• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.1-16
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• 2022

Although start-up is a key national strategy to increase national competitiveness and create employment, the survival rate of start-ups has not improved significantly. This is an important reason for the inability to provide timely and appropriate support to startups, which are in the early stages of start-up, due to the unique limitations of existing start-up support institutions and investors. The relatively recent accelerator is attracting attention as a subject of solving the above problems through professional incubation and investment. However, there are only a few empirical studies on investment determinants that affect the survival and success of accelerators, and there is a lack of theoretical evidence. Accordingly, in previous studies, 12 investment determinants were derived from a static, strategic, and dynamic perspective as accelerator investment determinants based on a business model innovation framework. This study subdivided the accelerator investment determinants derived through previous studies into 21 and analyzed the importance and priority of each factor using AHP (Analytic Hierarchy Process) analysis technique for domestic accelerator investment experts. As a result of the analysis, the top factors of importance of accelerator investment determinants were in the order of 'human resources', 'customer and market', 'intellectual resources', and 'entrepreneur's ability to realize opportunities'. It can be seen that the accelerator considers the core competencies of startups to implement solutions as the most important factor when making startup investment decisions. It was also confirmed that accelerators are strategic to create a clear value proposition and differentiated market position based on the core competitiveness of startups, and that the core value delivery method prefers a market-oriented business model and recognizes entrepreneurs's innovation capability is an important factor to realize a business model with limited resources in a rapidly changing market. This study is of academic significance in that it analyzes the importance and priority of accelerator investment determinants through demonstration as a follow-up study on accelerator investment determinants derived based on business model innovation theory that reflects the nature, goals, and major activities of accelerator investment. In addition, it is of practical value as it contributes to revitalizing the domestic startup investment ecosystem by providing accelerators with theoretical grounds for investment decisions and specific information on detailed investment determinants.