• Korean Business Review
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• v.21 no.1
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• pp.91-117
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• 2008

Since the late 20th century, due to the globalization of markets and the rapid developments of information and communication technologies, the world has entered into the age of fierce competition. With their abundant low-cost labor, former communist countries such as China, Russia and East Europe and former low-developed countries such as India and Brazil have received foreign investments from major industrial companies. Thus, there are no other alternatives remained for Korea and OECD countries other than moving the industrial economies to the knowledge based innovation systems. In the knowledge based innovation systems, economic developments and employments of regions and nations depend solely on companies situated in their territories. In this article, after reviewing the current state of technological based innovation small firms in korea, we provide a theoretical framework to promote the level of technology based innovation and entrepreneurship. The theoretical framework for analysis and policy suggestions is based on the Schumpeter's value system model that consist of supply factors, demand factors, and supporting institutions. In order to create more innovative small businesses, we insist on the followings. First, more R&D and innovation activities related with promising new technologies should be performed. Second, more R&D funds for technological innovation small companies should be provided from governments. Third, more M&A transactions and technology transactions should be marketed freely and competitively. Fourth, more business incubating services and venture capital services should be provided. Fifth, entrepreneurship and innovation culture should be popular and institutionized among people.

• World Technopolis Review
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• v.1 no.2
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• pp.92-106
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• 2012

This study focuses on exploring the behaviours of high-tech start-up firms in response to the policy interventions undertaken to promote regional innovation in South Korea since 1997. High-tech start-ups and their technological entrepreneurship are increasingly considered by policy makers and academics to play a crucial role in the generation of innovation and economic development. However, this study started from a basic concern of why government intervention does not necessarily result in an increase of regional innovation capacity. To explain this concern, we constructed a new conceptual framework of 'government dependency' and apply this to 'Daedeok,' a regional innovation system in South Korea, to explore the reproduction of path dependency as an impact induced by innovation policy. This conceptual framework was developed by remodeling path dependency approaches through a systemic and interactive lens. An empirical study used qualitative interviews of start-up founders to delineate the emergence of a new development path and the extent to which dependency was reproduced in the Daedeok regional innovation system. Empirical analysis suggested that 'reliance' and 'persistence' were the crucial factors in the production and reproduction of the government dependency. Some firms accepted dependency as reliance, but others regarded it as policy utilization. Thus, a critical juncture could not be clearly identified in actors' behaviour. It was also unclear if dependency had hindered innovation, but it was shown that the regional and institutional contexts strongly influenced the reproduction process. The study concludes that the construct of government dependency can also provide useful insights into policy learning as well as the success of government interventions.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.35-45
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• 2012

This study empirically analyzed how technological innovation performance of venture business is affected by utilization of external resources, especially utilization of external cooperative network, government's policy funds and venture capital funds, using '2008 Venture Business Investigation'. This study further analyzed how the effect of utilization of external resources on technological innovation performance varies according to growth stage. Analysis results show that all variables related to utilization of external resources, i.e. external cooperative network, government's policy funds and venture capital funds, were observed as affecting positively to technological innovation performance. However, adjustment effect was not observed as statistically meaningful according to growth stage of venture business. Further analysis just observed that the effect on technological innovation performance at each growth stage varies according to type of utilization of external resources.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.173-186
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• 2024

This paper analyzes a case of successful faculty entrepreneurship through a coupled process of open innovation in a university context, using the core competency theory perspective. Initially, the current state of faculty entrepreneurship is examined, and the effects of interdisciplinary coupled processes of open innovation are explored, focusing on the case of 'Omotion Inc.,' a startup utilizing generative AI technology for hyper-realistic 3D virtual human experiences. The research methodology involves in-depth interviews with Omotion Inc.'s co-founders, technology commercialization professionals, and experts in the field, followed by analysis based on foundational theories. Applying the core competency theory, this paper scrutinizes the process of integrating diverse expertise and technologies from various academic disciplines. The analysis goes beyond the limitations of faculty entrepreneurship confined to a single technology-centric research domain. Instead, it explores the possibilities of enhancement and value creation through coupled processes, providing practical implications for the university entrepreneurial ecosystem. The aim is to extend the traditional roles of education and research within the university, presenting a role in economic value creation beyond the boundaries of conventional faculty entrepreneurship. Through the collaboration of two faculty members, this study showcases the creation of novel technology and business models. It establishes that successful coupled processes of open innovation in faculty entrepreneurship, from a core competency theory perspective, require the entrepreneurial firm to possess (1) entrepreneurial capabilities, (2) technological capabilities, and (3) networking capabilities. The implications of this research highlight the positive impact of coupled processes of open innovation in faculty entrepreneurship, as evidenced by the Omotion Inc. case, offering guidance on entrepreneurial directions for university members preparing for entrepreneurship.

• Journal of Korea Technology Innovation Society
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• v.14 no.3
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• pp.431-465
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• 2011

Focusing on open innovation which is regarded as an important framework for strengthening technological innovation capabilities, in this study empirical analysis is conducted on Korean manufacturing companies, particularly based on the survey results of 149 domestic manufacturing companies that carry out innovation activities in order to identify influence factors for open innovation activities. Analysis on the influence factors of open innovation activities categorized into characteristics of environment, firm-specific characteristics, and characteristics of institutions revealed that characteristics of environment in terms of the degree of market competition and technological changes influence outside-in open innovation activities. Such results suggest that companies respond to increased market competition or technological changes by promoting research and development (R&D) and maintaining or acquiring market competitiveness through introduction of external technology and utilization of external information by means of research collaboration, user innovation, and so on. In terms of firm-specific characteristics, outside-in open innovation activities are influence by R&D personnel, R&D investment, number of international business, export, and openness of corporate culture while inside-out open innovation activities are influenced by characteristics of international organization and CEO's capabilities. In order for companies to strengthen outside-in open innovation activities emphasis on research personnel, R&D input factors such as research funds are necessary whereas to increase inside-out open innovation activities organization solely responsible for international affairs should be established while the CEO needs to focus on open and cooperative entrepreneurship rather than internal technological innovation activities. In terms of characteristics of institutions, outside-in innovation activities are influenced by technological networking whereas inside-out innovation activities are influenced by networking for development of technology and the presence in industrial cluster. This means that the government needs to establish industrial clusters and try to expand technological networking to facilitate open innovation activities.

• Journal of Technology Innovation
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• v.20 no.2
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• pp.75-107
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• 2012

Previous researches on technological innovation have several limitations such as lack of general mechanism for technological innovation(inputs, throughputs and outputs of technological innovation), large company oriented studies, and ignoring importance of technology management capabilities. So, this study suggested a new model using resource-based theory and system theory, and empirically applied that to SMEs. Structural equation model analysis by using 223 SMEs in Daegu region provided a support for most of hypotheses. Research results showed that all of factors on technological innovation were significantly and positively related with each other: inputs(R&D leadership, innovation strategy, R&D investment, R&D human resource management, external network), throughputs(portfolio management, project management, technology commercialization) and output(technological innovation). In case of technological innovation inputs, R&D leadership influenced on innovation strategy positively and significantly. And R&D leadership and innovation strategy had positive and significant effects on R&D investment, R&D human resource management and external network. R&D human resource management and external network exerted positive and significant influences on technological innovation throughputs such as portfolio management and project management. But R&D investment did not significant impacts on technological innovation throughputs. Among technological innovation throughputs, both portfolio management and project management had positive and significant effect on technology commercialization. In addition, technology commercialization acted positively and significantly technological innovation output. This study suggests necessary of efforts to implement innovation strategy and manage R&D human resource effectively based on CEO's innovativeness and entrepreneurship. Also, if SMEs want to develop technology and commercialize it, they have to cooperate with external technology resources and informations. Research results revealed that proper level of R&D investment, internal and external communication, information sharing, and learning and cooperative culture were very important for improvement of technological innovation performance in SMEs. Especially, this research suggested that if SMEs manage technological innovation process effectively based on resource-based and system approaches, then they can overcome their resource limitations and gain high technological innovation performance. Also, useful policy support for technological innovation of central or regional government by this research model is important factor for SMEs' technological innovation performance.

• Journal of Digital Convergence
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• v.14 no.7
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• pp.363-371
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• 2016

Technology evaluation for technology innovation of venture firms should take the rapidly changing corporate environment, the ambiguity of language used in evaluation, and the inaccuracy of evaluation index into consideration. In this paper, targeting the absorptive capacity and technological entrepreneurship which are typical evaluation factors of venture firms, an ACTEM model to calculate the importance, priority, and dynamic capability of factors, applying Fuzzy-AHP was proposed. The fuzzy theory was introduced to compensate for the ambiguity of cognitive judgments when calculating weighted values for the factors that made up an assessment scale. An assessment criteria framework for absorptive capacity, technological entrepreneurship, and dynamic capability, which were not considered in previous studies on the evaluation and measurement of technological prowess, so that the users could have a realistic alternative to choose. The study compared the ACTEM model with the old AHP assessment method and found that "knowledge acquisition" and "producing ability" were the highest in absorptive capacity and technological entrepreneurship, respectively, thus demonstrating its validity.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.91-100
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• 2018

Small and medium enterprises (SMEs) endeavor to overcome the adverse resource conditions and secure competitive advantage through technological innovation capability. Prior studies have focused on the overall or specific dimensions of technological innovation capability, and examined their performance impact. However, there has been less scholarly attention on the dynamic characteristics such as the relative importance of technological innovation capability or its performance impact at the different growth stages of a firm. In this vein, this study investigates the relationship between SME innovation capability and innovation performance at each growth stages of a firm. Based on the empirical analysis of manufacturing SMEs in Korea, we found that all dimensions of technological innovation capability had positive effects on innovation performance. However, each dimension of technological innovation capability had different effect on innovation performance by the growth stages. The planning capability can improve innovation performance at the growth and maturity stages. Manufacturing capability can have positive effect on innovation performance at the maturity stage. Both of new product development capability and commercialization capability contribute to innovation performance at all of the growth stages. This study suggests the guidelines for enhancing technological innovation capability at the different growth stages of SMEs. It also provides policy implications for the design and operation of growth-stage specific programs. Finally, the limitations of the research and future research directions are presented.

• Journal of Distribution Science
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• v.12 no.5
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• pp.93-107
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• 2014

Purpose - The pool of entrepreneurs with progressive qualities such as creativity and innovation was considered concurrently with such factors as work and capital that stimulate economic development and growth. This study aims to present a model to support the development of a strategic approach for achieving an overall academic entrepreneurship system in Iran. Research design, data, and methodology - The research design of this study is based on applied research because of its objectives, using principles and techniques formulated for basic research to solve operational and real organizational issues. This design also drives the method used, describing and interpreting the findings. Secondary data (library research) was used for this study's data collection. Because of this research's essential characteristics, no hypothesis is launched, and no research setting, questionnaire design, population or population sampling, validity or reliability tests, or statistical analysis are needed. Results and Conclusions - The model is created using a strategic approach acting in an octal setting comprising social, cultural, legal, economic, political, technological, competitive, and natural environments to present a conceptual framework for future studies.

• Proceedings of the Technology Innovation Conference
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• 1998.06a
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• pp.91-115
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• 1998

Inspire of increasing importance of entrepreneurs for successful new venture creation, structured educational programs for entrepreneur development are very limited in Korea. Based on the survey of existing academic programs and interviews with entrepreneurs, this study presents a new education system for entrepreneurial management and new venture creation. Specifically, seven venture educational programs are suggested. As degree programs, ⅰ) new venture interdisciplinary program and ⅱ) venture MBA program are presented. Also, ⅲ) advanced venture management program, ⅳ) venture capitalist training program, and ⅴ) potential entrepreneur training program are suggested as non-degree programs. In addition, special and supporting programs such as ⅵ) technological entrepreneurship seminar and vii) new venture forum are explained. Finally, some examples of typical entrepreneurial management courses are presented and policy implications are suggested.