• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.13 no.5
• /
• pp.131-154
• /
• 2018

While strong investments on startup and venture ecosystem prosper worldwide, growing interest on nurturing startup ecosystem in Korea is also on its way. However, korean entrepreneurial ecosystem currently results few successful business models with those continuous development of itself compared to the one in China, which is breeding more than 50% of unicorns internationally. Accordingly, this study examined how people in the venture ecosystem, especially in IT industry feel about themselves and startup itself and compared startup ecosystem in Seoul, Korea to the one in Chengdu, China considering each of economic, social and administrational environment. The study tried to provide an implication about the future orientation of Korea's starup and venture ecosystem to policy makers and the ones inside the environment to make a better one. Therefore, the study choose Seoul, Korea and Chengdu, China as geological specimens of startup ecosystem and conduct qualitative study by interviewing selected ones who work in startup incubator, accelerator specified to IT industry and started their own business in IT industry funded by startup reward program. The study categorize the result in social, economic, and administrative parts and screens whether the interviewees from both Korea and China have similar opinions toward each of questions and can be translated to have tendency or not in each part of study. According to the study, the national recognition of startup should be moved from means of maintenance such as restaurants, franchise business to IT startup especially based on software business for the sustainable flourish in Korean venture ecosystem. Investors including accelerator, Angel investors and VCs should be less risk-aversion and therefore prefer stake purchase to solely giving subsidies. The role of governors should be limited to be a middleman of the network, connecting each people in need inside the ecosystem and their reward program should focus on nurturing the growing ones, not just multiplying the numbers of startups to expand the size of entrepreneurial ecosystem. Since this study indicated that entire revision of startup ecosystem should be applied to make a better one, it could be used to design future entrepreneurial infrastructure and the ways of activating startup ecosystem elsewhere in Korea.

• Journal of Technology Innovation
• /
• v.19 no.3
• /
• pp.115-140
• /
• 2011

The fact that innovation activities of venture firms and start-ups play crucial role in driving industrial development and economic growth has significantly increased the importance of business incubator and techno-park which promote new businesses creations. This review paper aims at not only generating performance measurement index of business incubators but also categorizing performance determinants in accordance with three different theoretical perspectives of resource-based view, strategy patterns, and social networks. Futhermore, as future direction of research, this paper emphasizes structured research efforts on the critical effects of incubator's governance patterns, external and regional contexts, and analysis of government incubator policy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.12 no.3
• /
• pp.53-63
• /
• 2017

With increasing the importance of venture startup in the national economy, a trend shows that the government's policy support for venture startup is not only strengthened, but also entrepreneurial enthusiasm is increasing. In order for this trend to continue as an ongoing phenomenon, not a temporary phenomenon, venture startups should continue to grow with survival competitiveness. In this respect, there is a time when it is necessary to study the factors affecting the success of venture startups more than ever. There is a limit to seeing main factors, which affect the entry into the growth stage with survival competitiveness for the success of venture startups, as only 'entrepreneur capacity' and 'differentiation strategy' claimed by existing previous studies. As a more fundamental factor, entrepreneurial behavior is important in terms of opportunity discovery and opportunity utilization, but research into this falls short of expectations. This study is intended to look into success factors of venture startup. To achieve this, a survey was empirically carried out to CEOs in 100 small and medium venture startups through AHP analysis. The results are as follows. As stated above, entrepreneurship of success factors in venture startups is considered most critical, followed by innovation, economics, and technology. And 'entrepreneur's competency', 'positive entrepreneurial motivation', 'creative technology utilization', and 'continuous investment in technical development' are considered most critical for 'entrepreneurship', 'innovation', 'technology', and 'economics' as sub-factors, respectively. Consequently, entrepreneur's entrepreneurship that has been required in general startups is a critical factor to be also in common required in venture startups. This means that they can secure the competitiveness of venture startup along with continuous investment support in business startup with a positive mindset and their own technological competence as innovators to overcome the risk and uncertainty of business startup as entrepreneurship that marks the start of a new enterprise.

• Journal of Digital Convergence
• /
• v.9 no.6
• /
• pp.295-311
• /
• 2011

The government is working out the development of a venture enterprise through a venture certification system. The broad effects of its policies are anticipated by the government and revealed in the 'The Survey on Actual Condition of Venture Enterprises 2010'. These benefits include the revitalization of start-up, promotion of technological innovation, progress in marketing ability, improvement in corporate image, financing and investment, and benefit from tax reduction & exemption. However, with the estimation of production function and sales function, which both uses capital and labor as a basic elements, it was found that only 'financing and ease of investment' produces a statistically significant effect on production and sales. An addition, this study looks into whether venture-supporting system are helpful to the eradication of technical inefficiency. The policies brought about positive changes in reduction of technical inefficiencies except with regard to the ease of start-up where it was found that an increase in inefficiencies was the result.

• International Commerce and Information Review
• /
• v.17 no.2
• /
• pp.227-251
• /
• 2015

Purpose - The purpose of the paper is to show that the Effects of graduate wages on support program of UIC is the main topic, due to point of view of the need for change from school-level to student-level. UIC support program is divided into four areas: infra, education, Commercialization, start-up. Design/Methodology - Data were collected three survey from a University UIC Survey(2012) and Self-diagnostic research(2012), and Employment Training Panel(2012). UIC support program is divided into four areas, and graduate wages is researched Average monthly wage, bonuses, additional duty allowance. Statistical methods is used basic statistics, crosstabs, regression analysis Findings -There is was much higher effects in total wages of three variable, first on much Intellectual Property Registration(IP) in university teachers, second university students have founded a private space for start-up, and third much national certification staff from the university. Implications - The issue is that UIC education can not be greater practical effect on the wages of graduates yet. Actively support and quality training support from the government in the UIC program is expected to be followed.

• Journal of Internet Computing and Services
• /
• v.16 no.4
• /
• pp.121-130
• /
• 2015

Technology based start-up is actively encouraged for job creation and economic performance in Korea. The Korean government has implemented a variety of policy for regulatory improvement to vitalize technology based start-up. In order to maximize the effectiveness of the policy for regulatory improvement should be actively reflect the opinions of policy beneficiaries. In this study, The importance of "The progress plan for regulation improvement about vitalization of start-up(25 contents)" published by the government was analyzed using AHP method. The object of study is the beneficiary of the policy(CEO of ICT sector). Analysis showed that the 25 contents were classified into four(1 - expectation of effect, 2 - urgency of system enforcement, 3 - complement of deficiencies, 4 - after careful consideration). This study has a academic significance to quantitative analysis about importance of policy for regulatory improvement. Also, It can be utilized when policy making and practice about technology based start-up.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.4
• /
• pp.1-15
• /
• 2020

As the entrepreneurial ecosystem turns out to be a leading factor in improving nation's entrepreneurship, many studies are underway in the country to develop the start-up ecosystem. Although the entrepreneurial ecosystem is receiving attention as an essential factor for the nation's economic growth as well as entrepreneurship due to its inter-relationship with start-ups, government agencies and investors, criticism of measurement indicators has been increasing due to the different institutional and political contexts of each country, including the various definition of start-up ecosystem. In this study, we develop indicators that are suitable for domestic conditions in Korea and that can measure the level of start-up ecosystems in each regional level. FGI and Delphi surveys by scholarly experts in each field of start-ups & entrepreneurship were conducted to verify how well existing indicators fit the domestic situation and to develop indicators that can measure the local entrepreneurial ecosystem in Korea through close examination. As a result, the local entrepreneurial ecosystem consisted of three to four sub-components and 38 sub-components, each consisting of seven indicators, including Policy, Investment, Culture, Market, Human Capital, Support and Knowledge. It is expected that this research will be used to diagnose local start-up ecosystems and to propose discriminatory policies that can complement regional strengths and weaknesses.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.2
• /
• pp.95-111
• /
• 2023

Korea has achieved a high startup rate by promoting government-led startup policies for national economic and industrial development. However, as high as the startup rate is, the closure rate of startup companies can be judged to be insufficient for the qualitative growth of the domestic startup ecosystem. This study aims to investigate how to improve the survival rate of startups by overcoming the valley of death from a location environment perspective. It analyzes the effects of technology orientation and market orientation of start-ups on management performance and the moderating effects of economic, accessibility, and network factors that constitute the location environment. To achieve the research objectives, the empirical analysis was conducted on start-up companies that received corporate support projects from innovation intermediary organizations. The results show that R&D capability of technology orientation has a significant effect on management performance, and market information generation and market information response of market orientation have a significant effect on management performance. As for the moderating effect, accessibility, a sub-factor of the location environment, has a positive moderating effect on the relationship between technological innovation and managerial performance, and the location environment (economy, accessibility, and network) has a positive moderating effect on the relationship between market information generation and managerial performance. This study compared and analyzed previous studies on the success and failure of start-ups and identified common factors. In addition, this study provides policy implications for the sustainable growth of startups through empirical analysis and interview with stakeholders. For future research, it is necessary to compare and analyze start-ups in metropolitan areas and non-metropolitan areas. In addition, it is necessary to study startups that have moved out of the region and into the metropolitan area to find ways to develop the regional startup ecosystem.

• Journal of Digital Convergence
• /
• v.20 no.3
• /
• pp.275-281
• /
• 2022

This paper intends to provide a more effective understanding of the management performance (survival and growth) of startups and to suggest methods that can be applied to empirical research related to startups in the future. Therefore, in this study, the effect of entrepreneurship, trend analysis, and government support on business performance (non-financial and financial) is studied. A total of 220 questionnaires were received, and 215 were adopted except for 5 insincere questionnaires. Therefore, it was evaluated based on statistical data of 215 companies surveyed by startup officials. The questionnaire was analyzed using the SPSS 28.0 statistical program. The results of the study confirmed that all three items of the hypothesis, government support, entrepreneurship, and trend analysis of start-ups all play a positive role regardless of the difference in financial and non-financial management performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.3
• /
• pp.121-131
• /
• 2012

The social welfare service is expanding to different field as the social welfare budget is increasing. By this opportunity, it needs to make clear of the basis of argument that the necessity of development of Korean government's support and aid by social policy should be worked. This research dealt with the national economic effect in relation to welfare for the disabled in terms of welfare economics. Budget spending for the achievement of welfare for the disabled makes an enterprise or a person spend money continually either in a direct or indirect way. This study shows by the use of analysing the related production effects, as an economical influence of welfare for the disabled budget assuming by means of measuring. The results are analyzed that the production of one trillion and three hundred billon won is annually caused and 8,015.9 hundred million won of the direct and indirect added value is caused by the welfare of the disabled budget expenditure of three local governments of capital area. And it is also assumed it creates employment cause personnel (17.673.2 person) and job cause members (26.825.2). The result of the study anticipates the role of basic research material for the necessity of intervention, support, and aid by the government and local government revised policy for the disabled welfare field at this point in time where the welfare budget policy in terms of universal social service is reinforced, rather than the trend, until recently, of realizing the social welfare budget as consumption expenditure and the function of performing the effect and evaluation in tentative action of social conflict.