• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.173-180
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• 2014

In this research, we aim to analyze how different external knowledge search strategies of small and medium enterprises affect technological innovation. In particular, since there has been little comparison between Korean small and medium firms, we investigated the differences of the two groups by employing the "Korean Innovation Survey 2010." As a result, it was found that "external search breadth", which refers to expanding the spectrum of external knowledge search due to lack of resources and capabilities inside small firms, spurred technological innovation. On the other hand, "external search depth", which implies seeking a long-term and close relationship with the subjects that provide outside knowledge for medium firms, catalyzed technological innovation. These results emphasize that we need to separately analyze technological innovation of small and medium firms, which was, in most previous studies, viewed as one group, i.e. SMEs. In addition, the results can be, from the perspective of a firm's growth, interpreted as follows. That is, it is more effective to formulate a "diversity" pursuing strategy in the "small firm" stage where little time has passed since its establishment, whilst it is more useful to apply a "focus" strategy on sophisticated knowledge in the "medium firm" stage where a firm has grown to some extent.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.1
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• pp.33-44
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• 2015

This study reviews technological innovation to examine science, technology, and innovation (STI) policies and strategies for academy-industry cooperation for innovation and entrepreneurship in Daejeon. STI policy in Daejeon is based on a vision that harmonizes regional and national policies at a regional level, fostering of a key innovation cluster and strategic industries in Daejeon, and a new growth engine of converging industries such as information technology (IT), biotechnology (BT), and nanotechnology (NT). This paper proposes the following: First, considering the harmony of national and regional policies, STI policy should be promoted at the regional level considering venture and SMEs. Second, we recommend nurturing a global innovation cluster as part of a regional STI and venture ecosystem. This will support the region of Daejeon as the heart of a global innovation cluster by having Daedeok Innopolis and the International Science and Business Belt as its two major axes. Third, we recommend strengthening academy-industry cooperation in Sejong and other regions.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.145-155
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• 2020

In this study, the purpose of the study is to derive the relationship between factors affecting the establishment of start-up companies, technical innovation performance, and technology commercialization, and to confirm the effects of start-up factors and technology commercialization on the technological innovation performance based on the analysis. For this research, a survey was conducted on employees aged 20 or older who were employed in large national enterprises or medium and small-sized enterprises, etc. and the results of the empirical analysis were as follows. Firstly, the factors influencing start-ups were found to have a significant impact on the technology commercialization(manufacturing capacity, producing capacity). Secondly, technology commercialization had a significant impact on the technological innovation performance(business performance, customer performance), and thirdly, technology commercialization had a partial mediating effect in the relationship between start-up factors and technical performance. This study confirmed that the factors of start-up, technology commercialization, and technological innovation performance have statistically significant impact relations, and further research on start-up factors and technology commercialization is necessary for the technological innovation and creation of companies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.95-108
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• 2021

Technology innovation activities are very important for companies to secure technological competitiveness and continue to grow. Korea operates a certification system at the national level to promote corporate innovation activities, and strives to enhance SMEs' global technological competitiveness. Among these, the representative system related to technological innovation is the New Excellent Technology (NET) certification. NET is certified through a strict three-stage screening process, and is operated for the purpose of commercialization of new technology, technology trading, and promotion of early market entry by companies. Acquiring NET certification means that the company has a certain level of technological competitiveness. Therefore, this study attempted to conduct an empirical analysis on which technology innovation activities of companies affect the success of R&D projects and improvement of management performance, centering on NET certification system. To verify this, technology strategy, technology planning, systematic R&D process, internal cooperation, and external cooperation activities were set as major variables. As a result of the empirical analysis, it was confirmed that all variables set in this study individually contributed to the success of the R&D project and improvement of management performance. However, when looking at a comprehensive level that considers all variables, it was analyzed that systematic R&D process management and cooperation activities with external organizations have a statistically significant effect on R&D project success, and technology strategy establishment and technology planning activities, which are the initial stages of R&D, have a statistically significant effect on management performance. This study was conducted on innovation-oriented SMEs that have established and operated corporate R&D centers and are actively conducting R&D activities, and multiple regression analysis was used as an analysis method.

• World Technopolis Review
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• v.4 no.1
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• pp.11-22
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• 2015

Globalization, increasing technological advancements and dynamic knowledge diffusion are moving our world closer together at a unique scale and pace. At the same time, our rapidly changing society is confronted with major challenges ranging from demographic to economic ones; challenges that necessitate highly innovative solutions, forcing us to reconsider the way that we actually innovate and create shared value. As such the linear, centralized innovation models of the past need to be replaced with new approaches; approaches that are based upon an open and collaborative, global network perspective where all innovation actors strategically network and collaborate, openly distribute their ideas and co-innovate/co-create in a global context utilizing our society's full innovation potential (Innovation 4.0 - Open Innovation 2.0). These emerging innovation paradigms create "an opportunity for a new entrepreneurial renaissance which can drive a Cambrian like explosion of sustainable wealth creation" (Curley 2013). Thus, in order to materialize this entrepreneurial renaissance, it is critical not only to value but also to actively employ this new innovation paradigms so as to derive community-driven shared value that stems from global innovation networks. This paper argues that there is a gap in existing business incubation model that needs to be filled, in that the innovation and entrepreneurship community cannot afford to ignore the emerging innovation paradigms and rely upon closed incubation models but has to adopt an "open incubation" (Ziouvelou 2013). The open incubation model is based on the principles of open innovation, crowdsourcing and co-creation of shared value and enables individual users and innovation stakeholders to strategically network, find collaborators and partners, co-create ideas and prototypes, share their ideas/prototypes and utilize the wisdom of the crowd to assess the value of these project ideas/prototypes, while at the same time find connections/partners, business and technical information, knowledge on start-up related topics, online tools, online content, open data and open educational material and most importantly access to capital and crowd-funding. By introducing a new incubation phase, namely the "interest phase", open incubation bridges the gap between entrepreneurial need and action and addresses the wantpreneurial needs during the innovation conception phase. In this context one such ecosystem that aligns fully with the open incubation model and theoretical approach, is the VOICE ecosystem. VOICE is an international, community-driven innovation and entrepreneurship ecosystem based on open innovation, crowdsourcing and co-creation principles that has no physical location as opposed to traditional business incubators. VOICE aims to tap into the collective intelligence of the crowd and turn their entrepreneurial interest or need into a collaborative project that will result into a prototype and to a successful "crowd-venture".

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.85-98
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• 2018

This study aims to investigate the effects of venture & inno-biz companies' technological innovation competences on technological performances and economic competitive advantage, using VRIO framework. The empirical data for this study were based on the technology assessment results of Korea Technology Finance Corporation (KOTEC) on 3,462 venture & inno-biz companies and the following 2 years' financial data. Sample companies with technological innovation resources, such as technology management strategy(Value), differentiation of technology(Rarity), imitation difficulty of technology(Imitability) and technical organization capability(Organization), made efforts to expand their intellectual property rights, technological development and commercialization of new products, thereby ensuring technological competitive advantage. Furthermore, technological competitive advantage were proved to improve sales growth, increase in operating revenue, and financial soundness. Compared with four VRIO factors' influence on business performance, imitation difficulty of technology(Imitability) and organization technological capability(Organization) had much more influence than any other internal resources or capabilities respectively.

• The Journal of Economics, Marketing and Management
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• v.7 no.3
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• pp.13-28
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• 2019

Purpose - The purpose of this study is to analyze the start-up factors in start-up tourism companies and to analyze how these factors influence business performance. This study will be conducted for the further exploratory study with in-depth research with literature reviews, interviews and surveys. Research design, data, and Methodology - The activation of entrepreneurship is very important factor as for not only the development of entrepreneurship which is the characteristic of the innovative and risks-taking for the success of the enterprise, but also the sustainable growth and creation of performance of the entrepreneur. In other words, if it is the entrepreneurial spirit affects entrepreneurship, it is entrepreneurial orientation that continuously affects entrepreneurs. In order to achieve the above purposes, this study conducted literature research and empirical studies. Result & Conclusions - The sub-factors for independent entrepreneurial variables' orientation are classified as creativity, technological, enterprising, and innovation, and subordinate variables were set of management performance. The sub-factors of the control variable government support policy are classified as financial support, consulting support, and marketing support. For the purpose of empirical analysis, this paper collects data on companies selected for tourism venture business competition and CEOs of SMEs tourism for less than 7 years.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.101-121
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• 1998

Recent entrepreneurship studies emphasize the importance of entrepreneurial activities of entrepreneurs. This study focuses entrepreneurial behaviors, especially entrepreneurial networking activities of Korean high-tech ventures. Networking activities can utilize external resources which are critical to success, with less resource commitment. This study examines the relationship between characteristics of entrepreneurial networking and performance, and analyses influencing factors of entrepreneurial networking activities. Based on the data from 55 new high-tech ventures in Korea, hypotheses that the characteristics of entrepreneurial networking are related to the performance of new high-tech ventures are tested using regression analysis and t-test. Major findings of this study are as follows: (1) entrepreneurial networking are related to the performance of new high-tech ventures, (2) significant differences are found in the characteristics of entrepreneurial networking between high- and low-performance firms, (3) characteristics of entrepreneurs and firm' technological capabilities are related to the degree of entrepreneurial networking activities. Finally, managerial and policy implications of the study are presented and future research directions are also suggested.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.79-89
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• 2016

FDI has been considered as a source of competitive advantage by bringing scientific and technological innovation capabilities to domestic firms via organizational learning. Acquiring knowledge and technology by learning accelerates firms to be innovative. In the way of innovation, firms seek for innovation as a whole but innovation can be clarified as two different parts, product and process innovation. Different from product and process innovation, organizational innovation is not directly related to productivity or outcome but it is closely related to product and process innovations. As a kind of firm innovation, organizational innovation may be considered as preceding product and process innovation and it may positively mediate the relationship between in-bound FDI and firms' product and process innovations. In this paper, the relationship between FDI and product and process innovation will be explained by organizational learning and the way of organizational innovation affects to the relationship will be examined.

• World Technopolis Review
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• v.4 no.3
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• pp.132-143
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• 2015

In the 21st Century, scientific discovery and technological development are fueled by unprecedented changes in knowledge, societal needs and wants, engineering designs, materials, and instrumentation. Such rapid global changes pose major opportunities and challenges for the innovation ecosystem-especially in developing countries. In particular, our models for human resource development and engagement must evolve so as to better prepare leaders in higher education institutions, research institutes, science cities and science parks, businesses and industries, and governments. Universities throughout the world must play a greater role in both the research and practice of human resource development and engagement for the knowledge-based and creative economies. This paper explores the current and potential talent development and talent engagement dimensions of universities in economic development, and research and practice in education and policy-with implications of such dimensions for science cities/science parks. The paper highlights the importance of a greater role for universities, in collaborating with business/industry and governments, in examining new economics-sensitive and values-sensitive models for education and human resource development so as to better understand and support innovation in global contexts.