• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.31-46
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• 2019

As the importance of venture firms has increased as a new growth engine, the South Korea government makes various efforts to establish healthy ecosystems for ventures and start-ups. Especially in order to foster the competitiveness of venture firms, various support policies such as financial and R&D expenses are being expanded and promoted. In this study, the author analyzed the impact of government funding on venture firms' internal competencies and management performance by using the resource-based theory. Moreover, this study tested the moderation effect of firm's growth stages. Unlike previous studies, this study focused on qualitative rather than quantitative aspects of internal competencies and the financial and non-financial performance are used to measure the management performance of the ventures to examine the effects of government funding for venture firms in more details. For the purpose of verifying the hypothesis of this research, "The Research On The Precision Status Of Venture Firms" in 2017 from the Ministry of Small and Medium Business was utilized, which has been compiled since 1999. According to the results of this study, the government funding experience did not significantly affect the company's internal competencies and financial performance, but had a significant impact on the non-financial performance, which in turn seemed to have a significant effect on the financial performance. In addition, it was found that the technology, price, design, and quality competencies affected non-financial performance, while the organizational management and marketing competencies did not. However, the price, design, organizational management, and marketing competencies affected financial performance, while the technology competency was not. Finally, there were no differences in the effectiveness of government funding, depending on the growth stages.

• Korean small business review
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• v.42 no.2
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• pp.117-137
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• 2020

We examine the current status of smart factory deployment and diffusion programs in Korea, and seek to promote manufacturing innovation from the perspective of SMEs. The main conclusions of this paper are as follows. First, without additional market creation and supply chain improvement, smart factories are unlikely to raise profitability leading to overinvestment. Second, new business models need to connect "manufacturing process efficiency" with "R&D" and "marketing" in value chain in smart factories. Third, when introducing smart factories, we need to focus on the areas where process-embedded technology is directly linked to corporate competitiveness. Based on the modularity-maturity matrix (Pisano and Shih, 2012) and the examples of U.S. Manufacturing Innovation Institute (MII), we establish the new smart factory deployment policy measures as follows. First, we shift our smart factory strategy from quantitative expansion to qualitative upgrading. Second, we promote by each sector the formation of industrial commons that help SMEs to jointly develop R&D, exchange standardized data and practices, and facilitate supplier-led procurement system. Third, to implement new technology and business models, we encourage partnerships, collaborations, and M&As between conventional SMEs and start-ups and business ventures. Fourth, the whole deployment process of smart factories is indexed in detail to identify the problems and provide appropriate solutions.

• Journal of the Korean association of regional geographers
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• v.7 no.2
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• pp.35-54
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• 2001

The construction of Daedeok Science Town, located in Yuseong ward of Daejeon metropolitan city, began in the early 1970s. It started out as a national project to form an agglomeration of the major central government research institutions. Since that time Daedeok Science Town has also attracted private research institutions, mainly during the 1900s. This study geographically analyzes this research institutions to clarify the regional identity of Daedeok Science Town through an integrated approach of existing new regional geography approach, which is characteristics of labour market as the regional pattern of its laborers' residences, spatial labour division, its research network with other institutions, and networks of university, research institution, and corporations, through the spatial spread of intellectual right of property and through network of technology business incubator relationship with spin offs which is appeared to spatial interaction. The results of the study are as follows: First of all, Daedeok Science Town was not only self-sustenance with marketing garden of agricultural regions in the suburb of Daejeon city but also was consign of agricultural products to Daejeon city before 1972. Since that time, the identity of Daedeok Science town has been formed by externally factors of the science development, by the local decentralization of population and public offices in Seoul metropolitan area in terms of the world economy system, and by the internally accessibility maximization of the central location in Korea between 1992 and 1999. On the part of Daedeok Science Town it has some merits of in-migration from nation-wide, and of mother city's Daejeon. Lastly at the period of the venture business beginning after 1999, the role of institution, developing the existing high technology, made great contribution to an attraction of ventures business to here in need of high technology industry growth, including knowledge-based industry in the informated society. On these bases, Daedeok Science Town seems to grow spontaneously as a science park.

• Journal of Venture Innovation
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• v.6 no.1
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• pp.115-137
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• 2023

This study analyzed the relationship between organizational innovative capability and absorptive capacity, market and technology orientations, and their impact on business performance for IT-BPO companies that are required to absorb new technologies from a leading perspective in the digital transformation era. To achieve this, an online specialized research company and offline surveys were conducted on 291 domestic IT-BPO companies, and SPSS 23 was used for descriptive statistics and reliability analysis while AMOS 23 was used for hypothesis testing including validity and mediating effects. The main findings were as follows: First, in the relationship between innovation and absorptive capabilities and Market Orientation Strategic(MOS), learning capability and knowledge network capability were found to have a statistically significant positive (+) effect on MOS. In the relationship between innovation and absorptive capabilities and Technology Orientation Strategic(TOS), R&D capability, potential absorptive capacity, and realized absorptive capacity had a statistically significant positive (+) effect on TOS. Second, in the relationship between innovation and absorptive capabilities and BP, only R&D capability was found to have a significant effect on BP. Third, both market orientation and technology orientation were found to have a significant positive (+) effect on BP. These findings suggest that effective competency factors can be identified according to the market and technology orientations pursued by IT-BPO companies to increase their growth and value creation, and provide implications for developing differentiated competency enhancement strategies based on strategic objectives.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.5
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• pp.31-47
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• 2021

The purpose of this study is to demonstrate the moderating effect of technology development activities in the relationship between independent variables such as entrepreneurial orientation and technology innovation capabilities and dependent variables. As a result of analyzing the causal relationship between research variables, it was found that the higher the innovation and initiative among the sub-factors of entrepreneurial orientation, the more positive the technical commercialization performance and product completion. Among the sub-factors of entrepreneurial orientation, risk-taking was found to have a significant effect only on product completion. It was found that the higher the technology commercialization capability and technology convergence capability, the higher the technology commercialization performance, the technology commercialization performance. As a result of analyzing the moderating effect of technology development activities, it was found that technology development management ability, a sub-factor of technology development activities, controls the influence relationship between innovation and risk sensitivity and technology performance. In addition, it was found that the involvement in technology development planning controls the influence relationship between technology convergence capability and technology performance among sub-factors of technology innovation capability. Based on the above analysis results, this study made three suggestions as follows. First, the achievements of technology commercialization to achieve the superiority of corporate competition depend on progressive innovation and risk-taking based on entrepreneurial orientation. It is necessary to find a way to build entrepreneurial orientation from within the organization. Second, due to the nature of the ICT industry, which has a fast pace of technological development and changes in market acceptance, technology commercialization performance will be positive when the capabilities, technology, knowledge, and resources that can quickly lead to product production can be organically linked. Finally, corporate CEOs need to further promote innovation and risk-taking through phased and continuous research activities for technology development. In addition, it is necessary to establish a corporate culture that tolerates various strategies and failures so that understanding of technology convergence can lead to technological performance.

• Journal of Korea Technology Innovation Society
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• v.22 no.3
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• pp.382-415
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• 2019

This study analyzes the impact of exclusive subcontracting on the input, behavior, and output of innovation in manufacturing industries of Korea. Based on the analysis of pooled cross-sectional data of 6,029 small venture firms, this study proved that the exclusive subcontracting between small venture firms and large enterprises are lowering R&D investment of small venture firms. Second, the innovation activities of small venture firms including the ratio of R&D personnel and the scope of cooperation and partnership with external organizations were lower than those of small venture firms that have non-exclusive or no relations with large enterprises. Third, the innovation performance of small venture firms such as the number of patent applications, the ratio of sales by new products, and the cumulative sales growth rate was lower than those of small venture firms that have non-exclusive or no relations with large enterprises. This study verifies that the exclusive subcontracting relationships significantly weaken the innovation process and performance of small venture firms systematically, resulting in a kind of market failure in which small venture firms have almost no incentive to facilitate innovation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.1
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• pp.109-132
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• 2011

While the resource-based view suggests that a firm's competitive advantage rests on a set of valuable, rare and inimitable resources more generally (Barney, 1991), research in new firms has more specially indicated a link between initial resources and early performance and survival (Bruderl and Schussler, 1990; Fichman and Levinthal, 1991; Carroll et al., 1996). The RBV primarily focuses on the particular resources, and their characteristics, that provide the potential for advantage (Conner, 1991). Yet in order to realize this advantage, organizations must not only develop their resources, but also effectively deploy them (Admit and Shoemaker, 1993). This suggests that advantage from resources may reside in both the input (resource development) side and the output (resource deployment) side. This research looks at venture survival as a function of both the resources a firm owns, and the resources it can access from others. We focus more specifically on technology resources, which are among a technology-based firm's most critical resources (Itami, 1987). In addition, technological knowledge can contribute a large portion of the value of a firm's products (Goodman and Lawless, 1994). We look at both the input and output side: the pool of technology resources that serve as an input to a firm's activities, and the market that values and purchases the output of this activity. We take an international perspective, examining whether resources explain internationalization on the input and output side, and in turn, whether this internationalization can explain survival. We explore three sets of questions. First, can survival in entrepreneurial firms be explained as a function of the resources a firm owns, and beyond that, to those the firm can access, and still further, to those the firm can access internationally? Second, do resources explain internationalization on both the input and output side? And finally, does internationalization explain survival? Implications for theory include extending the RBV to not only include a firm's resources, but its access to the resources of other entities. In addition, examining internationalization on both the input and output side enables us to understand not just the potential advantage of resources, but the manner in which they are deployed as a source of advantage. This research also contributes to the literature on international entrepreneurship by examining whether internationalization can explain survival for early stage firms. For practitioners, this research will provide insights on the importance of building alliances and, in so doing, broadening an organization's perspective about the technology resources available to the firm on the input side. The study will also inform practitioners about the value of maximizing the market for a firm's valuable resources. In addition, this research provides an extraordinary opportunity to access a large, comprehensive, and longitudinal dataset on technology-based ventures in Korea.