• Journal of the Economic Geographical Society of Korea
• /
• v.7 no.1
• /
• pp.1-27
• /
• 2004

In this paper we attempt to explore the institutional and clutural milieu of high-tech venture business cluster in Daegu City and provide policy implications for creating sustainable high-tech venture businesses cluster. Although since 1998 the Korean government has made explicitly a great deal of efforts to help attract and create high-tech new start-ups in non-capital cities such as the support of business incubating centers and the establishment of real service centres, it reveals that such policies are not so successful in creating a sustainable venture ecology. One of the most critical resions is that such policies are centred simply on building physical infrastructure such as incubating space and service centre with less concern with promoting venture business cluster reflecting cultural and institutional specificities in a given region. In this respect we argue that the focus of industrial policies to support promoting high-tech venture business clusters in non-capital cities urgently need to move towards to make it for firms to encourage entrepreneurship driving innovation and to create social capital incucing trust and networks amongst firms, universities, public &privite supporting agencies, together with the building up of physical infrastructure the existing policies have done.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.1
• /
• pp.121-137
• /
• 2022

The purpose of this study is to present the necessary success factors and strategies for high-tech social ventures and stakeholders in the related ecosystem by empirically identifying factors that affect their sustainable performance. Based on prior research, the dimensions of three performance factors were presented: core technology competency, core business competency, and social mission orientation. Then, such sub-dimensions such as technology innovation orientation, R&D capability, business model, customer orientation, social network, and social mission pursuit were derived. For empirical analysis, a survey was conducted on domestic high-tech social ventures, and the significance of the hypothesis was tested through PLS-structural equation analysis of the collected 243 valid data. As a result, it was found that the technology innovation orientation was embedded as an abstract organizational and cultural characteristic in the high-tech social venture, which is a research sample, and thus did not significantly affect the dependent variable. In other words, aiming for the latest cutting-edge technology alone cannot affect performance, and it is a result of proving the need for substantial influencing factors that can strengthen it. On the other hand, the business model had a significant effect only on social performance, which is presumed to be the limitation of measurement tools developed for social enterprises, and the results of additional multi-group analysis to determine the cause also supported the basis for this estimation. Excluding the previous two performance factors, R&D competency, customer orientation, social network, and social mission pursuit were all found to have a significant positive (+) effect on social and economic performance. This study laid a foundation for related research by identifying high-tech social ventures emerging in the ecosystem of a social economy and expanded empirical research models related to the performance of existing social enterprises and social ventures. However, in the research method or process, there were limitations such as factor derivation or verification for balance of dual performance, subjective measurement method, and sample representativeness. It is expected that more in-depth follow-up studies will continue by supplementing future limitations and designing improved research models.

• Journal of Distribution Science
• /
• v.13 no.6
• /
• pp.71-78
• /
• 2015

Purpose - This study attempts to analyze whether or not there are characteristics among the top management of companies that promote corporate performance at venture companies. It investigates the characteristics of the human and social capital that are inherent in top management at a venture company and conducts an empirical analysis of hypotheses examining if these characteristics will affect utilization of the governmental R&D support system as well as affect the firm's initial success. Research design, data, and methodology - This study conducted theoretical and empirical research together to accomplish the goal of the study. The pilot study researched human capital and social capital as the independent variables; the governmental R&D support system as the parameter; and, the initial success as the dependent variable. The empirical study carried out research on the model, establishment of hypotheses, and the statistical treatment. A survey was conducted targeting top management of high-tech venture companies in Daedeok Innopolis; 500 questionnaires were distributed; and, 222 were collected. Results - The human and social capital inherent in top management at venture companies in the early stages of their existence become good evaluation data for those who are invested in similar resources. If top management includes strong human and social capital, access to external resources will be easier; these will have a positive influence on the selection of overnmental support systems; and, this proper support will also have a positive influence on the initial success of the venture company. The results revealed the following. First, it was found that when the educational level and functional background, (the top management human capital), are the output function, top management human capital had a significant influence on selection of governmental R&D support funds. Second, it was found that the internal social capital and external social capital, (the top management social capital), had a significant influence on selection of governmental R&D support tasks. Third, it was found that selection of the governmental R&D support tasks at the start of the venture company had a positive influence on the corporate financial performance such as sales, business profits, and the increase in workers; and, had a significant influence on nonfinancial performance such as market share, competitive position, product competitiveness, and the future product development. Conclusions - Selection of the governmental R&D support system is not recognized as part of the direct sales of a venture company in its early stages, but as it can reduce costs for technical development and helps significantly in creating test products and mass production, it has a positive influence on the company's financial performance and nonfinancial performance as a result. Therefore, companies should take great efforts to frequently be selected as a candidate in the governmental R&D support system, as it can help facilitate R&D that requires extensive funds. As a result, companies can expect effects such as job creation and patent applications and they can advance future product sales.

• Journal of Venture Innovation
• /
• v.5 no.1
• /
• pp.107-127
• /
• 2022

Global challenges such as the corona pandemic, climate change and the war-on-tech ensure that the demand who the technologies of the future develops and monitors prominently for will be on the agenda. Development of, and applications in, agrifood, biotech, high-tech, medtech, quantum, AI and photonics are the basis of the future earning capacity of the Netherlands and contribute to solving societal challenges, close to home and worldwide. To be like the Netherlands and Europe a strategic position in the to obtain knowledge and innovation chain, and with it our autonomy in relation to from China and the United States insurance, clear choices are needed. Brainport Eindhoven: Building on Philips' knowledge base, there is create an innovative ecosystem where more than 7,000 companies in the High-tech Systems & Materials (HTSM) collaborate on new technologies, future earning potential and international value chains. Nearly 20,000 private R&D employees work in 5 regional high-end campuses and for companies such as ASML, NXP, DAF, Prodrive Technologies, Lightyear and many others. Brainport Eindhoven has a internationally leading position in the field of system engineering, semicon, micro and nanoelectronics, AI, integrated photonics and additive manufacturing. What is being developed in Brainport leads to the growth of the manufacturing industry far beyond the region thanks to chain cooperation between large companies and SMEs. South-Holland: The South Holland ecosystem includes companies as KPN, Shell, DSM and Janssen Pharmaceutical, large and innovative SMEs and leading educational and knowledge institutions that have more than Invest €3.3 billion in R&D. Bearing Cores are formed by the top campuses of Leiden and Delft, good for more than 40,000 innovative jobs, the port-industrial complex (logistics & energy), the manufacturing industry cluster on maritime and aerospace and the horticultural cluster in the Westland. South Holland trains thematically key technologies such as biotech, quantum technology and AI. Twente: The green, technological top region of Twente has a long tradition of collaboration in triple helix bandage. Technological innovations from Twente offer worldwide solutions for the large social issues. Work is in progress to key technologies such as AI, photonics, robotics and nanotechnology. New technology is applied in sectors such as medtech, the manufacturing industry, agriculture and circular value chains, such as textiles and construction. Being for Twente start-ups and SMEs of great importance to the jobs of tomorrow. Connect these companies technology from Twente with knowledge regions and OEMs, at home and abroad. Wageningen in FoodValley: Wageningen Campus is a global agri-food magnet for startups and corporates by the national accelerator StartLife and student incubator StartHub. FoodvalleyNL also connects with an ambitious 2030 programme, the versatile ecosystem regional, national and international - including through the WEF European food innovation hub. The campus offers guests and the 3,000 private R&D put in an interesting programming science, innovation and social dialogue around the challenges in agro production, food processing, biobased/circular, climate and biodiversity. The Netherlands succeeded in industrializing in logistics countries, but it is striving for sustainable growth by creating an innovative ecosystem through a regional industry-academic research model. In particular, the Brainport Cluster, centered on the high-tech industry, pursues regional innovation and is opening a new horizon for existing industry-academic models. Brainport is a state-of-the-art forward base that leads the innovation ecosystem of Dutch manufacturing. The history of ports in the Netherlands is transforming from a logistics-oriented port symbolized by Rotterdam into a "port of digital knowledge" centered on Brainport. On the basis of this, it can be seen that the industry-academic cluster model linking the central government's vision to create an innovative ecosystem and the specialized industry in the region serves as the biggest stepping stone. The Netherlands' innovation policy is expected to be more faithful to its role as Europe's "digital gateway" through regional development centered on the innovation cluster ecosystem and investment in job creation and new industries.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.2
• /
• pp.195-205
• /
• 2022

This study aims to investigate the relationship between Corporate Venture Capital(CVC) investments and firm innovation, exploring the moderating effect of corporate ESG risk on this relationship. First, adopting the organizational learning theory, I theorize a process in which a firm's relationship with a venture through CVC investments acts as an external innovation source for learning and ultimately short-term innovation. Also, based on the discussion of the stakeholder theory, I argue that when a firm is evaluated as having high ESG risk externally, this may have a negative moderating effect that weakens the relationship between CVC investments and innovative performance. In order to verify these hypotheses, panel data analysis was performed using CVC investments data, patent application data, and ESG risk scores of US high-tech firms from 1993 to 2018. As a result of the analysis, as expected, it was found that the more the firm invests in ventures through CVC, the more the firm's innovative performance increases. In addition, the social aspect of ESG risk of a firm, related to the local community and employees, were found to weaken the association between CVC investments and innovative performance. This study expands the understanding of existing research on CVC investments as a vehicle for learning and innovation. Focusing on the importance of relationship with ventures rather than the size of CVC investments, I empirically examined that the formation of CVC relationships with ventures is directly related to the short-term innovation of investing firms. Additionally, this study contributes to the CVC literature by including stakeholders in the current discussion in addition to investing firms and portfolio ventures. Finally, this study investigated how ESG issues, which are attracting attention as playing an important role in firm activities, are related to CVC investments.

• Journal of Venture Innovation
• /
• v.4 no.2
• /
• pp.57-75
• /
• 2021

KHNP's shared growth activities are based on such public good. Reflecting the characteristics of a comprehensive energy company, a high-tech plant company, and a leading company for shared growth, it presents strategies to link performance indicators with its partners and implements various measures. Key tasks include maintaining the nuclear power plant ecosystem, improving management conditions for partner companies, strengthening future capabilities of the nuclear power plant industry, and supporting a virtuous cycle of regional development. This is made by reflecting the specificity of nuclear power generation as much as possible, and is designed to reflect the spirit of shared growth through win-win and cooperation in order to solve the challenges of the times while considering the characteristics as much as possible as possible. KHNP's shared growth activities can be said to be the practice of the spirit of the times(Zeitgeist). The spirit of the times given to us now is that companies should strive for sustainable growth as social air. KHNP has been striving to establish a creative and leading shared growth ecosystem. In particular, considering the positions of partners, it has been promoting continuous system improvement to establish a fair trade culture and deregulation. In addition, it has continuously discovered and implemented new customized support projects that are effective for partner companies and local communities. To this end, efforts have been made for shared growth through organic collaboration with partners and stakeholders. As detailed tasks, it also presents fostering new markets and new industries, maintaining supply chains, and emergency support for COVID-19 to maintain the nuclear power plant ecosystem. This reflects the social public good after the recent COVID-19 incident. In order to improve the management conditions of partner companies, productivity improvement, human resources enhancement, and customized funding are being implemented as detailed tasks. This is a plan to practice win-win growth with partner companies emphasized by corporate social responsibility (CSR) and ISO 26000 while being faithful to the main job. Until now, ESG management has focused on the environmental field to cope with the catastrophe of climate change. According to KHNP is presenting a public enterprise-type model in the environmental field. In order to strengthen the future capabilities of the nuclear power plant industry as a state-of-the-art energy company, it has set tasks to attract investment from partner companies, localization and new technologies R&D, and commercialization of innovative technologies. This is an effort to develop advanced nuclear power plant technology as a concrete practical measure of eco-friendly development. Meanwhile, the EU is preparing a social taxonomy to focus on the social sector, another important axis in ESG management, following the Green Taxonomy, a classification system in the environmental sector. KHNP includes enhancing local vitality, increasing income for the underprivileged, and overcoming the COVID-19 crisis as part of its shared growth activities, which is a representative social taxonomy field. The draft social taxonomy being promoted by the EU was announced in July, and the contents promoted by KHNP are consistent with this, leading the practice of social taxonomy

• Journal of Global Scholars of Marketing Science
• /
• v.8
• /
• pp.515-535
• /
• 2001

This paper begins with investigation of the race to unlock human DNA, and investigates the emergent areas of bio-technological innovations. This paper draws upon basic ideas from the research traditions of the diffusion of innovations in the competitive situations. To achieve the succesful diffusion of bio-technological innovations, following issues are suggested; clusters, alliances competence, core competence, consumer resistance, chasm phenomena, qualitative research, social network, and cross-culture. The better understanding of the diffusion of bio-tech innovations with empirical studies can complement research on the diffusion of bio-technological innovations and help in the development of a universal model for diffusion of high technological innovations.