• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.43-55
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• 2019

Purpose : With the proliferation of O2O platform services that combine offline and online services, many startups are fiercely competing to lead services in the O2O service market. While the prospects for growth in the O2O service market are optimistic because of the close convenience to life, startups can achieve corporate performance only through close cooperation and partnership with suppliers. The purpose of this study is to verify the effect of O2O-based startups' and suppliers' cooperation in supply chain management on SCM performance through supply chain partnerships and startup satisfaction with suppliers. Research design, data, methodology : Data were collected from O2O service-based startups and hypotheses were verified through frequency analysis, exploratory factor analysis, reliability analysis, confirmatory factor analysis, feasibility analysis, and structural equation path analysis. In addition, the mediating effects of supply chain partnerships and startup satisfaction on suppliers were verified. Results : As a result of this study, IT utilization of the O2O startup cooperation method affects the financial perspective of supply chain partnership and SCM performance. The contract implementation of the cooperation method had an impact on the financial and innovation growth perspectives of the SCM performance, and the communication of the cooperation method had an effect on the supply chain partnership, startup satisfaction in the supply chain, and the innovation growth perspective of the SCM performance. Supply chain partnerships had an impact on the financial, innovation growth, and customer perspectives of SCM performance and startup satisfaction within the supply chain had a significant effect on innovation growth and customer perspectives. Conclusions : The implications of this study identified the factors that can improve SCM performance through the cooperation method of O2O startup, supply chain partnership and startup satisfaction with suppliers, and it is significant that the causal relationship was identified by the structural model through the supply chain cooperation factors derived by characteristics. Based on the empirical results, as the services of O2O startups grow, it is expected that empirical research and practical activation of academia should be considered as important in the cooperation of the supply chain.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.181-196
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• 2024

This study examines the impact of university graduate Startup rates on economic growth in the regions where universities are located, using panel data from 35 universities in 17 regions in Korea and 21 universities in 13 cities in China over a six-year period from 2016 to 2021. In Korea, a total of 35 universities were selected as part of the Ministry of Education's "University-initiated Startup" policy, including Startup-oriented universities, leading universities in Startup education innovation, Startup education bases, and excellent universities in Startup education, while in China, 21 universities were selected as part of the pilot bases established as part of the "Mass Entrepreneurship, Mass Innovation" policy. To analyze the economic impact of the universities on the regions where they are located, we aimed to conduct an empirical analysis of the economic impact using economic indicators of the economic growth rate of the regions where they are located. The results of the empirical analysis show that the Startup rate of university graduates in Korea and China both have a positive impact on the regional economic growth rate, but the Startup rate of local university graduates in Korea has a greater impact on the regional economy than in China. Based on the findings that the number of entrepreneurs produced by universities has a positive impact on the economic growth of their regions, this study draws implications for the role of universities and regions in revitalizing local economies and the establishment of systems to resolve the imbalance between metropolitan and non-metropolitan areas.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.22 no.11
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• pp.1495-1504
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• 2018

The Moon administration has proposed three major directions for startup growth: the creation of a new environment, active investment, and the creation of a virtuous cycle in venture investment. The policy is progressive but not sufficient to create a startup innovation boom in the current Korean economic environment. ICT Startup support policies must pay more attention to the product release stage. For growth of startups and small businesses it is important to establish a close value chain to secure competitiveness in the global market. It is necessary to secure a bridgehead to advance into the global market, including technical cooperation with large companies and joint advancement overseas. The final goal of the startup policy should be the continuous growth of the national economy and the expansion of employment. The establishment of fair trade and the strengthening of the startup ecosystem are important to foster a startup-friendly environment. Funding programs requires a shift from general support to enhanced choice and focus.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.127-135
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• 2020

The purpose of this paper is to classify individual startups by growth stage based on data-based quantitative criteria. This is to provide a basis for systematic support for government startups based on accurate statistics on the startup growth process. This startups were the TIPS (Tech Incubator Program for Startup) support company, which used a relatively reliable startup. We found seed money to complete MVP (Minimum Viable Product) within 1.5 years after establishment, verified PMF (Product-Market Fit) within 1 year, attracted Series A investment within 2.5 years after establishment, and successfully commercialized it. It attracted Series B investment for stable growth within 1.5 years (Series B investment within 4 years from start-up). The results of the study, the division of government programs that support stage-based startup commercialization, that is, within three years and within seven years of establishment, is significant to date. Three directions are suggested for future research. First, develop indicators for monitoring startup growth stages. Second, it continuously updates the annual changes and tracks the growth stages of individual startups. Third, we discover the successful growth law of technology-based startups by applying in-depth case analysis of successful startups to the model.

• 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.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.75-84
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• 2017

The prolonged economic slowdown has forced many youths to opt for starting a business instead of seeking employment. Universities have shown their interest in startup training by opening startup courses and encouraging relevant student communities, while at the same time helping their students land a job. Along with this, the government has been implementing various policies through creative economy and youth startup initiatives, but the resulting quantitative growth has not been supported by a commensurate level of qualitative growth and this has created problems on the supplier side, such as by producing redundant functions and roles in multiple projects and inefficient investment. This study, which aims at proposing a direction towards more active support and thus helping the government achieve qualitative accomplishments that can match its effort in terms of quantitative growth, analyzes the current status of startup support of universities in Korea by examining the data regarding training programs and projects, and highlights the issues stemming from startup organizations in colleges. It also suggests solutions for improving in-college startup training and establishing an interlinked system among the relevant bodies in and out of college, with the hope that the results and alternatives proposed in this study will be utilized as the basis for more active student startup support activities.

• Journal of Distribution Science
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• v.21 no.2
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• pp.35-43
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• 2023

Purpose: As Thailand seeks to become a regional startup hub, Thai startups have been acquiring growth and scalability in the last ten years. Hence, this paper examines influential factors in Thailand's growth of logistics tech startups. The conceptual framework incorporates sensing user needs, sensing technological options, conceptualizing, scaling, and stretching, co-producing, and orchestrating, business strategy, strategic flexibility, and startup growth. Research design, data, and methodology: The quantitative method was applied to distribute the questionnaire to 500 managers and above in logistics tech startups in Thailand. The sampling techniques involve judgmental, convenience, and snowball samplings. Before the data collection, The Item Objective Congruence (IOC) Index and pilot test (n=45) were employed for content validity and reliability. The data were mainly analyzed by Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM). Results: The findings revealed that sensing technological options, scaling, and stretching, co-producing, and orchestrating, and business strategy significantly influence the growth of startups in Thailand. Nevertheless, sensing user needs, conceptualizing, and strategic flexibility have no significant relationship with startup growth. Conclusions: For Thailand to accelerate its digital economy driven by tech startups, firms must emphasize influential factors to accelerate growth by providing the right tech solutions for people's lives.

• 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.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.1
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• pp.47-57
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• 2022

Purpose - Overall social entrepreneurship has a positive effect on the organization's C.S.R. and overall growth. This study aims to identify the effects of social entrepreneurship in startup companies on corporate social responsibility by identifying gaps in the literature and providing feasible solutions to the gaps. Research design, Data, and methodology - The qualitative content analysis that was conducted by this research takes the form of two research designs. The first step to conducting a conceptual content analysis is to choose the level of analysis, specifically words, phrases, word sense and the second step is the relational content analysis by choosing the concept to be examined, only that the analysis entails examining the relationships between concepts Result - According to the investigation of numerous previous literature review, the current authors found out total six solutions and the application of suggested solutions indicated that the use of innovative models, startup organizations can gain a competitive edge against dominant competitors in their industry of operations, Conclusion - Finally, the conclusion of this research indicates through the use of innovative solution models, startup organizations can gain a competitive edge against dominant competitors in their industry of operations and startup companies may range from an increase in reputation to growth in profitability and entrepreneurs' satisfaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.177-191
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• 2023

This study analyzes the types of linkages between major projects used by firms that attracted venture capital among firms that received government support in the field of SME startups. It identifies the types of linkages between support programs related to attracting venture investment and verifies the usefulness of integrated and cooperative support. The main findings of this study are as follows. First, Startup Success Packages, Startup Foundation Funds*, Youth Entrepreneurship Centers, and Training are the main programs used by startups and venture firms, and support-implementing agencies use these programs to provide support for each stage of growth. Second, the majority of startups and venture firms receiving policy support for job creation and manpower enhancement projects. Third, export-type growth companies receive continuous support from MSS, MOTIE, MSIT, and KIPO. Fourth, job creation programs drive the employment performance and creation of companies. Fifth, local government support projects tend to rely heavily on central government support programs. Sixth, growth companies in the startup and venture sector have a clear link to credit guarantee scheme by KIBO. These findings provide empirical evidence on the necessity and feasibility of integrated and collaborative support, and are expected to contribute to the direction of better support policies.