• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.1
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• pp.61-72
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• 2018

In a rapidly changing environment, such as globalization, technology-based startups are attracting attention as a new growth engine that creates jobs and added value and promotes national competitiveness. At present, countries around the world recognize the development of technology-based start-up companies as a major policy task and strive to make policy efforts to revitalize start-ups and strengthen innovation capabilities of companies. Especially, in order to secure superiority in the fierce market competition, it is becoming more and more important for the growth and development of technological start-up companies that pioneer new markets and energize the economy based on original and innovative technologies. Therefore, it is necessary to study systematically and plan for survival and growth of technology start-up companies. The purpose of this study is to investigate the entrepreneurial spirit of Innovation, Entrepreneurship, Risk Sensibility and Technology Innovation Capacity, R&D ability, Technology Accumulation Capacity, Technology Innovation System, The results of this study are as follows. the effects of marketing ability on technical performance and financial performance are examined. First, the CEO 's entrepreneurial spirit has an effect on the technical performance and financial performance of the management performance. Second, the technology accumulation ability and the R & D capability have a positive effect on the technical performance. Finally, it was found that the ability to commercialize the technology commercialization capacity affects both technical performance and financial performance. The policy implications that can be gained through this are as follows. First, by strengthening cooperation between universities and research institutes, related technology entrepreneurship education programs should be upgraded so that technology entrepreneurs or preliminary entrepreneurs can capture business opportunities and secure market price competitiveness. Secondly, R & D for the purpose of start-up should be developed and marketable technology should be developed and linked to direct start-up. Third, it is necessary to activate the program to match the company with the honorary retirement manpower of large enterprises and SMEs, which have more experience in field experience than the founders.

• World Technopolis Review
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• v.5 no.2
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• pp.86-97
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• 2016

There is both a commercial and social imperative for innovation-led economic development. The data on inventions shows the importance of cities in the role of creating this important foundation to innovation. The importance of new venture firms in the innovation process of taking inventions to market is widely recognised, and with this recognition the science parks and science cities are working to understand and replicate the social, business and technology environments which are most fertile for these companies. This paper reviews how those with an interest in this process have addressed this challenge with new business practices and planning activities. It draws particularly on the experiences of Tech City in London and the Surrey Research Park

• 한국벤처창업학회:학술대회논문집
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• 2020.06a
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• pp.191-195
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• 2020

최근 벤처 캐피탈의 투자는 지속적으로 증가하는 가운데, 특히 핀테크 산업의 투자가 괄목할 정도로 증가하고 있다. 핀테크는 금융과 기술의 만남이라는 관점에서 주목을 받았다. 핀테크 업체는 기존 전통 금융기관이 가지고 있는 Pain Point를 공략하여 혁신을 주도 해 나가고 있다. 결제, 송금 등에서의 비효율을 개선하고 있으며, 자산 관리 분야에서도 편리한 투자 솔루션을 낮은 수수료 체계하에서 제공하여 시장 점유율을 확대가 가속화 되고 있는 실적이다. 이러한 핀테크 스타트업의 성장 추세에서 어떠한 요인이 기업 가치에 가장 영향을 주었는지에 대한 연구는 개념적인 수준에 머물러 있다. 이는 한국의 경우에는 여러 가지 규제로 인해 글로벌 업체 대비 발전에 저해가 되는 제도적인 문제가 있어 성장성을 보이는 업체가 제한되어 있고, 글로벌의 경우도 의미있는 핀테크의 성장은 최근 2~3년내에 빠르게 변화한 상황으로 관련 연구가 시작 단계에 머물러 있다. 본 연구에서는 2000년~2020년 1분기까지의 글로벌 핀테크 업체를 대상으로 어떠한 요인이 기업 가치 증대에 가장 의미있는 영향을 주고 있는지 파악을 하는 것을 목적으로 한다. 금융 CVC 투자 여부, CEO의 학력, 사업 지역, 핀테크내 세부 산업 분류 등의 요인에 대하여 분석을 진행하였다. 이를 토대로 향후 핀테크 산업 성장을 견인 할 수 있는 측면에서 시사점을 제공하고자 한다.

• The Journal of the Korea Contents Association
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• v.15 no.2
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• pp.393-407
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• 2015

This study is intended to look into the effects of small business startup environments on failure burden and startup failure. To achieve this, a survey was carried out to 300 small business CEOs in Seoul. The results were as follows. First, the effect of startup environments on failure burden showed that management environment, business environment, internal organizational environment and external organizational environment had a negative effect on failure burden. Second, the effect of startup environments on financial and non-financial losses showed that startup management environment, startup business environment and internal organizational environment had a negative effect on financial and non-financial losses. Third, the effect of failure burden on startup failure showed that failure burden had a positive effect on financial and non-financial losses. Consequently, this study indicates that internal organizational commitment and communication are important attributes affecting failure burden, financial and non-financial losses, compared with management quality, entrepreneurship and business environment.

• 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.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.151-163
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• 2021

Purpose - The break-even point refers to the point where total profit and total cost coincide, and from this point on, the entrepreneur's decision-making takes a different route. Strategic decisions can be made for more efficient operation and eventually for more likelihood for growth and sustainability if a startup figures out when it recoups the investment and switches to a net profit. Design/methodology/approach - 748 creativity and skill-based sole proprietors in manufacturing industry were examined to demonstrate the effect of the entrepreneur's entrepreneurial experience and education level, the business launch preparation time, or the self-financing on the achievement of break-even point. Findings - While the business launch preparation time lowered the likelihood of reaching a break-even point, self-financing increased the likelihood. As a result of further analysis by subdividing into subgroups according to skill level, only the business launch preparation time was statistically significant in the highly skilled industries. In the low skilled industries, in addition to the business launch preparation time, the CEO's education level and the self-financing were statistically significant. Research implications or Originality - The longer the business launch preparation time, the higher the start-up cost, which increases the burden of initial cost recovery, and the agile response to market changes is thereby delayed, resulting in the business idea losing its appeal. Self-financing not only provides stability and strong motivation for the business operation but also promotes careful spending which contributes to the achievement of break-even point. In particular, it is found that practical experience is more useful than theoretical knowledge in low skilled industries. Due to the limitation of secondary data based on the recollection, the time required to reach a break-even point, percentage of financing sources, etc. may include cognitive errors. In addition, variables are not included that explain the characteristics of creativity and skill-based sole proprietorship, so it is necessary to exercise caution with the actual application.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.27-37
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• 2015

Start up a company is critical to the regional economy and job creation and so get support from government and other organizations, but there are still exist of high rate of failure and CEO's stressful fear of failure. New firms are of utmost importance for the vitality of national economic driving forces but for those failed firms, they caused social and economic problems directly and indirectly, and brought frustration to the founders. The many education and research programs about entrepreneurship and venture creation were undertaken by the country and organizations, but the education and research about the vigilance of failed to start up company were almost ignored. If the attention can be put into the research about failed companies and the research can make the founders and pre-CEOs aware the failure of establishing a company, that would be very valuable as scenarios to see the company risks. This case study shows the finding the reasons which caused the failure of small venture companies and it's implications in the filed of establishing companies. The technology based venture company which had run 10 years in Daedeok's IT field was selected as the research object. The results show that the important factors such as entrepreneur characteristics(lack of communication and management knowledge), business management(lack of business expertise) and technology(loss of unique feature of product and lack of product extension) were the root cause of failures.

• Journal of Distribution Science
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• v.15 no.5
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• pp.5-15
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• 2017

Purpose - This research identified the factors to be considered when CEOs establish small companies and improve their businesses by analyzing the effects of their entrepreneurship and marketing activities on the business performance of small companies and suggested measures to utilize them strategically. Research design, data, and methodology - The research conducted a survey for companies located in Busan, and Gyeongnam area in Korea. To verify the model and hypothesis mentioned above, relevant items were allocated to each variable. Results - the research found that the innovation of entrepreneurship negatively affects formalization and centralization along with the propensity for risk-taking which negatively affects all the characteristics of an organization's structure. It was also found that the pro-activeness which was rejected in the selection and verification of hypothesis is the CEOs characteristics which positively affect all of the organization type are contrary to the initial hypothesis. Conclusions - The results of these efforts will positively contribute toward developing a start-up strategy helpful for small companies CEOs, to change the business environment proactively, to operate their organization efficiently and to develop market-oriented marketing activities and objectives. This research found the role of market-oriented characteristics demanded by the CEO to overcome organizational structure, business innovation and bad business situations.

• Journal of Korea Technology Innovation Society
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• v.12 no.4
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• pp.840-864
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• 2009

At the time of so-called localization, the start-up and successful management of NTVs (New technology ventures) might be a key factor of regional economic development. The research investigated the factors influencing the performance of NTVs South-western Area. According to the research result, the capability of CEO and R&D cooperation, supply chain integratim, information searching activities, market orientation are the factors which have positive correlation with the performance of NTVs in a statistically significant way in this region.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.191-209
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• 2023

Amid rapid changes in technological innovation due to the influence of the 4th Industrial Revolution and COVID-19, research related to absorption capacity and patent activities to promote technological innovation of Korean technology start-ups is important in this uncertain environment. This study aims to examine the effects on entrepreneurial performance and patent activities by reconstructing absorptive capacity, an organizational capability, for technology-based startups in fields such as BT and ICT with less than seven years of establishment, distinguishing between potential absorptive capacity and realized absorptive capacity. The study also seeks to develop a theoretical research model. To accomplish this, data was collected from managerial executives, including CEOs of 215 technology startups. The following hypotheses were tested: Firstly, potential absorptive capacity had a significant impact on patent activities, while realized absorptive capacity did not. Secondly, potential absorptive capacity had a significant impact on technological performance, while realized absorptive capacity did not. Thirdly, both potential and realized absorptive capacity had a significant impact on financial and non-financial performance. Fourthly, patent activities indirectly influenced potential absorptive capacity and technological performance, but did not affect realized absorptive capacity. Fifthly, patent activities indirectly influenced potential absorptive capacity and financial performance, but did not affect realized absorptive capacity. Lastly, patent activities indirectly influenced potential absorptive capacity and non-financial performance, but did not affect realized absorptive capacity. The practical significance of this study lies in providing useful guidelines for building the core capabilities of organizations through absorptive capacity and patent activities. Furthermore, it is expected that startups that have not recognized the formation process of absorptive capacity for patent activities will perceive the formation mechanism of absorptive capability anew and show considerable interest in future potential and realized absorptive capacity as part of their management strategies. This is anticipated to play an important role in adapting to rapidly changing technological advancements, the startup ecosystem, and securing sustainable competitive advantages.