• Journal of Venture Innovation
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• v.5 no.2
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• pp.15-34
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• 2022

Many countries, including Korea, have established and operated various startup supporting programs to revitalize youth entrepreneurship. This study aims to identify the current status and characteristics of the major startup supporting programs currently operated in Korea and propose development plans for future startup supporting programs through analysis of the startup supporting systems of major countries. By analyzing the success factors of domestic and foreign startup supporting systems, we suggested improvements that can be operated more effectively in the areas of financial support, selection process, education and mentoring, networking, publicity and branding, and follow-up management by operated startup supporting programs. In addition, improvements for performance evaluation indicators of startup supporting programs were suggested and limitations of the study were presented.

• Journal of Distribution Science
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• v.12 no.6
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• pp.81-88
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• 2014

Purpose - Entrepreneurship promotion is emerging as an important economic growth agenda. However, in Korea, entrepreneurship has weakened because of the collapse of the venture bubbles of the 2000s and the global economic recession in 2008, which have induced the business community to choose stability over risk. The Korean government has been implementing several support projects to inspire and promote youth entrepreneurship through various means including financial assistance; however, the perpetuation rate of young entrepreneurship is still low as compared to advanced economies such as the US and EU. This case study focuses on the Youth Start-Up Business Support Program of the Small & Medium Business Corporation, and explores practical alternatives. Further, it aims to suggest managerial factors and a conceptual model for change management factors affecting the business performance creation of a startup company, based on the Small and medium Business Corporation's young venture startup fund. Research design, data, and methodology - Many studies examine the current progress and issues of startup firms, for example, a lack of systematic cultivation of entrepreneurship and startup business training, lack of commercialization funding for youth startup businesses, lack of mentoring, and inadequate infrastructure. From prior research, we address four factors, namely, personal managerial capabilities, innovative business model, sufficient cash flow, and social network, affecting startup companies' business performance. This study involved a sample survey of 200 young entrepreneurs to investigate casual relations between the four factors and business performance. A regression analysis was used to verify the hypotheses. Results - First, in relation to differences in the founder's personal characteristics, age, sales amount, and number of employees significantly impact business performance. Second, regarding the causal relation between the four factors for creating business performance, an innovative business model and social networking have supported the hypotheses, revealing that the more that a start-up founder has an innovative business model and social networking, the more the start-up firms are likely to have better performance (e.g., sales volume, employment, ROE, ROI, etc.). Although the founder's competency and sufficient cash flow have no significant relationship with business performance, the mean value was higher performance for high founder's competency and sufficient cash flow. Conclusions - This study provides basic data on policy support strategies of the Small and Medium Business Corporation, to help young entrepreneurs achieve their start-up business goals. It shows that young entrepreneurship startup firms should strive to explore ideas to satisfy customers' needs, and that changes in customer value and the continuous innovation of business model differentiation are required to actively respond to change management. Moreover, at the infant startup stage, they should activate social network programs to share information, thereby offsetting resource scarcity and managing business risk. Further, the establishment of a long-term vision and the implementation of training programs in related specific fields should be supported to strengthen founders' personal capabilities.

• 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.

• Journal of Digital Convergence
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• v.16 no.12
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• pp.11-20
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• 2018

This research investigates comparisons and characteristics of government's startup polices between startup for micro-enterprise and technology based startup. In particular, revitalization plans of "New Business Start-up Academy (NBSA)" which is supported by a governmental organization, are proposed. Currently, korean government's startup polices are focusing on more technology based startup than startup for micro-enterprise. In order to overcome this issue, this research examines the current issues of the startup policies for micro-enterprise and the detailed plans for revitalizing micro-enterprises' startups. As detailed research studies, the current program and supporting mechanism of NBSA are analyzed. Then, these are compared with several startup policies of Korea government and the detailed action plans are proposed. The proposed results contributes to the criteria and the references for vitalizing micro-enterprises' startups.

• 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.

• Journal of Digital Convergence
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• v.13 no.1
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• pp.1-10
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• 2015

This paper discusses entrepreneurship as a mean to overcome problems that arise from economic growth with no job growth and with aging population. In particular, this paper focuses on senior (elderly) entrepreneurship based on technology. It examines and defines restraints of various public and private sponsor programs for senior entrepreneurship. In comparison, Bridge Program of Finland was studied and its success factors are presented. Some of these success factors are enterprise-driven program operation, diverse education program focused on successful senior entrepreneurship, providing networking opportunities among entrepreneurs, and increased awareness in social responsibility of private enterprises. This paper suggests CBI (Corporate Business Incubator) in order to promote senior entrepreneurship. This study is expected to foster economic growth and job creation through utilizing increased elderly population in today's aging demographics. In addition, this study will be able to identify direction for government's role in boosting senior entrepreneurship.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.107-117
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• 2017

Entrepreneurship is a means of improving national competitiveness that can expand the industry quantitatively and qualitatively based on new technologies and ideas. As a result, we are implementing a nationwide initiative support policy around the world. It leads to actual results and grows into a global company. It also has the advantage of being able to produce potential creative people through support for startups. In order to cultivate talented people suitable for startup in Korea, Venture For Korea, the internship program is being carried out with the aim of strengthening basic capabilities and establishing an exchange with existing companies. The purpose of this study is to verify the effectiveness of the system by using justice theory among the interns of the startup internship. In order to improve the accuracy of the study, the survey was done by a complete enumeration and the results were analyzed through Smart PLS 2.0. As a result of the analysis, the distributive justice and interactional justice among the fairness variables have a positive effect on the expectancy effect, and the expectancy effect has a positive effect on the satisfaction. However, procedural justice did not appear to have an effect on expectancy effects. This is because it's been only two years after the start of the internship program, and it seems to reflect the lack of consensus about the process among the stakeholders (enterprise, pre-entrepreneur, the government) related to the system. The results of this study are meaningful in that it deduces the insufficient part of the startup internship based on the justice theory. In other words, in order to increase the policy effect of the startup internship, it is necessary not only to emphasize only the purpose, but also to establish a policy direction complementing the procedural aspect.

• Asia-Pacific Journal of Business
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• v.10 no.3
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• pp.113-124
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• 2019

With the decline in the college student population and the increase in the youth unemployment rate, the university began to be interested in starting a business. Under the initiative of the government, the start-up support project was reflected in the university's educational programs, which led to the university students receiving various start-up support benefits. In response to the expansion of entrepreneurship education, various entrepreneurship education programs and support programs were applied in line with the government's efforts to start college students. As a result, students' entrepreneurial competence and willingness to start up increased. College student entrepreneurs and entrepreneurs are increasing. The increase of university student start-up companies is taking place in the entrepreneurial education environment within the university, and the support of university, community, and start-up support institutions for university student start-up, the starting point of the start-up ecosystem, is paying off. It can be seen that the youth entrepreneurship ecosystem based on university entrepreneurship education is in place. The university supports the entire business process from idea development, such as start-up classes, start-up club support, patent application support, prototype development support, and investment linkage. However, there is a university that develops and operates a unique program for each school and a university that does not. Therefore, it is necessary to develop an education program that can produce efficient results. The purpose of this study is to support the start-up program of the university to be the consumer-centered start-up support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.107-124
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• 2023

As getting in 4th Industrial Revolution Times, Continuing Education Enrolled Students(CEES) trying to find loophole for jepordized current life and need job transfer have surged their interest significantly on starting new business to bring up their post career after retirement through self-improvement. Government and university have actively initiated diverse policies of promoting startup for CEES in kicking off entrepreneurship courses and programs. However, relevant main policy, 'The 2nd University Startup Education Five-Year Plan (draft)' have too chiefly focused on theoretical start-up education rather than practical courses, causing the problem of inappropriate support for implementing real startup and business (Ministry of Education, 2018). This study is brought to empirically investigate the effect of self-efficacy as perspective of the impact of entrepreneurship education on entrepreneurial intention and behavior to come up with problem of poor entrepreneurial environment and entrepreneurship education to CEES. As to empirical research, this paper deliver on-line survey to CEES from September to October 2022, collect 207 effective feedbacks, In order to verify the reliability of the scale, the Cronbach's Alpha Coefficient (Cronbach's α) was calculated, analyzed, and measured. For hypothesis test, this paper utilize the multiple regression analysis statistical analysis method and use the SPSS 22.0 statistical processing program. Empirical results show, first, it was found that self-efficacy had a significant effect on start-up education. Second, start-up education had a significant effect on the intention to start a business of adult learners. Third, start-up education had a significant effect on the start-up behavior of adult learners. Fourth, self-efficacy had a significant effect on the intention of adult learners to start a business. Fifth, self-efficacy had a significant effect on the start-up behavior of adult learners. Sixth, self-efficacy had a mediating effect in the relationship between entrepreneurship education and adult learners' intention to start a business. Seventh, self-efficacy had a complete mediating effect in the relationship between start-up education and adult learners' start-up behavior. This paper is brought three significant implications. First, main consideration developing entrepreneurship education tools for CEES need to falls on defining potential needs of CEES as segmenting as to coming up with diversity of CEES's characteristics such as gender, age, experience, education, and occupation. Second, as to design specific entrepreneurship education program, both practical training program of utilizing CEES's career field experience benchmarking best practice startup and venture cases from domestic and global, and professional startup program of CEES initiating directly startup from ideation to develop business plan with pitching and discussing. Third, entrepreneurship education for CEES should be designed to incubate self-efficacy to enhance entrepreneurial intention of implementing entrepreneurial behavior as a real, eventually leading solid support system of self-improvement for CEES' Retirement life planning.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.275-281
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• 2022

This paper intends to provide a more effective understanding of the management performance (survival and growth) of startups and to suggest methods that can be applied to empirical research related to startups in the future. Therefore, in this study, the effect of entrepreneurship, trend analysis, and government support on business performance (non-financial and financial) is studied. A total of 220 questionnaires were received, and 215 were adopted except for 5 insincere questionnaires. Therefore, it was evaluated based on statistical data of 215 companies surveyed by startup officials. The questionnaire was analyzed using the SPSS 28.0 statistical program. The results of the study confirmed that all three items of the hypothesis, government support, entrepreneurship, and trend analysis of start-ups all play a positive role regardless of the difference in financial and non-financial management performance.