• Title/Summary/Keyword: Recognition of Startup

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Impact of Startup Support Program on Entrepreneurial Self-efficacy, Opportunity Recognition·Startup Intention of Undergraduate Students (대학생 창업지원프로그램이 창업효능감, 기회인식, 창업의지에 미치는 영향)

  • Lee, Jung Ran;Chang, Gyoo Soon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.13 no.1
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    • pp.43-60
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    • 2018
  • The purpose of this study is to inform the university stakeholder and startup policy makers about the current status of startup support programs and to identify criteria that could impact the startup effectively among various support program. The purpose of this study is to categorize the startup support programs into three different types. These types are startup education support, startup activity and commercialization support the startup Intention of university students was analyzed using survey and interview during the these programs. In addition, the impact on startup intention was empirical analyzed utilizing entrepreneurial self-efficacy and opportunity recognition support programs. Research results show that, Firstly, startup activity support program had impacted on both entrepreneurial self-efficacy and opportunity recognition. Commercialization support had impacted entrepreneurial self-efficacy. However, startup education support program had no impact on entrepreneurial self-efficacy and opportunity recognition. secondly, entrepreneurial self-efficacy and opportunity Recognition have influence on startup intention. Thirdly, startup activity support had influenced on startup intention. Finally, startup activity support and startup intention strongly influenced entrepreneurial self-efficacy. Also, commercialization and startup intention strongly influenced opportunity recognition. Other factors only influenced partially. Startup support program shall seek various solutions to improve quality to increase startup intention based on the research results. Also, high quality educational program shall be offered to improve entrepreneurial self-efficacy and opportunity recognition, while promoting startup activity and commercialization support emphasized. Try to realize a strategic development for activation of startup business.

The Impact of Perception of Entrepreneurial Opportunity on the Entrepreneurial Intention: Focusing on Positive Psychological Capital (창업기회인식이 창업의도에 미치는 영향에 관한 탐색적 연구: 긍정심리자본의 매개효과를 중심으로)

  • Jang, Hyeon Cheol;Kim, Jong Sung
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.6
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    • pp.43-55
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    • 2021
  • Recently, as the domestic job problem has become serious, government ministries are investing a lot of budgets to encourage startups by prospective entrepreneurs. What is important to the success of startups is the recognition of various startup opportunities before starting a startup, and the experience through trial. However, in reality, prospective entrepreneurs recognize and seek various startup opportunities through support such as startup education and initial commercialization funds through various government supported projects, but it is difficult to actually start a business. Previous studies have revealed that the recognition of entrepreneurial opportunities affects entrepreneurial intentions by various variables such as gender, but research is insufficient on what kind of black box exists between the recognition of entrepreneurial opportunities and entrepreneurial intentions. The purpose of this study is to emphasize the importance of positive psychological capital as a major method for improving the entrepreneurial intention, and to analyze exploratorily whether positive psychological capital plays a mediating role between the recognition of entrepreneurial opportunities and the entrepreneurial intention. As a result of the study, it was confirmed that the recognition of startup opportunities affects the intention to start a business, and positive psychological capital has a mediating effect between the recognition of the startup opportunity and the intention to start a business. This means that positive psychological capital is important in order to lead to actual entrepreneurial intentions after recognizing a startup opportunity. Therefore, in order to revitalize the startups of prospective entrepreneurs in the current startup ecosystem, it is necessary to prepare a plan to improve the recognition of startup opportunities and positive psychological capital.

Mediating Effect of Opportunity Recognition Among Entrepreneurial Alertness, Mentoring, & Number of Mentoring on New Ventures' Performance (기업가적 기민성과 멘토링 및 멘토링 횟수와 기업성과 관계에서 기회인지의 매개효과 영향)

  • Park, Mi-Jung;Lee, Seon-Ho;Hwangbo, Yun
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.4
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    • pp.1-24
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    • 2021
  • The Korean government is currently expanding the business startup incubator support program and funds for new ventures with innovative technology in order to spread the second venture boom. However, despite the fact that entrepreneurial education and mentoring that entrepreneurs should have are important parts for the sustainable growth of the startup, some companies selected for government support programs are reluctant to participate in programs such as entrepreneurship education and mentoring for the sole purpose of funding commercialization. This research addressed the effects of entrepreneurial alertness with opportunity awareness as its medium and the small business mentoring service along with the number of times the mentoring has taken place, on the corporate performances. The results of empirical research are as follow: the first one is that scanning-search and evaluation-judgment can influence a company's performance (financial, non-financial) through opportunity recognition, with the exception of association-connection, which is a sub-factor of entrepreneurial alertness. Secondly, it was found to affect a company's financial and non-financial performance through opportunity recognition for financing mentoring, technical support mentoring, and management support mentoring. Thirdly, it was found that the number of mentoring also affects the financial and non-financial performance of a company through opportunity recognition. The implications of this study are that it should be revisited that program managers consider rooms that do not violate the startup founder's strategic decision-making opportunities when designing and operating the program as entrepreneurial alertness sub-factor association-connection does not affect corporate performance through opportunity recognition. This study also emphasizes the need for customized mentoring to meet the outcome goals of each startup, as it has been empirically clarified that the mentoring provided to the startup by the government's support is important. The contribution of this research is that entrepreneurial alertness and opportunity recognition that are treated as important components in research for entrepreneurship, and the factors of mentoring and mentoring frequency that are recognized as important elements in the practical aspect of startup business are clarified theoretically and empirically as an influential factor in corporate performance. And this study also provide a rationale for the startup business support agency supplying mentoring.

Comparative Study of a Startup Ecosystem in Seoul, Korea and Chengdu, China (한국과 중국 청두의 창업생태계 비교에 관한 연구: 질적 연구를 중심으로)

  • Kwak, Hyejin;Rhee, Mooweon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.13 no.5
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    • pp.131-154
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    • 2018
  • While strong investments on startup and venture ecosystem prosper worldwide, growing interest on nurturing startup ecosystem in Korea is also on its way. However, korean entrepreneurial ecosystem currently results few successful business models with those continuous development of itself compared to the one in China, which is breeding more than 50% of unicorns internationally. Accordingly, this study examined how people in the venture ecosystem, especially in IT industry feel about themselves and startup itself and compared startup ecosystem in Seoul, Korea to the one in Chengdu, China considering each of economic, social and administrational environment. The study tried to provide an implication about the future orientation of Korea's starup and venture ecosystem to policy makers and the ones inside the environment to make a better one. Therefore, the study choose Seoul, Korea and Chengdu, China as geological specimens of startup ecosystem and conduct qualitative study by interviewing selected ones who work in startup incubator, accelerator specified to IT industry and started their own business in IT industry funded by startup reward program. The study categorize the result in social, economic, and administrative parts and screens whether the interviewees from both Korea and China have similar opinions toward each of questions and can be translated to have tendency or not in each part of study. According to the study, the national recognition of startup should be moved from means of maintenance such as restaurants, franchise business to IT startup especially based on software business for the sustainable flourish in Korean venture ecosystem. Investors including accelerator, Angel investors and VCs should be less risk-aversion and therefore prefer stake purchase to solely giving subsidies. The role of governors should be limited to be a middleman of the network, connecting each people in need inside the ecosystem and their reward program should focus on nurturing the growing ones, not just multiplying the numbers of startups to expand the size of entrepreneurial ecosystem. Since this study indicated that entire revision of startup ecosystem should be applied to make a better one, it could be used to design future entrepreneurial infrastructure and the ways of activating startup ecosystem elsewhere in Korea.

A Case Study on Freshcode for the Food Online Platform Business: A Focus on the Lean Start-Up (푸드 온라인 플랫폼 비즈니스 프레시코드 사례: 린 스타트업 방식을 중심으로)

  • Kim, Cha Young;Park, Cheol
    • Journal of Information Technology Services
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    • v.20 no.5
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    • pp.89-104
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    • 2021
  • Food delivery service combined with IT technology and HMR (Home Meal Replacement) are rapidly growing due to the COVID-19. Recently, the demand for salads along with HMR has increased among office workers in their 20s and 30s who are interested in health and beauty. Freshcode is a food startup with 6 years of experience that started selling salad products through O2O service. Freshcode applied for a patent for a service that collects orders from nearby areas and delivers them on the same day to a designated delivery address 'FCOSPOT' to save shipping costs. In March 2021, in recognition of the growth potential of the regular delivery service, Freshcode received an investment of 6 billion won in Series A. This study may have practical implications to early-stage startups and scale-up stage startups through a longitudinal case study on the growth of a single company. As for the research method, the lean startup methodology and lean canvas were used in the early stage of startup. In particular, the process of the build-measure and learn feedback-loop, which is the core of lean startup methodology, was applied to each major decision-making step. In the scale-up stage after 5 years, the business model canvas was used to schematize the growth as a food online O2O platform to verify continuous innovation. This case study has three main findings. First, the idea of 'FCOSPOT' was successfully implemented through the Lean Startup methodology. Second, Freshcode demonstrated the scalability of the differentiated business model of shared base delivery O2O. Third, a key factor of success was the digital integrated communication operation strategy that maximizes the experience for the created customers.

Factors Influencing Entrepreneurial Intention of Young Entrepreneurs Preparing to Operate Smart Farms - The Mediating Effect of Entrepreneurship and Entrepreneurial Opportunity Recognition - (스마트팜 예비 청년창업농의 창업의지 영향요인 분석 - 기업가정신과 창업기회인식의 매개효과 -)

  • Ji-Bum Um;Myeong-Eun Park
    • Journal of Agricultural Extension & Community Development
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    • v.29 no.4
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    • pp.251-264
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    • 2022
  • This study aimed to identify the factors that influence young entrepreneurs' desire to start a smart farm business. Young entrepreneurs' entrepreneurial self-efficacy, entrepreneurial intention, entrepreneurship, and Entrepreneurial opportunity recognition were modeled structurally, and the mediating effect of entrepreneurship and entrepreneurial opportunity recognition was investigated. Data were conducted from 159 usable questionnaires. The following are the findings of this study. Entrepreneurial self-efficacy did not have a significant effect on entrepreneurial intention, but entrepreneurship and entrepreneurial opportunity recognition were found to have a mediating effect on entrepreneurial intention. Therefore, the preparation of training programs to encourage entrepreneurship or the dissemination of pertinent information to identify opportunities should take precedence over immediate startup.

Status of Youth Entrepreneurship in Korea (국내 청년층의 창업인식 실태와 증대방안 - 청년층의 직업관을 중심으로)

  • Lee, Jae Hoon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.9 no.6
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    • pp.1-8
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    • 2014
  • The government has established a foundation activation measures across a total of 10 times to expanse job creation, promote new growth engines and enhance youth entrepreneurship for trying to spread socially. In order to improve startup activation policies and excavation, it is necessary to supplement the gaps going to construct a stable infrastructure through periodic status research on their occupational sense and entrepreneurship awareness. Since 2012, the government's has been surveyed to address the current understanding of the occupational sense and entrepreneurship awareness of population characteristics. Until 2013 only the youth were surveyed, recently from 2014 expanded its range to the public. This study laid the foundation for a more comprehensive set of analysis through which to learn and understand the differences between the status of each group for entrepreneurship awareness by utilizing survey data from the government. And this study was obtained from a survey of university students and the general public. A total of 3000 people nationwide survey was conducted about the entrepreneurship environment for start-ups and entrepreneurship awareness and success factors for a month. The University students survey result were classified according to the area, school and gender. And The general public survey was classified according to the area, the age and gender. Each response result indicates a significant difference between the students and the general public did not appear. But through this survey, This study would contribute the establishment of the national startup infrastructure.

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A Study on the Supporting System for Growth Stage of Startup (창업기업의 성장단계별 지원체계에 관한 연구: 국내외 유니콘 기업의 사례 비교)

  • Lee, Jae-Seok;Lee, Ki-Ho;Lee, Sang-Myung
    • Korean small business review
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    • v.43 no.1
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    • pp.165-186
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    • 2021
  • Startups are undergoing a change throughout the growth process of startups that appear in existing studies as they move away from the existing B2B or B2C frame and expand their target customer groups to O2O, C2C. In this regard, a new type of startup known as unicorns, a unicorn which has grown rapidly in a short period of time, is being created by successfully attracting government support and external investment in recognition of the potential value of the startup. This study examined the relationship between investment attraction and growth after founding for five representative unicorns in the U.S. and Korea. As a result, it was found that private investment in Korea is passive and defensive, and is attracted after the Series A stage, compared to the U.S., where the growth potential of the startup ecosystem is positively evaluated. In addition, it found that government's support policy throughout the startup's growth process is an abstract and comprehensive policy focusing on initial funding for startups. Therefore, it was suggested that the scope of government policies should be expanded to forster startups as unicorns, and that it is necessary to establish and implement differentiated support policies for each growth of the scale-up of startups. This study is significant in that it presented the criteria for the growth stage and support of startups as well as policy support for scale-up through practical case analysis of unicorns.

Effects of Universities' Startup Support Programs on Entrepreneurial Intention of Undergraduate: Moderating Role of Entrepreneurial Self-Efficacy (대학의 창업지원프로그램이 창업의도에 미치는 영향: 창업효능감의 조절효과)

  • Jung, Duk-Hwa
    • The Journal of the Korea Contents Association
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    • v.18 no.7
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    • pp.635-646
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    • 2018
  • This paper aims to examine structural relationship between startup programs aided by university what reflected in GEM(Global Entrepreneurship Monitor) model and was establishing entrepreneurial intention of current university students. Total of 364 suitable sample data were used to empirical analysis hypotheses. The results of the hypothesis test through analysis of the structural model are summarized as follows. First, among the factors of universities' startup support programs, entrepreneurial education, entrepreneurial consulting, R&D transfer, and entrepreneurial culture has a positive effect on recognition of entrepreneurial opportunities. Second, entrepreneurial education and entrepreneurial consulting has a positive influence on entrepreneurship. Third, the parameters of entrepreneurial opportunities and entrepreneurship positively influences on entrepreneurial intention. Therefore, University should support entrepreneurial education, R&D transfer, entrepreneurial consulting and makes entrepreneurial culture intensely for vitalizing university students entrepreneurial intention.

Subjective Recognition Type of Entrepreneurship Education in Korea: Comparison to the European Union and OECD - Using Q methodology - (유럽연합과 OECD의 기업가정신교육 비교를 통한 한국 기업가정신교육의 주관적 인식 유형 연구 - Q방법론을 사용하여 -)

  • Do, Hyewon;Kim, Kyong-hwan
    • International Area Studies Review
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    • v.22 no.1
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    • pp.188-211
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    • 2018
  • This study examined the problem of entrepreneurship education in Korea, which equate entrepreneurship with startups, unlike the global trend of approaching entrepreneurship with a broad concept. On the basis of overseas cases such as European Union and OECD, this study derived the need for entrepreneurship education from the perspective of thinking and behavioral patterns. In addition, Q methodology was used to reason out various recognition patterns and approach solutions for problems of entrepreneurship education in Korea, such as awareness of the need for entrepreneurship education in concepts separate from start-ups, reasons for infertility, and why it is difficult to activate. This approach was conducted for educators and educatees that carries out entrepreneurship education in Korea. In conclusion, there were four types of subjective perceptions about the difference of entrepreneurship education and startup education, and three types were recognized for the need to differentiate entrepreneurship education from startup education, and the two types that made up the upper majority strongly supported the need for entrepreneurship education to be implemented individually. According to the conclusion, this study proposed the development and spread of common teaching materials made by the Ministry of Education and Ministry of SMEs and Startups, which is the competent Ministry, to train professional teachers, training methods, and continuous refresher education. It also proposed that there should be a social atmosphere for eliminating rejection of entrepreneurship not only among the youth but also the adult population, and for continuous awareness of concepts that can be applied within the organization and the community, and that a policy basis is required to do so.