility to the global market. A discussion on this issue is presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.2
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• pp.129-139
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• 2013

This paper is targeted on proposing ameliorating alternative to performance assessment method of GSEM through evaluating the current one, which is initiated by SMBA to induce fair competition among 5 GSEM across the country and accommodate the quality improvement of entrepreneurship education since 2005 after beginning the SMBA support, from the perspective of BSC(Balanced Scorecard) tool. Ultimately, it complements the policy defects of SMBA over GSEM, in particular, in the process of performance assessment and management. This paper carries out two studies as follow. First, throughout reviewing the previous studies relating to BSC applications to non-profit organization, it set out the direction of introducing BSC in assessing performance of GSEM in order to enhance its effectiveness. Second, it evaluate the rationality of performance assessing tools apllied to GSEM by SMBA on the basis of BSC application over non-profit organization, especially in education institution. Research results shows the following implications. First, the current evaluation system over GSEM is just merely assessment itself and not much contributions for the post performance management. Second, The annual evaluation just remains to check up whether the policy goals are met or not. Third, the current evaluation puts much emphasis just on financial inputs and hardware infra, not considering human resources and utilization of government policy and institution. Fourth, the policy goals are unilaterally focused on entrepreneurs. Fifth, the current evaluation systems do not contain any indexes relating to learning and growth perspectives for concerning sustainable and independent growing up. However, lack of empirical testing require this paper to need the further study in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.47-65
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• 2020

With the era of the Fourth Industrial Revolution in sight, innovative business models utilizing new technologies are emerging, and startups are enjoying an abundance of opportunities based on the agility to respond to disruptive innovations and the opening to new technologies. However, what is most important in creating a sustainable start-up ecosystem is not the start-up itself, but the process of research-start-investment-investment-the leap to listing and big business-in order to build a virtuous circle of startups that leads to re-investment. To this end, the environment created in the hub area where start-ups were conducted is important, and these material and non-material environmental factors are described as being inclusive by the word "entrepreneurial ecosystem." This study aims to provide implications for Korea's entrepreneurial ecosystem through the study of the interaction of the elements that make up the start-up ecosystem and the relationship of ecosystem participants in Singapore. Singapore has been consistently mentioned as the top two Asian countries in assessing the start-up environment and business environment. In this process, six elements of the entrepreneurial ecosystem presented by Isenberg(2010)-policies, finance, culture, support, human resources, and market-are the best frameworks for analyzing entrepreneurial ecosystems in terms of well encompassing prior studies related to entrepreneurial ecosystem elements, and a model of regional transformation is formed focusing on some elements to suit Singapore, the target area of study. By considering that Singapore's political nature would inevitably have a huge impact on finance, Smart Nation policy was having an impact on university education related to entrepreneurship, and that the entrepreneurial networks and global connectivity formed within Singapore's start-up infrastructure had a significant impact on Singapore's start-up's performance, researches needed to look more at the factors of policy, culture and market. In addition, qualitative research of participants in the entrepreneurial ecosystem was essential to understand the internal interaction of the elements of the start-up ecosystem, so the semi-structured survey was conducted by visiting the site. As such, this study examined the status of the local entrepreneurial ecosystem based on qualitative research focused on policies, culture and market elements of Singapore's start-up ecosystem, and intended to provide implications for regulations related to start-ups, the role of universities and start-up infrastructure through comparison with Korea. This could contribute not only to the future research of the start-up ecosystem, but also to the creation of a start-up infrastructure, boosting the start-up ecosystem, and the establishment of the orientation of the start-up education in universities.