• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.221-232
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• 2014

Many preliminary entrepreneurs are ready to start a business in every year. However, starting and preparing business have a lot of difficulties. Entrepreneurship is the most important factor for overcoming these difficulties. But, it is not easy to understand entrepreneurship to founders despite many research scholars. In this paper, we are focused on easy understanding of entrepreneurs. Instead of vague theories, we analyzed selected two companies in Korea. From the beginning until now, these companies have founders entrepreneurship and organization entrepreneurship. we studied these entrepreneurship factors with other Various causes. Analysis of two cases is summarized into three type. First, both companies had well-founded internal network system. Trained employees in internal network were flexible to meet the market conditions. Also, network effect made that employees can offer their idea and make discussions. Second, The company quickly recognized for organizational culture despite of most other companies recent awareness. This factor was the basic driving force for solving human resource management problem of small size companies. final factor is innovation capacity of these companies. Financial difficulties experienced of establishment is common to every company. However, two companies has continued to invest research and development despite of this financial problem. As a result, intellectual property management was accepted, as well as technology development. Clearly, these three factors are consistently applied since established and led to the company's continued growth and success.

• 한국벤처창업학회:학술대회논문집
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• 2020.06a
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• pp.25-29
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• 2020

최근까지의 국내외 투자 의사결정 요인을 살펴보면 주로 벤처캐피탈리스트 투자 성공 요인이 연구되어 왔다. 하지만, 2018년 이후 폭발적으로 증가한 투자 자금과, 우수한 스타트업의 성장으로 인해, 기업가들의 투자 거절 사례가 빈번하게 발생하고 있다. 따라서 투자자는 우수한 스타트업에 투자하기 위해 어떤 조건에서 투자를 거절당하는지 인지해야 할 필요가 있다. 본 연구는 주로 초기 창업자들에게 투자하는 국내외 벤처캐피탈리스트 7명을 인터뷰 하여 거절된 투자의 요인을 살펴보고, 우수한 스타트업 투자 유치를 위한 방향을 제시하려고 한다. 연구 결과 최근 3년 이내 투자자들은 잦은 투자 거절 경험을 하였으며, 기업가의 투자사 거절 요인은 1) 투자자의 낮은 산업 전문성, 2) 투자자의 낮은 장기 지향성이다. 먼저, 기업가는 많은 투자 기회를 인식하며, 과거와 달리 비재무적 조건에 비중을 두는 것으로 나타났다. 그 중 투자 기업의 전문성은 특히 기술 스타트업에서 많이 발견되며, 투자자가 피투자기업이 속한 산업의 기술적 이해가 낮을수록 투자가 거절될 수 있으며, 투자 목적의 경우, 투자사가 제시하는 투자의 목적이 장기 지향성이 낮을수록 투자가 거절될 수 있다. 이는 스타트업의 대표와 투자사의 상호성에도 부정적인 영향을 주기 때문이다. 따라서 초기 기술 기업에 투자하는 투자사일수록 투자사가 보유하고 있는 산업전문성과 일치하는 스타트업에 투자를 제안해야 하며, 초기 기술 기업의 기업가는 높은 기업 애착도가 있음으로, 스타트업과 컨텍하는 단계에서부터 투자사의 투자 성향에 대해 끊임없이 알리며, 장기지향적인 투자를 제안해야 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.77-98
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• 2020

Recently, the government provided about 35 trillion won to start-ups through a large amount of start-up support funds from the Korea Credit Guarantee Fund and the Korea Development Bank, and more than 100 trillion won to start-ups over the past three years.(2015-2018) The Ministry of SMEs and Startups announced that a total of 1.4517 trillion won will be supported by 16 ministries (90 projects) after surveying start-up support projects by ministries in 2020 to create a start-up country. Indeed, among the budgets supported by the Ministry of SMEs and Startups, startups accounted for 85%, while scale-ups (growth and maturity) were only 15%. However, the survival rate of Korean start-ups was far lower than that of developed countries. The survival rate for the three years after the start-up was 39.1 percent, with only about 4 out of 10 surviving, with 27.5 percent surviving for five years, and only 3 out of 10 surviving. On the other hand, overseas start-ups have a survival rate of twice as high as that of Korea for five years. Accordingly, this study aims to empirically analyze and examine the need for research on nascent entrepreneurs, which have recently been actively supported by the government, as well as the impact of start-up motivation and start-up preparation on the intention to continue business. The survey was conducted from April 1 to May 15, 2020 for nascent entrepreneurs nationwide, and 222 of the total 245 copies were analyzed, and the questionnaire was measured using the Likert 5-point scale. As a result of the analysis, first, all factors constituting start-up motivation were adopted by significantly affecting start-up satisfaction. In addition, among the sub-factors of nascent entrepreneurs' preparation, item preparation was adopted as a significant influence on start-up satisfaction. Second, the nascent entrepreneurs' satisfaction level was adopted by having a significant impact on the business continuity. Third, some of the motivations for self-realization of the motivation for start-ups were adopted by having a significant impact on the business continuity. In addition, the preparation of items for the start-up preparation of nascent entrepreneurs was partially adopted as they had a significant impact on the business continuity. Fourth, it was adopted by the mediation effect of start-up satisfaction between the motivation of the nascent entrepreneurs' preparation and the business continuity. In addition, it was adopted by the medium effect of start-up satisfaction between the nascent entrepreneurs' preparation and the business continuity. Based on the results of these studies, it is intended to draw practical implications, and to provide useful policy implications to increase nascent entrepreneurs' satisfaction and continue to carry out their start-ups.

• 한국벤처창업학회:학술대회논문집
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• 2018.04a
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• pp.173-176
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• 2018

창업도약기업의 제품개선 훈련프로그램은 초기기업이 자신이 보유한 기술역량 중심으로 제품 및 솔루션 개발 후, 시장(고객)에 출시했지만 잘 안 팔릴 결과이고, 초기기업들이 지속적인 사업성장(성공사업)을 하게하기 위해 매력적인 목표고객이나 시장이 원하는 목소리를 반영하고, 이에 부합하는 자사의 핵심기술역량을 파악 및 확보하게 하여 경쟁자와는 차별적인 제품을 개발할 수 있는 역량과 플랫폼 제공이 필요할 수 있도록 설계하였다. 운영된 제품개발/개선 훈련프로그램의 효과성을 파악하기 위해서 참여자의 특성과 훈련프로그램의 특성에 따른 훈련프로그램의 전반적 만족도를 통해 현업적용도와의 관계를 살펴보았다. 설문조사 대상은 2017년 11월에 창업도약패키지 후속지원사업인 제품개선 아카데미 참여자중 203개 기업을 대상으로 실시하였다. 분석결과 창업도약기업의 매출신장을 위해 학습의 효과가 있음을 확인하였다.

• 한국벤처창업학회:학술대회논문집
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• 2018.11a
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• pp.283-288
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• 2018

스타트업의 자금조달 능력은 초기 스타트업 생존에 가장 직결되는 문제이다. 스타트업은 정부 지원금을 비롯하여 엔젤투자자, 벤처캐피탈 등으로부터 자금을 지원받고 있지만 초기기업 회수시장의 불확실성으로 인해 투자 규모는 작은 편이다. 이에 따라 초기기업에 투자함과 동시에 경영 및 기술 멘토링, 교육, 관리 등을 체계적으로 지원하는 '액셀러레이터'가 최근 창업생태계의 핵심으로 떠오르고 있다. 액셀러레이터는 단순하게 인큐베이팅 시스템을 제공하는 것이 아니다. 초기기업의 팀빌딩부터 성장 과정을 함께하는 '공동 창업자'와 같은 역할을 하면서 이들이 성장해나갈 수 있도록 집중적인 멘토링과 교육 등의 프로그램을 제공한다. 이러한 시스템을 거친 스타트업은 생존 기간이 상대적으로 높고, 벤처캐피탈도 이렇게 성장한 스타트업 투자에 보다 더 적극적으로 참여하는 경향이 있다. 하지만 액셀러레이터 설립의 역사가 오래되지 않아, 관련 연구는 비교적 다양하지 않은 편이다. 이에 본 연구에서는 엔젤투자자, 벤처캐피탈과 다른 액셀러레이터의 특징이 무엇인지 분석하고, 특히 액셀러레이터가 스타트업 투자의사결정시 영향을 미치는 요인에는 어떤 것들이 있는지 렌즈모델을 통해 알아보고자 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.59-70
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• 2020

This study was proceeded to empirically identify the start-up support policy as an element that affects the performance of the early start-ups and measure the effectiveness of the current start-up support policy, in order to suggest the direction future policies according to the study. To accomplish this the influence of the start-up support policy on the early start-ups was analyzed, and the differences according to the industry and growth stage of the start-ups, as the characteristics of the start-ups, were identified. The research subjects collected real data of 297 start-ups of the past three years that were selected for the Initial Start-Up Package project, and performed multiple regression analysis on the influence between variables, and hierarchical regression analysis on moderating effects. The summary of the study is as follows. First, as a result of identifying the influential relationship between the start-up support policy and the performance of the start-up, sales had made a significant impact on the start-up fund, start-up mentoring, and start-up infrastructure(space), while start-up education failed to show a significant effect on the increase in sales. In terms of employment, start-up mentoring was the only field that showed a significant influential relationship. Second, as a result of identifying the moderating effect of the start-up's industry and growth stage, the industry did not have a statistically significant influence, but the interactive effect was seen in start-up education. To be more specific in terms of the sales relationship of each industry, knowledge services turned out to be helpful in improving sales, while manufacturing turned out to be effective in improving sales regardless of being supported with start-up mentoring and start-up infrastructure (space). The sales relationship regarding the start-up growth stage was identified to be statistically significant. The preliminary stage was not statistically significant, while providing start-up mentoring and start-up funding were effective for start-up stage and growing stage, respectively. On the other hand, employment did not perform a significant influence on the start-up growth stage. This study analyzes the effectiveness the start-up support policy for early start-ups, identifies the need in differentiated support policies according to the characteristics of the start-ups, and suggests implications for the direction in which future policies should be made towards.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.1-12
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• 2018

During few decades, Korean economy has been growing with heavy and manufacturing industries. However, the economy meets limitations of growth rate, and employment rate. The Korean government has been trying to overcome these limitations using development of venture businesses and re-organization of industrial ecosystem. These efforts make high survival rate of recent venture companies. There are previous researches about relation between characteristics of entrepreneur and managerial performance, there are several limitations. Firstly, most of papers were based on survey with specific region or industry. Secondly, related researches were carried out with unable to distinguish among firm's survival periods. This paper uses the '2017 Survey of Korea Venture Firms' data that is approved by the Korean government. This data includes whole industries and survival periods. The aim of this research is finding the effect of characteristics of entrepreneur on managerial performance of venture firms by different survival periods using data envelopment analysis (DEA). If entrepreneur has doctoral degree, the firm's managerial performance is lower than bachelor degree. In addition, over 10 years of working career, and joint-venture have positive effect on firm's performance. This paper can provide valuable information to venture related policy makers and investment decision makers.

• Proceedings of the KAIS Fall Conference
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• 2009.05a
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• pp.554-560
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• 2009

연구개발 자원을 활용하여 창업하는 경우 초기 연구개발에 대한 투자가 선행되어야 하며 이에 따라 물적, 인적 자원 등의 투입 여부, 규모와 시기, 방법의 적절성 등이 성공적인 창업 단계로 발전 할 수 있는 중요한 요소라 할 수 있다. 또한 세계적인 기술의 흐름과 시장의 흐름을 파악하여 시장을 선도할 수 있는 제품과 서비스의 개발이 이루어져야 창업 단계로의 성공적인 발전에 대한 확률이 높아 질 수 있을 것이다. 이 밖에도 관련 있는 여러 요소가 있을 수 있다고 가정한다면, 이 여러 가지 요인들 중 초기 단계의 연구개발 기업의 경우 성공적인 창업단계에 이를 수 있는 주요한 요소들의 특성과 외부의 환경적인 영향이라 할 수 있는 변수들은 무엇이며 각 요소 및 변수들의 성공적인 창업 단계로의 발전과의 상관, 인과 관계를 연구, 고찰해 보며 주요한 요소들 각각의 상관관계를 연구하여 이를 토대로 초기 단계의 연구개발 창업 기업에 있어서 성공적인 창업 단계로의 발전에 대한 주요 성공 요인을 해외에서의 창업 성공 요인에 대한 비교 연구와 국내의 사례에 대한 연구를 통하여 고찰하여보고자 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.1-15
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• 2016

Startups in Korea are experiencing for themselves the laws of survival through competition in the local and international market, and are performing active business movements based on these. Korea's economic growth rate is 2.6% due to the slump in the domestic demand and reduced exports brought by the MERSC incident in 2015. The Korea Development Institute has estimated the economic growth rate in 2016 to be around 3.0%. South Korea's economy is facing the crisis of low-growth solidification due to the decrease in economic growth, and it is forecasted that growth without employment and polarization will worsen. Startups in the high-tech industrial generation of a particular field wherein the market environment is rapidly changing must maintain a competitive advantage with the capabilities and functions exclusive to them. It is very important that they maintain a competitive edge by utilizing the capabilities exclusive to startup companies. Likewise, the accumulation of resources is also crucial in determining the success of a startup business. In a poor local startup ecosystem, majority of the startup companies are performing their business activities while striving for survival, rather than success. About 80% are struggling to survive and are failing to overcome the "Death Valley" faced 3-5 years after establishing the company. Since majority of the startups fail to achieve results during the initial stages of foundation, the importance of research on business activities and achievement during the early stages of establishment is being raised. In accordance to this, this research has performed an actual analysis on how the activities of startups during their preparation phase and early stages affect their achievements. A survey was done on the CEOs or executives (people in a position to make decisions) of local small and medium-sized enterprises that are considered start-ups, and 203 valid data were collected and analyzed. Results showed that the discoveries and utilized activities necessary for the businesses of startups have a significant impact on their achievement through the entrepreneur resources and external partners' cooperation; additionally, the related implications were discussed.

• 한국벤처창업학회:학술대회논문집
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• 2019.04a
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• pp.29-35
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• 2019

본 연구는 초기 스타트업의 제한된 자원으로 겪게 되는 어려움을 극복하는 과정을 이해하기 위해 부트스트래핑(bootstrapping)방법을 적용하여, 한양대학교 학생창업 기업인 (주)블랙루비 스튜디오 사례를 통해 설명하고자 하였다. 스타트업 초기 겪게 되는 자원 조달에 대한 문제는 끊임없이 반복되어 오고 있는 연구 주제이다. 이와 같은 문제에도 불구하고 스타트업의 초기 어려움을 극복하는 과정을 자세히 설명하는 연구들은 비교적 많지 않다. 스타트업들이 창업을 시작할 때, 부족한 자금과 제한된 자원을 해결하기 위한 방법으로 외부의 자금 유입을 줄여 위험을 감소시키고 내부적으로 자금 문제를 해결하는 방법인 부트스트래핑에 의존하게 된다. 따라서, 본 연구에서는 스타트업의 부트스트래핑 개념을 이해하기 위해 관련된 선행연구 검토와 부트스트래핑에 관한 Winborg와 Landstrom(2001)의 연구에서 제시된 32개의 세부 항목별 부트스트래핑 방법을 바탕으로 블랙루비 스튜디오의 사례에 적용시켜 연구를 진행하였다. 창업자인 소재우 대표와의 수 차례의 인터뷰를 통해 스타트업의 생존을 위한 부트스트래핑 방법 활용과 창업 초기 어려움을 극복하는 과정을 면밀히 분석하여 예비창업자들에게 통찰력 있는 시사점을 전한다.