• Asian Journal of Innovation and Policy
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• v.3 no.2
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• pp.216-244
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• 2014

This paper empirically establishes the role played by the ecosystem related parameters in the emergence and growth of high technology start-up clusters in India. It is mainly based on secondary data from six major start-up hubs in India during the period 2005-2013. Our results throw up several interesting findings. First of all, we find that traditional infrastructure related factors or robust macroeconomic situation in general are not the most important drivers. What really seem to matter are the specific start-up ecosystem related factors - such as the Internet penetration, volume of deal flow, availability of VC funding and a pre-existing critical mass of relevant high technology businesses and skill-sets. Above all, our study points out that high economic growth alone will not automatically lead to spillovers in the form of a vibrant start-up ecosystem. Rather it has to be a product of conscious and concerted policy efforts at all levels that directly address the main challenges faced by the early-stage start-ups.

• Knowledge Management Research
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• v.21 no.2
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• pp.41-58
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• 2020

A plan to promote public technology-based start-ups as a way to enhance the use of public technology has been emphasized. However, the problem of creating commercial value has persisted due to the lack of reproducibility and readiness of public technology. Although gap exists in the linking process between the public and private sector, it is difficult to find objective empirical evidence as most of them are only qualitative research. Our empirical works examine the impact of subsequent support of the public research institute on the commercialization of public technologies. Then, we analyze how commercialization of public technologies affects the growth of technology-based startups using 2-stage least square (2SLS) model. We find that the linkage with the technology subject contribute to the successful commercialization of public technology, and further to the survival and growth of technology-based start-ups. Our finding suggests that knowledge management system, to facilitate interaction between technology developer and consumers, is needed for the success of public technology-based start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.35-46
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• 2017

The purpose of this study is to identify the characteristics of entrepreneurs and organizations related to the initial investment stage of IT-based entrepreneurs. Specifically, we examine the effects of founder-related characteristics such as background and experience of founders on the initial investment stage and explore how the organizational characteristics such as finance, human, and technology resources affect initial investment of start-up enterprise. To accomplish this study purpose, a questionnaire survey was conducted on entrepreneurs who were actually invested by government, angel, and VC. A total of 295 data were used for hypothesis testing, and the hypothesis was tested by hierarchical regression analysis. As a result of the study, it was found that founders who had experience of investment before or experienced in technology development had a significant influence on initial investment stage. In addition, it was confirmed that factors such as financial, human, and technology resources had significant positive effects on the initial investment stage. The results of this study make it possible to identify the competencies and characteristics required to attract investment to potential founders preparing for start-up in the future. It also provides information on how to formulate an effective human resource composition plan. Also, these results can be used as a basis for investment decision-making by providing investors with guidelines on investment selection criteria.

• International Journal of Internet, Broadcasting and Communication
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• v.14 no.3
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• pp.222-229
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• 2022

Through this technology development, companies that operate online shopping malls and prospective startups will support education, consulting and expert group matching so that they can solve various issues that may arise in the course of the entire business life cycle, from startups to closures. It is expected that differentiated consulting programs will be designed for companies that currently operate shopping malls and start ups, and customized consulting programs will be provided to improve the effectiveness of consulting while improving customer satisfaction. It is planning to develop a "successful start-up and operation helper" that helps successful start-ups. It is a system that primarily diagnoses problems of prospective entrepreneurs and operators through an automation system at the start-up and operation stage, and professional consultants participate to derive and solve problems, and takes care of all stages of shopping mall birth and growth. In this paper Metaverse based shopping mall Creation is also discussed. Through Big Data creation these accumulated data, we intend to help operators start and operate shopping malls through accurate information by managing all knowledge of shopping malls as a system in the long run.

• Journal of Distribution Science
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• v.11 no.10
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• pp.37-45
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• 2013

Purpose - Appropriate response to the fast changing economic environment determines SMEs' competiveness in the era of globalization and open market and, therefore, government policies to strengthen SME's competitiveness will be very important in the future. It is time to investigate the element of strategic orientation that is necessary for strengthening the competitiveness of SMEs, and its effect on the success of a business start-up. This study analyzes the network orientation in addition to existing strategic orientation, and focuses on price and quality management capability as mediators for strategic orientation and outcomes of business start-ups. Research design/data/methodology - The orientations of technology-based business founders were classified into market, technology, network, and entrepreneurial orientation. We then investigated the effect of these orientations on product price and quality management capability, as well as the influence of price and quality management capability on the outcome of a business start-up. This study is based on the nation-wide survey of the founders and members of technology-based business establishments. The survey was administered to 300 selected companies via email for a period of one month, at the end of which 175 companies replied with valid answers. Further, for effective and objective research, we used SPSS 14.0 and Amos 7.0 for structural equation modeling assumptions and hypothesis verification. Results - Except for entrepreneurial orientation, the other three orientations, namely, technology, market, and network orientations, affect the price management capability according to our results. The price management capability relates significantly with the sales and customer satisfaction. Especially, technology orientation is the core competency of start-ups that affects price and quality management capabilities. However, technology and entrepreneurial orientation do not influence the outcome of business start-ups, but affect their quality management capabilities. Conclusions - This study confirms that the strategic orientation affects product price as well as quality management capabilities, to introduce new products and achieve successful outcomes. In conclusion, new business founders face the dilemma of trade-off between price and quality in the planning stage of new product development. In particular, price management capability directly affects the outcome. Therefore, price management is more important for a successful start-up than quality management. Especially, during the initial stages of starting up a new business, price management capability entails following the market-leading company, or price penetration strategy. In this stage, price management is dependent on the information from outside rather than on the founder's decision, and it directly affects sales performance and customer satisfaction. In contrast, quality management capability is directly related to the technology capability and market experience of founders. In this case, subjective and proactive decision making is required for differentiation and development of demand in the niche market, which does not directly influence the sales performance and customer satisfaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.85-105
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• 2021

In this study, a case study was conducted on Advanced Nano Products Co.,Ltd, a company that was established in 2000 and has the core technology to produce and commercialize nano materials and ultrafine nano powders based on nano technology. Deviating from the general case study, a case study analysis frame was set based on the theory of technology management and industry-university cooperation theory, and cases were analyzed. In this case study, Advanced Nano Products Co.,Ltd. was analyzed from two analytical perspectives: the establishment of a Management Of Technology system within the company and the Industry-Academic Cooperation activity. Based on this theoretical-based analysis framework, company visit interviews and related data research and analysis were conducted. As a result of the study of the case company, it was possible to derive how the technology management and industry-university cooperation affect the growth stage of the company as follows. First, the strategic use of technology management is an important factor in strengthening the competitive advantage and core competencies of venture companies, and for survival and growth of startups in the early stages. Second, strategic use of technology management and patents and establishment of a patent management system are a part of business strategy and play a pivotal role in corporate performance. Third, the human and material infrastructure of universities affects the growth of companies in the early stage of start-up, and the high utilization of industry-university cooperation promotes the growth of companies. Fourth, continuous industry-academic cooperation activities in the growth and maturity stages of a company's growth stage are the basis for activating external exchanges and building networks. Lastly, technology management and industry-university cooperation were found to be growth factors for each growth stage of a company. In order for a company to develop continuously from the start-up to the growth and maturity stages, it is necessary to establish a technology management system from the beginning and promote strategic technology management activities. In addition, it can be said that it is important to carry out various industry-academic cooperation activities outside the company. As a result of the case analysis, it was found that Advanced Nano Products Co.,Ltd, which performed these two major activities well, overcame the crisis step by step and continued to grow until now. This study shows how the use of technology management and industry-academic cooperation creates value in each growth stage of technology-based venture companies. In addition, its active use will play a big role in the growth of other venture companies. The results of this case study can be a valid reference for growth research of technology start-up venture companies and related field application and utilization.

• The Journal of the Korea Contents Association
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• v.21 no.9
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• pp.570-579
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• 2021

Compared to men, women experience difficulties in fund-raising, which can be a fundamental impediment to the success of women entrepreneurs. In this study, we examine whether is a difference between genders in the initial funding performance of start-up companies and confirm whether there are differences in organizational factors and entrepreneur factors that affect the initial funding performance. Data were collected through a survey of technology-based start-up companies located in the metropolitan area, and 287 companies were used for hypothesis analysis. The results reveal that there was a significant difference between genders in the investment attraction performance of early-stage entrepreneurs. In addition, as a result of the split-group regression analysis, it was found that in the case of men, firm age, early firm size, starting capital, engineering major had a significant effect on men. However, in the case of the women's group, it was confirmed that all the variables related to the organizational factors and entrepreneur factors were not significant. This study indirectly suggests that prejudices such as gender role stereotypes actually affect economic activities related to investment attraction activities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.67-80
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• 2022

This study was conducted to derive policy measures such as fostering and supporting by examining the actual conditions of domestic startups. The subject of this study was the start-ups located in Seongnam-si, where Pangyo Techno Valley, which is the highest-level innovation cluster in Korea and is evaluated as a start-up mecca. Startups were defined as startups under 7 years old based on new technologies such as IT, BT, and CT, and the subjects of the study were selected. This can be seen as a step forward from previous research in that it embodies the concept of a startup that was previously abstract in a quantitatively measurable way. As a result of the analysis, about 94% of startups are distributed in the so-called "Death Valley" growth stage, and startups above scale-up, which means full-scale growth beyond BEP, account for about 6%. appeared to be occupied. He cited the problem of start-up funds as the biggest difficulty in the early stages of startups, and cited the loan evaluation method that prioritizes sales or collateral in raising funds as the biggest problem. In addition, start-ups rated the access to private investment capital such as VC, AC, and angel investors at a low level compared to policy funds, which are public funds. Most startups showed a lot of interest in overseas expansion, and they chose matching overseas investors such as overseas VCs as the biggest support for overseas expansion. The overall competitiveness in the overseas market was 49.6 points, which is less than 50 points out of 100, indicating that the overall competitiveness was somewhat inferior. It was analyzed that public support and investment in overseas sales channels (sales channels, distribution networks, etc.) should be prioritized along with enhancement of technological competitiveness in order for domestic startups to increase their competitiveness in overseas markets as well as in the domestic market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.1
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• pp.29-36
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• 2013

So many researchers have been interested in key success factors of technological start-ups. However, previous studies have not focussed on Concreteness of technological capabilities at the growth stages and industry in technological start-ups. The purpose of this study is to investigate the Concreteness of technological capabilities that have influence on performance of technological start-ups. Empirical data was collected from 342 firms in BI in Korea. It used the questionnaire method for the CEO, It is executed the Regression analysis to test hypotheses of influencing effects. Results of the hypothesis testing are summarized as follows: First, It was found that technological capabilities had statistically significant influence on firm performance. But the property based resources had lower significant influence. Second, This research found that the knowledge based resources had higher significant influence on technological start-ups performance at IT industry. Third, The knowledge based resources had higher significant influence on performance at growth stages. In conclusion, technological capabilities were verified as important firm resources of technology-based start-ups for firm performance. But the Concreteness of technological capabilities was significant differences by growth-stage of firms.

• Korean small business review
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• v.42 no.4
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• pp.309-326
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• 2020

There often is information asymmetry between start-ups and the investors, which is because start-up companies in the early stages do not have track records. Meanwhile, since the government grants programs go through a fair and the intense competition process, the government grants can provide a more objective information for start-ups in the early stages and perform a signal function that guarantees a company's capabilities and potential. This study confirms the quantitative relationship between government grants and investment attraction by using the hurdler model. We found that, although there is the proportionate relationship between the scale of government grants and that of external funds, more than a certain amount of government grants is required for technology-based start-ups to exceed the stage of attracting their first external funds. Our findings suggest that it is necessary to consider the hurdles structure in the study of signaling theory perspective, as the mechanisms for determining whether or not to attract external funds are different from determining the level of external funds. In addition, differentiated policy support is needed to help early-stage technology start-ups go beyond the threshold of investment attraction-the creation of a 'threshold effect'.