• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.3
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• pp.366-376
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• 2019

Youth unemployment reached a record high in 2017, and business revitalization is emerging as a means of overcoming this situation. The number of venture companies and amounts of new venture investments are increasing year on year, and the government has upgraded Small and Medium Business Administration to the Ministry of SMEs and Startups. However, the success rate of startups is relatively poor. Over the past three years only 39.1% of Korean startups survived and 90% of companies failed in the Valley of Death phase. Survival this phase is critical for early startups, and thus, the amount and timing of investments are critical. Current models for establishing business startups do not effectively attract investments because they lack practical, corporate evaluation variables. In this paper, we develop a mixed process that incorporates the factors and business models focused on by venture capital investors. In addition, we compared our Death Valley Venture (DVV) process with current methods and provide an example of its application.

• Journal of Plant Biotechnology
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• v.35 no.1
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• pp.23-29
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• 2008

Development of genetically modified crops using modern biotechnology is regarded as a promising way to combat with ever-increasing human population. Korea attempted to develop its own genetically modified crops essentially for the past 20 years, however no example of commercialization has been announced. Here, I briefly summarized current status of development and risk assessment of genetically modified crops in Korea. Then, I attempted to identify a death valley in the process of commercialization. Based on experience of risk assessment of 15 different genetically modified organisms, I suggested that lack of the screening of elite events may serve as a death valley.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.135-144
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• 2016

Korean government has invested about 400 million dollars to the business incubator using the facilities and human resources of universities and research institutes and successfully operated to contribute the economic development(1.6 billion dollars sales, 5,500 companies) and job creation(16,000 employee) in the end of 2013. Although incubators have grown rapidly, there is limited performance, like a hardware centered support, limited exploitation of resource in the university, less collaboration with the community, less star companies. This research provide a alternative capacity building direction based on the creativity and resource dependence theory. Specifically this paper suggest a building creative incubating center, traversing the valley of death, accelerator for the CPM(Capability, Product, Market) linkage, organic implementation of university resources.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.6 no.6
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• pp.461-467
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• 2005

The role of university is expanded from the human resource provider to demand site. The mission is also changed as a entrepreneurs. There is increasing in the needs of the university and industry cooperation(UIC), but cultural difference also happened. To successfully cooperation, we have to consider stakeholder's perspective and the size of companies and universities. Through the best c luster of innovation, we can figure out the key success factors of the universities, researchers, and leaders, and suggest the new characters for successful UIC.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.49-62
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• 2016

Technology-based start-ups have great economic ripple effect such as economic growth and job creation. Therefore, a strategic approach is required in order for such start-ups to continuously grow. However, many technology-based start-ups do not survive the Death-Valley and are being eliminated from the market. This is an empirical study on influencing variables that have impact on their performance. This study presents growth intention and influencing variables that have impact on performance (financial performance, technological performance) based on previous research on technology-based start-up. Also, this study examines the relationship between entrepreneurial competence, team commitment and growth intention, and finds the effect of controlling business-network. Structural equation modeling was performed in order to test the research hypothesis. Survey was conducted on the firms that have been certified by Youth Startup Academy of Small and Medium Business Corporation. A total of 306 samples were collected from the survey. An empirical test was conducted on the research hypothesis using SPSS 21.0 and Amos 22.0. The result of hypothesis test shows that growth intention has positive influence on both financial and technological performance, and entrepreneurial competence (technological competence, strategic management competence, creative competence and team commitment) has positive influence on growth intention. Also, the research proved that business-network has regulation effect between human resource trait and growth intention. The result of our study will provide practical insight to future start-ups for continuous growth and successful running of their firm.

• 한국벤처창업학회:학술대회논문집
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• 2016.04a
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• pp.70-78
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• 2016

기술사업화에 대한 중요성은 점점 강조되고 있지만 높은 기술 우수성이 항상 성공적인 비즈니스로 이어지는 것은 아니다. 또한, 기초연구 및 기술개발에 많은 투자를 하는 기업 역시 항상 높은 이윤 창출을 장담할 수는 없다. 이는 연구개발 수준이 상용화되기 어려운 단계에 존재하는 경우인 기술적인 문제와 기술이 사업화되는 시장이 불완전하여 합리적으로 작동하지 않는 시장측면의 문제 모두가 원인이 된다. 따라서 기초과학의 연구 성과를 바탕으로 이러한 시장의 불완전성 아래 연구 및 사업화 주체가 새로운 기술의 개발과 사업화를 성공적으로 수행하기 위해서는 외부의 파트너들과 제휴 및 협력 체계를 구축하여 자금이나 인력 등 필요한 자원을 효과적으로 확보하여 활용할 수 있어야 한다. 기존 연구에서는 기술에 대한 접근방법에 따라 연구개발(R&D) 관점, 기술경영(Management of Technology)관점, 기술혁신(Technology Innovation)관점으로 많은 연구가 이루어졌으나, 기술사업화(Technology Commercialization)관점의 연구는 많이 이루어지지 않고 있다. 본 연구에서는 기초과학을 연구하는 과정에서 필요한, 또는 실현 가능한 비즈니스를 살펴보고, 기술의 속성(암묵지, 기술가치의 객관화, 혁신 주체 간 정보의 비대칭 등)을 통해 시장의 불완전성을 이해하고자 한다. 또한, 기술이 사업화로 연결되지 않는 현상, 즉 '죽음의 계곡(Valley of Death)'을 탈피하는 것에 대한 적절한 대응방안으로써 기술사업화 협력요인을 포함하고 있는 과학기술 비즈니스의 성공요인과 함께 과학벨트의 역할을 중심으로 전략적 접근을 시도하고자 한다.

• 한국벤처창업학회:학술대회논문집
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• 2022.04a
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• pp.197-204
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• 2022

국가차원의 창업장려책으로 인해 제2의 벤처붐이라고 부를 만큼 스타트업 및 벤처 창업이 활성화되면서, 데스밸리를 극복하고 창업의 성공률을 높이기 위한 노력의 중요성이 대두되고 있다. 기업이 생존율을 높이고 성장으로 나아가기 위해서는 죽음의 계곡에 직면하는 가장 큰 부분인 자금 조달 및 투자유치에 대한 고민과 대책이 필요하다. 창업의 활성화는 창업초기의 높은 실패율을 낮출 수 있는지의 여부가 그 성패를 좌우하는 중요한 요인이다. 기업의 생존은 기업의 내적 요인뿐만 아니라 기업의 외적요인인 시장이나 산업의 상황에 의해서 영향을 받는다. 본 연구에서는 혁신 부서를 보유한 기업의 전략적 지향성과 외부지식활용 능력인 흡수역량이 스타트업의 데스밸리 극복에 미치는 영향을 살펴보고자 한다. 또한 스타트업 생태계 특징인 개방형혁신과 벤처캐피탈 지원의 조절효과를 분석하고자 한다. 종속변수는 기업이 손익분기점을 달성 한 후의 매출액, 순이익, 시장점유율, 종업원 수의 증가를 봄으로써 데스밸리 극복의 기준으로 삼고자 한다. 분석결과 전략적 지향성은 데스밸리 극복에 정(+)의 영향을 주는 것을 밝혀졌다. 흡수역량과 개방형혁신, 벤처캐피탈의 지원의 조절효과는 표본수가 적고 결측값 있으므로 유의미한 영향을 확인하지 못하였지만 추후 표본수를 늘려 다시 측정한 후 그 결과를 보고자 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.129-140
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• 2012

Korea Atomic Energy Research Institute(KAERI) invested the technology and made the Research Institute Company, SunBioTech with Korea Colma in 2006. It is the first Research Institute Company, based on the 'Law for Daedeok Innopolis Development'. this company made a product of HemoHim which is the supportive functional food for the cancer treatment. This technology is very unique and get the Triad Patent Families. This paper deal with the new technology based innovation and the product is very sensitive because of the consumer oriented. We study the successful technology commercialization process of HemoHim and suggest a implication for the company and decision makers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.9-17
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• 2012

This paper integrates elements from the theory of agency, the entrepreneurship education, the start-up policies. Entrepreneurship education is demanded to enhance success of business candidate for business establishment and to increase start-up survival. Three researches are made by this study. First of all, Educational performance is measured and it explains why linked policies is needed. To explain linked performance, this paper introduces several hypothesis. These are about a rate of start-up failure caused by agency problem and a rate of education effect decreasing agency problem. Secondly, operation performance of it can be increased by linking among policies and should be for the original goals of start-up policies. Finally, several ideas including start-up certification is proposed. Start-up certification has role of contact point of different entrepreneurship policies. As a result, level of satisfaction of policies will increase and specially of education program by linked effects.

• Journal of Convergence for Information Technology
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• v.8 no.3
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• pp.169-174
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• 2018

Today, the world has reached 'Industry 4.0'. Industry 4.0 has high uncertainty in various aspects because it is based on building a smart chain where the various elements that make up the industry can communicate with each other. Based on the above facts, based on the researches of the previous researchers, we have searched for the countermeasures of small and medium sized manufacturing companies in Korea in order to minimize the negative aspects of establishing the basic concepts and functioning of Industry 4.0. As a result, efforts to accurately identify and address the uncertainties of Industry 4.0 in a variety of ways will help to drive business growth and economic growth in the country through smart factories, which are at the heart of Industry 4.0.