• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.3
• /
• pp.169-183
• /
• 2019

Should a startup file for a patent subject to imitation in its quest to attract venture capital(VC) investors? Considering the US pharmaceutical biotechnology industry context, this paper attempts to answer this question by investigating the relations between the number of applied patents of startups, patent imitability, and the total amount of money the startups received as their first VC funding round. Data of 157 US-based pharmaceutical biotechnology startups founded in between 1995 and 2005 are analyzed. Empirical results from this study show that the number of applied patents is positively related to the total amount of money received at the time of the first funding round, and patent imitability is negatively related to the total amount of money received as first VC funding round. Nonetheless, the interaction term between the number of applied patents of startups and patent imitability came out as positive, raising interesting questions and implications for innovation-oriented startup entrepreneurs. The current study's empirical findings suggest that, in the pharmaceutical biotechnology sector, VC investors pay attention to the quantity and quality of the patents possessed by startups when they decide the level of funding. In particular, imitability of applied patents may not be a one-sided concept related to negative features such as the weak protectability of an invention. Rather, patent imitability may be a multi-facet element which also contains positive attractiveness of the startup's invention. Furthermore, it seems that the positive side of imitability can be augmented by the number of applied patents.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.44 no.1
• /
• pp.175-191
• /
• 2020

This study proposes an entrepreneurship education process for fashion product start-ups through rewards-based crowdfunding. It examines issues such as: the general concept of crowdfunding and the pros and cons of rewards-based crowdfunding, the detailed curriculum plans in a chronological order for the regular class development, and the presentation of a visual plan to show the whole process. An entrepreneurship education process is developed in 13 steps: research on crowdfunding market, prototype plan, prototype production, story development, visual contents development, rewards development, project evaluation, public schedule & service setting, period setting & start funding, community management (Q&A), funding ends & deposit, complete manufacturing & start delivering, and the final information disclosure & open the next project plan. This research is intended to investigate rewards-based crowdfunding as a new paradigm of entrepreneurship and apply entrepreneurship education in fashion product development. However, it is limited to studying the Wadiz crowdfunding platform in Korea. Therefore, we propose a case study on various crowdfunding platforms in Korea, a case study on entrepreneurial curriculum application, and a follow-up study on the possibility of entry into an overseas crowdfunding platform.

• The Journal of the Korea Contents Association
• /
• v.20 no.3
• /
• pp.179-189
• /
• 2020

This study analyzes the status and results of equity crowdfunding film projects from 2016 to 2018. The film project is conducted in the form of general corporate bonds and participating bonds, and 41.5% of the total bonds were issued, 9.5 billion won. In addition, a t-test analysis of the movie's the breakeven point and audience numbers showed that statistically significant and the average number of audience members was low. Therefore, this study suggests the following for the sustainable growth of the equity crowdfunding film project. Equity crowdfunding brokers should reinforce the review of the possibility of achieving the breakeven point of the film and the factors affecting the box office in the investment manual, and should also actively attract projects on the big films that are likely to be successful. This study is meaningful in that it analyzes the equity crowdfunding film project, which has not yet been widely studied in Korea, and is expected to provide implications in the subsequent research and system improvement process.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.12
• /
• pp.515-522
• /
• 2018

Current signs of a downturn in South Korea's economy include the sharp drop in consumption. Considering internal and external complications such as the raise in minimum wage and fierce global competition, people's taste and purpose of consumption is shifting as well. Under such circumstances, crowdfunding provides a new investment and distribution channel for businesses in their initial stages. Crowdfunding can serve as a key driver of growth in early stages of business operations and lead to growth in consumption as a new distribution channel. This study explores how customers perceive the process of reward crowdfunding, especially when it comes to fairness in procedure, interaction, and distribution. In addition, we further seek how perceived fairness affects customer satisfaction and loyalty in the industry.

• The Journal of Society for e-Business Studies
• /
• v.20 no.1
• /
• pp.137-151
• /
• 2015

Crowdfunding is a novel method for funding from many individuals using web based platform often in return for products or equity. It allows individual entrepreneurs to create diverse products and services. This thesis elaborates a theoretical foundation for identifying the factors that must have motivated the funders in sponsoring crowdfunding projects. Based on the motivation theory, the proposed research model is constructed with intrinsic and extrinsic motivations from relevant literatures. We also examined how different crowdfunding modes ('Keeping It All' and 'All or Nothing') moderate the proposed research model. Based on the survey from various crowdfunding service providers in Korea, this empirical study found that continuous participation in crowdfunding is positively correlated with factors such as enjoyment, familiarity, agency credibility and reward, while peer-influence shows negative correlation. Furthermore, moderating effects of funding modes significantly affect continuous participation. These empirical results contribute insights on the emerging phenomenon of crowdfunding from funders' perspectives and shed lights more on the ways that the actions of platform providers may affect their ability to receive entrepreneurial financing.

• The Journal of the Korea Contents Association
• /
• v.14 no.7
• /
• pp.125-136
• /
• 2014

The purpose of this study is to derive a implications for and analysis a CrowdFunding cases in order to activate domestic Community Art. First, in the area of culture and art of CrowdFunding platform, search for Community Art' projects were selected examples of success and failure. As a result, differences in sample were compared in five items of Confidence & Information & Communication & Content & Benefit aspect etc,. Additional total analysis result, Genre and Period, clear differences in terms of compensation and Promotion occurred, as well as the need to develop new goods and services compensation was raised. Based on these implications, this study is to be a practical implication to Community Art of difficult to create its own fundraising. On the other hand, we suspect the environment of the domestic previous research related to the evaluation of Community Art is insufficient, and so must be concurrent also study the framework of analysis and systematic evaluation to complement these parts in the future.

• Journal of the Korean BIBLIA Society for library and Information Science
• /
• v.34 no.1
• /
• pp.53-74
• /
• 2023

This study aims to explore information seeking behavior of natural scientists when they are writing a research proposal for applying to funding. It focuses on understanding their information needs and information seeking behavior, and factors influencing the behavior. Based on the conceptual framework of task-based information seeking, qualitative research methods including in-depth interviews and diary study are used. The results reveal that a variety of communicative subtasks take place in the process of research proposal writing. Also, the scientists tend to need information related funding opportunities and to research design, and access sources including human resources, documents, online databases and websites to meet their information needs. Finally, the study shows that the scientists' information seeking behavior when writing a proposal is influenced by personal, task-related, and sociocultural factors. This study will be helpful to design effective information services and strategies to assist science scholars applying to research funding.

• The Journal of the Korea Contents Association
• /
• v.15 no.12
• /
• pp.541-549
• /
• 2015

Research about U.S. and European countries demonstrated that startups and young firms account for nearly all net job creation. If we want to bring down unemployment and to increase economic growth rate, we need to create new companies and to make them to grow. Credit availability is one of the most important factors for entrepreneurs as they attempt to start or expand a business. For young firms, access to credit for business growth can mean the difference between survival and failure. Equity crowdfunding is an innovative means of raising capital for businesses. Crowdfunding campaigns can give new business access to a large pool of investors. This brings huge benefits for marketing and increase provability of success of business and ROI, so it leads follow-on investment from Venture Capital and Angel investors. In Korea, the survival rate of startups and average growth rate of survivors is far lower than those of the U.S or other countries due to lack of funds for startup or early business growth. Equity crowdfunding can be a new funding source for venture or startups. It can increase startup and survival rate, in addition to the growth rate of survivors, resulting in decreased unemployment rate. In Korea, Equity crowdfunding will be available from 2016. Further study is needed to determine whether the impact of crowdfunding in Korea on job creation will be similar to its impact in the U.S.

• Journal of Venture Innovation
• /
• v.6 no.1
• /
• pp.95-114
• /
• 2023

As the Fourth Industrial Revolution progresses, the importance of startups is becoming more prominent. Additionally, the role of accelerators in ensuring the sustainability of startups is also being emphasized. Therefore, in this study, among the services provided by accelerators to startups, the mentoring service, education service, funding service, and networking service tried to empirically analyze the structural relationship that affects startup performance through the dynamic capabilities of start-ups. To achieve this, we conducted a survey in February 2023 targeting startup CEOs and executives who had experience with accelerator program services. A total of 238 valid responses were analyzed using structural equation modeling with Amos 24. The results of the empirical analysis were as follows. The accelerator program services, including mentoring, education, funding, and networking services, had a significant positive effect on startup dynamic capabilities. Among the accelerator program sub-factors, networking services had the highest impact on startup dynamic capabilities, followed by mentoring, funding, and education services. Furthermore, startup dynamic capabilities were found to have a significant positive effect on startup performance. On the other hand, startup dynamic capabilities were found to mediate the relationship between mentoring, education, funding, networking services, and startup performance. Dynamic capabilities are a critical factor for startups, and the finding that accelerator programs can have a significant impact on startup performance by mediating these dynamic capabilities is significant both academically and practically.

• Proceedings of the Korea Information Processing Society Conference
• /
• 2021.11a
• /
• pp.466-469
• /
• 2021

최근 자연어 처리에 대한 관심이 증가함에 따라 자연어 처리 기술을 활용한 다양한 추천 시스템이 등장하고 있다. 본 논문에서는 자연어 처리를 이용한 서비스를 개발한다. 본 논문에서 개발한 서비스는 KoNLPy 와 Word2Vec 을 이용하여 크라우드 펀딩 프로젝트 창작자 및 후원자에게 키워드 및 키워드와 유사한 단어가 제목에 포함되는 프로젝트를 추천해준다. 단문 텍스트로서 프로젝트 제목을 사용하여 데이터를 자연어 처리 한 후, 딥러닝 모델에 적용시켜 추출한 데이터를 기반으로 창작자와 후원자에게 추천해주는 방식이다. 따라서 본 서비스는 프로젝트 제목 정보를 통한 추천 시스템의 개발로, 나아가 영화, 도서와 같은 콘텐츠 추천 분야에도 적용할 수 있을 것으로 기대한다.