• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.13 no.6
• /
• pp.39-48
• /
• 2018

Despite the fact that Daejeon has excellent technology infrastructures such as government-funded research institutes, Daedeok Innopolis, and KAIST, the infrastructure for initial investment and growth support for technological start-ups is not sufficient. In particular, the amount of venture capital supply in Daejeon is relatively low compared to other innovation infrastructures. The purpose of this study is to suggest the implications of the venture capital ecosystem in Daejeon area through the analysis of what evolution process has been undergoing and what improvements and complementary points are needed in the future. First, the role of public finance system should be strengthened in order to stimulate angel investment and private capital inflows to start-up companies. Second, in order to cultivate investment professionals in the region, it is necessary to grant local funds to local institutions, and to run investment expert training courses in universities. Third, cooperation between related agencies is needed to add accelerator functions to existing incubators and to foster new accelerators. Fourth, in order to expand the role of local governments, it is necessary to establish funds, to open innovation mindset of public officials, and to communicate effectively with the central government. Fifth, basic venture ecosystem infrastructures such as inflow of excellent manpower, prevention of technology deception, improvement of rechallenge environment should be expanded. Sixth, it is necessary to reorganize the step-by-step start-up financing policy of 'Establishment - Growth - Exit - Rechallenge'. This study is meaningful in that it has grasped the current status of venture start-up financial ecosystem in Daejeon, which is changing rapidly. In particular, it is different in that it identifies financial difficulties venture companies in Daejeon and finds ways to utilize existing financial ecosystem efficiently.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.10 no.3
• /
• pp.123-131
• /
• 2015

With a prospective of rapid deployment of IOT, a systematic approach to derive a business strategy for various possible scenarios of IOT applications is in great demand. In this paper, a conceptual framework that can be utilized for the purpose of assessing the market potential and of setting up an initial business strategy for IOT deployment is suggested. The framework consists of utilization of well-known value curve analysis, ecosystem analysis and house of quality tools. The value curve analysis is utilized to identify value-enhancing components of consumers as well as relative strengths of suppliers. The ecosystem analysis is used to identify relevant players of the supply chain and their mutual relationships. The house of quality is suitable for developing the initial business strategy of the supplier by converting consumer requirements identified by value curve analysis into technical requirements for the supplier. In this paper, we applied our proposed framework to two services that have high potentiality of being benefited by IOT: car-sharing service and telehealth service.

• World Technopolis Review
• /
• v.7 no.1
• /
• pp.2-14
• /
• 2018

Nowadays, we are standing in front of the $4^{th}$ Industrial Revolution that is featured by a great range of new and advanced technologies that influences all the domains of economies and industries. The great question that this revolution raises is how it can lead to a future that reflects the peoples' common objectives and values on how these advanced technologies can affect the life and transform the economic, social, cultural, and human environment. It is commonly agreed that to be adapted to these changes and needs and shape a society with competitive economies with highly-skilled individuals, we need to encourage innovation, entrepreneurship, new knowledge generation and exchange and true and effective collaboration and communication. In this complex scene, education seems to have a central and critical role on finding new ways of developing expertise and innovation within the existing knowledge procedures, with more and better cooperation between the key players. This paper argues the concepts, opportunities and challenges that are related to the learning ecosystem towards the needs raised by the $4^{th}$ Industrial Revolution. The education is discussed as catalyst but also as carrier of innovation and innovation practices and the basis of a relevant framework is presented that takes into account all the aspects, domains and key players of educational world and interacting domains. Having introduced the ideas of innovation, collaboration and technology advancement in this environment, this paper also presents a real case of practice, focusing on how more than 5.000 schools around Europe succeeded the last four (4) years to implement innovation activities in a collaborative way and under a unique but also flexible pedagogical innovation framework.

• Journal of Digital Convergence
• /
• v.11 no.10
• /
• pp.95-102
• /
• 2013

The paradigm of SW industry has been rapidly changing into mobile and cloud technology environment. Research model based on PEST-SWOT analysis was employed to derive internal and external factors connected with PEST factors through analyzing the current status and problems of SW HRD system in Korea. Survey was conducted by 20 experts who are involved in SW companies, university, and R&D research institute using AHP(Analytic Hierarchy Process) model. The empirical result showed that SW fusion HRD, creativity-oriented university education in the field of software, global education and exchange, and revitalization of SW venture ecosystem are derived as policy visions of SW HRD for smart industry ecosystem. Another findings are that SW fusion HRD, revitalization of SW venture ecosystem, Job Creation through revitalization of SW start-up, Creation of coexistence between SW large enterprises and SMEs, creativity-oriented university education in the field of software, and global education and exchange are presented in order in terms of the importance of policy priority.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.1
• /
• pp.141-158
• /
• 2023

From the perspective of an entrepreneur, one of the most important factors for understanding the inherent limitations of a startup, reducing the risk of failure, and succeeding is the composition of the talent, that is, the founding team. Therefore, a common concern experienced by entrepreneurs in the pre-entrepreneurship stage or the early stage of startup is the choice between independent startups and co-founding start-up. Nonetheless, in Korea, the share of independent entrepreneurship is significantly higher than that of co-founding start-up. On the other hand, focusing on the fact that many successful global innovative companies are in the form of co-founding start-up, the success factors of co-founding start-up were examined. Most of the related preceding studies are studies that identify the capabilities and characteristics of individual entrepreneurs as factors influencing the survival and success of entrepreneurship, and there is a lack of research on partnerships, that is, co-founding start-up, which are common in the field of entrepreneurship ecosystems. Therefore, this study attempted a multi-case study through in-depth interviews, collection of relevant data, analysis of contextual information, and consideration of previous studies targeting co-founders of domestic startups that succeeded in opportunistic startups. Through this, a model for deriving the phased characteristics and key success factors of co-founding start-up was proposed. As a result of the study, the key element of the preliminary start-up stage was 'opportunity', and the success factors were 'opportunity recognition through entrepreneur's experience' and 'idea development'. The key element in the early stages of start-up is "start-up team," and the success factor is "trust and complement of start-up team," and synergy is shown when "diversity and homogeneity of start-up team" are harmonized. In addition, conflicts between co-founders may occur in the early stages of start-ups, which has a large impact on the survival of start-ups. The conflict between the start-up team could be overcome through constant "mutual understanding and respect through communication" and "clear division of work and role sharing." It was confirmed that the core element of the start-up growth stage was 'resources', and 'securing excellent talent' and 'raising external funds' were important factors for success. These results are expected to overcome the limitations of start-up companies, such as limited resources, lack of experience, and risk of failure, in entrepreneurship studies, and prospective entrepreneurs preparing for a start-up in a situation where the form of co-founding start-up is attracting attention as one of the alternatives to increase the success rate. It has implications for various stakeholders in the entrepreneurial ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.1
• /
• pp.167-185
• /
• 2019

As most G-20 countries expect medical spending to grow rapidly over the next few decades, the burden of healthcare costs continues to grow globally due to an increase in the elderly population and chronic illnesses, and the ongoing quality improvement of health care services. However, under the rapidly changing technological environment of healthcare and IT convergence, the problem may become even bigger if not properly recognized and not properly prepared. In the context of the paradigm shift and the increasing problem of the medical field, complex responses in technical, institutional and business aspects are urgently needed. The key is to derive a business model that is appropriate for businesses that integrate IT in the medical field. With the arrival of the era of the 4th industrial revolution, new technologies such as Internet of Things have been applied to eHealthcare, and the need for new business models has emerged.In the e-healthcare of the Internet era, it became a traditional firm-based business model. However, due to the characteristics of dynamics and complexity of things Internet in the Internet of things, A business ecosystem-based approach is needed. In this paper, we present and analyze the major success factors of the ecosystem based on the 3 - layer structure of the e - healthcare business ecosystem as a result of research on e - healthcare business ecosystem based on emerging technology such as Internet of things. The three-layer business ecosystem was defined as (1) Infrastructure Layer, (2) Character Layer, and (3) Stakeholder Layer. As the key success factors for the eHealthCare business ecosystem, the following four factors are suggested: (1) introduction of the iHealthcare concept, (2) expansion of the business ecosystem, (3) business ecosystem change process innovation, and (4) business ecosystem leadership innovation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.10 no.6
• /
• pp.187-202
• /
• 2015

The continued development of smart devices representing smart phones and tablet PC has made significant changes to the ICT ecosystem. Along the development of smart devices, consumers' needs are also becoming increasingly diversified in addition to their rising expectations. Thus, in order to fulfill the changing customer needs, corporations in the ICT ecosystem have recently focused on appcessory products that are interlinked and utilized in existing smart devices. This study particularly analyzes the two corporations, Samsung Electronics and SK Telecom, which recently plunged into appcessory business. By the case study of these two companies based on the theories of ecosystem and platforms, this study analyzes the current status of the appcessory market, the potentials and significances of the business, business background of the two corporations, and the status of leadership competition in the appcessory market. In the case of Samsung Electronics and SK Telecom, the study shows that both corporations acquired new growth powers in the appcessory market with their entry into existing or other relating markets. Also, since the appcessory business is highly related to their existing businesses, each company was able to take advantages based on the capability that they already possessed and this relationship had positive effects on their overall businesses. In addition, the two corporations had common strategies in increasing their competitiveness by identifying internal weaknesses and building external cooperations. On the other hand, since the two companies have different business areas, their business background, business strategies, and the effects of expectations varied to each other. Thus, this study identifies commonalities and differences between recent smart platforms and corporations' engagement in the fierce leadership competition in the appcessory market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.8 no.3
• /
• pp.77-84
• /
• 2013

In this paper, we focus the changing role of universities of University-Industry Collaboration (UIC) for enriching the regional business ecosystem network. For this research, we analyze 'Regional Innovation System(RIS)' - a specific UIC program- which provides a marketing service for firms, especially, SMEs with a specific problem by a group of consultants including CEOs, professors, and heads of regional public or private service providers. Then we have analyzed using network analysis how the business network was changed from RIS. Moreover, we will interview the participants in the important position of the network and investigate the reason for bringing a change in the network structure by using this program. This study illustrates that various types of network are formed between university and SMEs. Furthermore, the networks surrounding SMEs are extended to the other people connected to them. This means that the business network of SMEs had been diversified via the facilitation of university. This study throws new highlights on the new role for the university as a network promoter in addition to the partner as a technology-provider in the regional business ecosystem. Moreover, the network analysis between before-and-after can be used for the evaluation of the effectiveness of the various UIC programs.

• Asian Journal of Innovation and Policy
• /
• v.7 no.1
• /
• pp.30-54
• /
• 2018

Tech start-ups and their ecosystems are gaining increasing prominence globally and so are in India, due to their potential to contribute to employment generation, innovations, productivity, national income and exports. Against this backdrop, this article analyzes the key characteristics of tech start-ups relative to traditional start-ups and modern start-ups in India. Further, the salient features of tech start-up promotion policies initiated by the government of India and government of Karnataka as well as the current regional and sectoral distribution of start-ups is elucidated. Subsequently, the structure and components of entrepreneurial ecosystems currently under evolution in the metro cities of India are examined. Finally, the key factors contributing to the growth of different ecosystem components and its implications for the future growth of tech start-ups are outlined.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.1
• /
• pp.151-165
• /
• 2020

Recently, the government has been spending a large amount of money to support start-ups with its major policies aimed at economic growth and job creation under the keynote of innovative growth. Nevertheless, the Global Entrepreneurship Development Institute (GEDI) gave a very low assessment of the social and cultural support areas of Korea's start-up ecosystem in the 2018 Global Entrepreneurship Index (GEI), indicating that unlike the government's interest, our perception of start-ups has not been positive. This study surveyed 300 prospective entrepreneurs and entrepreneurs. In addition, this study empirically analyzes how social support of those around them is related to their entrepreneurial intentions and behaviors. As a result, it was not possible to confirm whether social support affects entrepreneurial intentions, but social support had positive influences on entrepreneurial behaviors. In addition, social support was found to have positive influences on entrepreneurial behaviors with dual mediation of entrepreneurial self-dfficacy and entrepreneurial intentions. Therefore, it was confirmed that social support is a factor that influences entrepreneurial behaviors and that entrepreneurial self-efficacy has important parametric effects. The findings of this study suggest that the government and entrepreneurship support agencies need to reflect programs in start-up support poject to promote social support for start-ups and to enhance entrepreneurial self-efficacy.