• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.133-144
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• 2017

For a social venture in early stage, it is very difficult to set up a strategy as it has to pursue two contradictory goals; economic value and social value. The platform strategy can be good alternative solution for social ventures as it seeks building-up connections with other businesses to co-create value despite of limited resources. A Korean social venture, JUMP! which adopted platform strategy in the early stage, and successfully applied 4 key factors of platform strategy; core competency, value creation ability, efficiency and network effect, has been able to develop sustainable growth for itself and induce innovation and growth among the participants within the platform. This study was intended to research effect of adoption and successful application of platform strategy for social ventures in the early stage of start-up and draw conclusion through case study that platform strategy works for sustainable growth of social ventures.

• Journal of Information Technology Services
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• v.13 no.4
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• pp.123-137
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• 2014

Since the global financial crisis, funding for startups or ventures has been diminished seriously. In this situation, crowd-funding has attracted worldwide attention as a viable means to financing startups/ventures. After reviewing existing laws in other countries, this study investigated the current status of crowd-funding legalization in Korea and surveyed requirements from three groups of participants to crowd-funding. Investors already recognized the high risk of crowd-funding into startups and asked for the protection of their investment. But, their priorities were on the enlargement of tax benefits and the establishment of a trading market for selling their equity. In addition, investors wanted to shorten the compulsory holding period. Issuers as fund raisers hoped fast legalization, convenient process of crowd-funding, and expansion of government support. Crowd-funding platform operators requested policies for establishing paths to become new growth companies from startups, tax benefits, and the setup of separate fund for startups. Currently, the National Assembly in Korea is holding the discussion on the submitted law. For desirable outcomes to all participants, it would be better to proceed in the following sequence. First, legalize the crowd-funding with clauses protecting investors; Second, encourage investment through tax benefits; Third, develop communities among participants for reducing information asymmetry; And fourth, establish diverse trading markets for selling equities of startups.

• Journal of Information Technology Services
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• v.15 no.1
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• pp.1-18
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• 2016

Recently, in the bio-field success stories of ventures through a biosimilar technology is being excavated. but the growth of ICT industry has been stagnant since reaching a boom in the dissemination of early high-speed internet in 2000s. The purpose of this study is to explore the factors of change of business model and business strategy of ICT ventures and SMEs with the evolution of the digital ecosystem, and to drive the factors to be competitive on the global value chain. The researcher selected an entreprenuership, market-innovation orientation, technology-innovation orientation, and Administration-innovation orientation as internal factors influencing the global competence and healthiness of the ecosystem as external factors. The researcher applied samples of 94 ICT Venture and SMEs to a research model, and adopted 5 hypotheses. The researcher believes that only a few hypotheses were adopted because it takes time for overall innovation orientation of ICT Venture and SMEs to result in the real global competence as the their innovation orientation is still on the level of domestic market. And the researcher also thinks that only healthiness of the ecosystem affected management performances because the companies' performances of the last 3 years were so weak that the correlation between innovation orientation of each company and the performances were not big enough.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.99-116
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• 2018

The purpose of this study is to suggest the integrated entrepreneurial competency models that reflect critical entrepreneurial competencies that entrepreneurs should have at different stages, thereby enhancing the success rate of ventures. To accomplish the purpose, this study developed the hypotheses about the positive effects of entrepreneurial competencies on business performance, and the moderating effect of learning competency to strengthen the relationship between entrepreneurial competencies and business performance. The results of this study are as follows. First, the technological functional competency of entrepreneurial teams, the resource utilization and business planning competency of entrepreneurs in the early stage of business development were found to significantly affect both non-financial and technological performance. The opportunity recognition competency has a significantly positive effect on non-financial performance. In addition, it is analyzed that learning competency significantly moderated the relationship between entrepreneurial competencies(technological functional, resource utilization) and non-financial performance. The moderating effect of learning competency between business planning competency and technological performance was also found to be significant. Second, leadership and resource acquisition competency of entrepreneurs in the late stage of ventures have significantly positive effects on both non-financial and technological performance. The strategic competency has a significantly positive effect on non-financial performance. It was also found that the moderating effect of learning competency between strategic competency and non-financial performance was significant. Finally, the results show that both non-financial and technical performance of NTBVs are significant determinants of financial performance.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.25-34
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• 2022

Established and new companies face similar business challenges in achieving performance and competitiveness. Furthermore, several empirical studies using competitive advantage resource-based view theory show that established companies achieve performance and competitiveness with breakthrough innovations. Similarly, new business ventures with limited resources must incorporate breakthrough innovations to achieve performance and competitiveness. Therefore, this study aimed to examine the impact of ambidextrous innovation on new venture performance and competitiveness. It used an online survey to collect data from 178 newly established shipping agency companies in 22 provinces in Indonesia. Data was analyzed using multivariate analysis with WarpPLS 7.0, where the analysis unit was an organization represented by a director. The results showed that ambidextrous innovation positively and significantly affects firm performance and new venture competitiveness. This means that ambidextrous innovation that emphasizes adaptation and development improves the firm's internal business processes, even with limited resources. Moreover, it increases new ventures' competitiveness in responding to threats and taking advantage of market opportunities. These results contribute to the competitive advantage resource-based view theory, specifically for new venture empirical examination. Also, they contribute to practical implications in the transportation business, demonstrating that exploitative breakthrough innovation can improve new venture competitiveness and performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.249-267
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• 2021

The use of big data accumulated along with the progress of digitalization is bringing disruptive innovation to the global agricultural industry. Recently, the government is establishing an agricultural big data platform and a support organization. However, in the domestic agricultural industry, the use of big data is insufficient except for some companies in the field of cultivation and growth. In this context, this study identifies factors affecting the intention to use big data in terms of technology, organization and environment, and also confirm the moderating effect of technical field, focusing on agricultural ventures which should be the main entities in creating innovation by using big data. Research data was obtained from 309 agricultural ventures supported by the A+ Center of FACT(Foundation of AgTech Commercialization and Transfer), and was analyzed using IBM SPSS 22.0. As a result, Among technical factors, relative advantage and compatibility were found to have a significant positive (+) effect. Among organizational factors, it was found that management support had a positive (+) effect and cost had a negative (-) effect. Among environmental factors, policy support were found to have a positive (+) effect. As a result of the verification of the moderating effect of technology field, it was found that firms other than cultivation had a moderating effect that alleviated the relationship between all variables other than relative advantage, compatibility, and competitor pressure and the intention to use big data. These results suggest the following implications. First, it is necessary to select a core business that will provide opportunities to generate new profits and improve operational efficiency to agricultural ventures through the use of big data, and to increase collaboration opportunities through policy. Second, it is necessary to provide a big data analysis solution that can overcome the difficulties of analysis due to the characteristics of the agricultural industry. Third, in small organizations such as agricultural ventures, the will of the top management to reorganize the organizational culture should be preceded by a high level of understanding on the use of big data. Fourth, it is important to discover and promote successful cases that can be benchmarked at the level of SMEs and venture companies. Fifth, it will be more effective to divide the priorities of core business and support business by agricultural venture technology sector. Finally, the limitations of this study and follow-up research tasks are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.187-198
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• 2019

The purpose of this study is to seek ways of utilizing TLBMC by understanding business model of social ventures that are accompanied by social and environmental as well as economic missions. In order to achieve this, business models from economic, environmental and social perspectives will be analyzed, and we seek to enhance sustainability of social venture entrepreneurs. As the analysis tool, TLBMC(Triple Layered Business Model Canvas) expands upon the business model canvas that is widely utilized and recognizes economical terms. The TLBMC is proposed by Joyce, A., & Paquin, R. L.(2016) to help achieve a holistic view with horizontal and vertical associations. The study tries to overcome limitations of previous studies and observe a variety of economic, environmental, and social perspectives that social ventures should have with the TLBMC. As a result, it has the following implications; Firstly, creating separate social, environmental and economic business model canvas helps a business to have a holistic approach. Secondly, it was found that social venture characteristics of environmental and social perspectives were applied in practice. Lastly, we have established experience data on social venture business model. This study focuses on the opinions, the meanings and the subjective views of the participants. As a result, conclusions are drawn by the researchers ' assertions and has limitations as a research on case studies. However, this study will help people who are preparing or studying social ventures to have economic, environmental, and social perspectives. Also, redefinition of the direction and value of entrepreneurs operating social ventures, such as vision and mission, will help clarify the roles and responsibility of organizations. As a fundamental step for future empirical studies, this study could be the base for social venture business model studies.

• Journal of Digital Convergence
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• v.11 no.5
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• pp.73-81
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• 2013

The paradigm of IT ecosystem has been rapidly changing into open ecosystem irrespective of the territory on which the device, software and contents are located. IT venture ecosystem which can compete and collaborate with the global companies is really needed because the global opportunity of IT venture company has been expanding. Research model based on PEST-SWOT-AHP(Analytic Hierarchy Process) model was employed to analyze the current status and problems of IT venture ecosystem in Korea. Survey was conducted with 20 experts who are involved in venture companies, university, R&D research institute, and investment companies as a working group supported by the Ministry of Knowledge Economy (MKE). The empirical result showed that global promotion of IT ventures, coexistence and development of large enterprises and ventures, revitalization of investment infrastructure, and building of smart venture ecosystem are derived to revitalize IT venture ecosystem and suggested global revitalization model for smart IT venture ecosystem.

• Journal of Digital Convergence
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• v.12 no.6
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• pp.13-22
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• 2014

This study analyzed the globalization policy of ICT SMEs and ventures using cognitive map analysis and derived the priority to importance about action plans using AHP model, while the globalization paradigm has been rapidly changing in the ICT industry. Empirical results showed that policy tool variables should be needed to develop because policy goal variables are generally presented more than policy tool variables. In addition, this cognitive map could be characterized by a scarcity of feedback loops which means policy landscape for ICT SMEs and ventures' globalization is unilateral rather than cyclical to reach policy goal from policy tools. Another finding is that creative economy policy variable was not observed as policy tool variable but as policy goal variable. This means creative economy can be implemented through support for ICT SMEs and ventures' globalization. Finally, for detailed policy measures, installation of global start-up center, recruiting and utilization of global specialists, revitalization of ICT R&D international collaboration study, enlargement of global investment network, accompanied overseas advance of large enterprises and SMEs are presented in order in terms of the importance of policy priority.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.23-33
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• 2014

This paper aims at delivering significant implications to high-tech startups by visualizing the implementation process of leading KOSDAQ listed companies's business model. This paper founded two meaningful outcomes; first, hish-tech starts-up make a clear direction of implementing intangible business model in real business, second, targeting the role model of benchmarking business model among leading companies, by linking common feature between high-tech starts-up and leading KOSDAQ listed venutures sharing one of Key performance indexes falls on viable business model. The research results of visualizing the implementation of leading KOSDAQ listed ventures' business model shows three major implications. First, business model indicates not just simple logic of creating and delivering values, but more shows CEO leading management vehicle. Second, business model represents the multi-dimension process itself of integrating in and out company's core assets and competencies initiated by CEO. Third, financial outcomes of business model is automatic result of implementing on setting target customer, creating value, and delivering it rather than planned strategically. Fourth, the focal points of implementing business model falls on collecting real information from business sites.