• Journal of Digital Convergence
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• v.14 no.7
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• pp.11-20
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• 2016

This study examines the possibility of implementing the technology financing for export-import based small and medium sized enterprises. Our sample consists of 2,753 small and medium sized enterprises, receiving financial support from the Export-Import Bank of Korea for the period of 2011-2013. We find that only 400(200) firms reserve IPs(patents) annually. Given that IPs are likely to concentrate on manufacturer industries such as electronic components, computers, video, sound and communication equipment manufacturing(KSIC 26), other machinery and equipment manufacturing(KSIC 29), manufacture of motor vehicles and trailers(KSIC 31). We also find that the total assets, sales and R&D expenses of IP holding companies greatly exceeds those of companies without IPs. In addition, IP holding companies' liquidity seems slight edge and the leverage ratio is somewhat lower. However, profitability ratios of IP holding companies are rather than harsh or similar level. 20~30% of IP holding firms show very week credit scores, implying that banks' default risk is expected to be significant.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.292-312
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• 2017

The purposes of this research are to verify: first, if the technology appraisal model reflects the company's management performance and the rates of bankruptcy and overdue; second, if the existing classification system of technology levels is suitable; and third, which is the most important appraisal factor that defines the classification system of technology levels. As a result of the analysis, financial performance (stability) and non-financial performance (technology environment) proved to be significant variables in explaining technology ratings. According to the verification of the suitability of classification system, it appeared that there is a significant difference in all appraisal items of all groups. The result of neural networks model verification indicates that the most important variable was the R&D capacity, the second variables which determine the suitability of technology financing were indicators related to the company management. The second variables which determine a company's technological excellence were a company's technological base. To summarize, the technology appraisal model not only reflects both managerial performance and risks of a company, but also anticipates the future by converging the management competence and technological competitiveness into R&D capacity. This implies that if the 'forward-looking' technology appraisal model is integrated into the existing, credit rating model, the appraisal model may have positive impact on improving anticipation and stability.

• Journal of the Korea Convergence Society
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• v.8 no.1
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• pp.213-220
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• 2017

This Study conducts a survey of ICT SMEs participating in 'ICT Government Sponsored Loan Project' for researching general demands on Government sponsored loans and studies successful company case by inspecting background of R&D, performances, impacts, prospects, episodes, etc. Actually, survey results show that ICT SMEs demand more of Government sponsored loans and that stable financing is a core factor and the most difficult task for successful R&D. In conclusion, these results implicate that Government has to create new policies for competitive ICT SMEs to recover financial stability through developing and commercializing technologies.

• Journal of the Korean Society of Systems Engineering
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• v.20 no.spc1
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• pp.45-55
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• 2024

Amidst the challenges of the global economy, this paper examines the investment tendencies of professional angel investors, who provide venture capital and management consulting, and explores strategies to revitalize angel investment. According to the research findings, professional angel investors are generally older and more educated than regular angel investors, and they are concentrated in the metropolitan region. Additionally, their investment performance before and after registration remains similar, with investment amounts concentrated between 50 million and 100 million won. Their investment portfolios focus on ICT services, bio/medical, and distribution/service sectors. Based on these findings, policy and institutional support measures are required to revitalize angel investment, including easing registration requirements for professional angel investors, expanding tax benefits related to angel investment, strengthening the provision of information and education related to angel investment, and enhancing angel investment networking. This study is expected to contribute to the revitalization of the venture startup ecosystem and economic growth through the revitalization of angel investment.

• International Commerce and Information Review
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• v.10 no.4
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• pp.221-250
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• 2008

This study investigated and analyzed the export competitiveness of Gyeonggi-Do and the effect of Korea-US FTA on its export competitiveness. By reviewing the current status of trade structure and implementing trade specialization index(TSI) of export commodities of Gyeonggi-Do, the investigation has listed the specific export commodities with competitiveness for increasing the volume of its export in the United States, in the short, mid and long run perspectives. From the findings in this study, it suggests specific trade and commercial policies to Korea-US FTA including implementing commodity-oriented export supporting system, strategic marketing method, economic-free-zone plan, R&D investment, export financing and regional economic cooperation.

• Asian Journal of Innovation and Policy
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• v.12 no.2
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• pp.268-276
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• 2023

As the climate crisis intensifies, the need to improve the climate resilience of developing countries is ever increasing. Hence, the international community is seeking ways to effectively conduct climate technology transfer by linking the projects with financial mechanisms. However, commercialization of climate technology in developing countries is no easy feat as comprehensive knowledge on the target country is a prerequisite for seeking a suitable technology-financial linkage measure. Hence, in-depth discussions on effective climate technology and financial linkage measures have become an important global agenda, and South Korea, as a country with long experience in climate technology transfer, and a strong ecosystem for public climate technology, should step forward to take up a leading role. Against this backdrop, this paper proposes strategies and implementation measures for linking funds from the Multilateral Development Banks (MDB) with Korea's Public Climate Technology (PCT) by examining several key areas of R&D, international cooperation, and technology commercialization.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.271-279
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• 2019

The purpose of this study is to identify the barriers of university and industry cooperation and to develop recommendations for the internal ecosystem of technology commercialization. The research method used is a survey of three categories of experts from 9 universities of Almaty (researchers, technology transfer managers, spin-off-owners). Despite the strong efforts of the government of Kazakhstan in building innovation infrastructure, there is a low level of innovation activity, less than 5% of university inventions are transferred into the industry. The results of the expert survey showed that the main barriers for cooperation between university and industry are: lack of resources to build university-industry links, lack of time due to high teaching load, poor qualification of technology transfer managers and lack of networking with industry. Based on the results of the expert survey, it is proposed to develop the ecosystem for the commercialization of university-based technologies, for which the following economic activities are important: human resources, financing, intellectual property management system, and intermediary infrastructure. The results of this study can be applied in developing the strategies and policies for universities, public research organizations, as well as for national R&D and higher education policies.

• Journal of Korea Technology Innovation Society
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• v.13 no.3
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• pp.538-557
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• 2010

Korean Government has supplied small-medium enterprises with various technology financing programs such as R&D grant." loans, equities, guarantees since 1980's. The purpose of this study is to render policy suggestions for policy makers by analysing problems with regard to regulations. The suggestions of this study are such as the following. First, the current three months of the fund formation period should be extended within six months for general partners to have enough time to raise funds in the current tough capital market situation. Second, the government's non priority loss devotion system should keep going to prevent general partner's moral hazard. Third, in order to fulfill the policy purpose that is to create globally well-known companies, the government investment ratio should scale up from the current 20% to 30% of the total fund size in that the stable capital supply for core technology commercialization, industrialization and globalization of companies is achieved. Finally, general partners of the New Growth Engine Fund should showoff their investment abilities to the potential investors such as institutional investors by accumulating all track records and know-hows that prove their specialities and implementing action plans to achieve the best result of their investment. This study provides general considerations of the selection procedure, the government investment ratio, the government priority loss devotion system and so on when formating the public funds.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.4
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• pp.231-241
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• 2024

Discovering innovative startups that use public technologies from universities and government-funded research institutes is crucial for maintaining national competitiveness. Advancing public R&D technology, discovering entrepreneurs from research institutes, and fostering and investing in deep-tech startups are very important at the national level. However, there is a lack of research on activating startups using public technologies, and research analyzing each governance entity is needed to activate the innovation startup ecosystem. Therefore, this study conducted an empirical analysis of the priorities for revitalizing the innovation startup ecosystem among researchers, research institutes, innovative startups, and the government, which constitute the public technology governance. The results of this study revealed that the sustainability of innovative startups (0.308), government innovation startup activation (0.298), research institutions discovering and fostering startups (0.221), and researcher's characteristics (0.173) were the most significant factors in the public R&D technology innovation startup ecosystem. And the sub-factors of researcher's characteristics, seizing business opportunities (0.305) was most important, and creating a startup-friendly culture (0.293) was most important among the sub-factors of research institutions discovering and fostering startups. Investment funds and procurement (0.373) was the most critical sub-factor for the sustainability of innovative startups, while a dedicated fund for public technology (0.305) was the most important among the sub-factors of government schemes for promoting innovative startups. A total of 20 factors were analyzed sequentially according to their importance in the weights for evaluation factors and sub-factors. By sub-factor, investment and financing for innovative startups (0.115), dedicated government fund for public technology (0.091), securing high-quality human resources for innovative startups (0.078), improving government regulations and permits related to innovative technologies (0.074), and creating a startup-friendly culture in research institutions (0.065) were the most important. This result emphasizes the significance of securing competitiveness to become a sustainable public technology startup. In addition, based on entrepreneurship experience, 'dedicated funding for public technology' was most important for the group with startup experience, while the group with no experience needed more 'investment and funding'. Furthermore, By region, 'improving government regulations and permits' was the highest priority in the Seoul metropolitan area, while 'attracting investment and financing' was the most important in Daejeon. Therefore, the results of this research, it is important to give policy priority to innovative startup companies in order to activate the innovation startup ecosystem in the public technology sector. The political and practical implications were derived that long-term (10 years or more) investment and funding for deep tech companies and the establishment of public technology-only funds are the most urgent and important.

• Management & Information Systems Review
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• v.32 no.2
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• pp.21-46
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• 2013

The purpose of this paper is to find impacts of financial activities-financing and investment of Venture Firms during pre-listing periods on the firms' Venture Firm's listing(delisting). The several ratios financial variables relevant to the financing and investment were examined whether there are difference or not between two venture firms groups. The results of study can be summarized as follows. First, the firms of successful group have fewer numbers of equity financing and higher times of premium in issuing stocks than those of failed firms but there is no significant difference in the required time from startup to listing the KOSDAQ. Second, there is no significant difference in the ratio of capital increase in IPO between two groups but additional survey reveals that the successful firms financed equity in IPO by higher numbers of premium than failed firms, which can makes the major shareholder of the successful firms maintain high rayios share of stock. Third, the ratio of working capital investment of the successful firms is significantly higher than that of failed firms, on the other hand the failed firms' ratios of equipment and repayment investment are higher than those of successful firms. Finally, the ratio of R&D investment has no difference between two groups, this result is against the expectation, which is to be further analyzed.