• Journal of Digital Convergence
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• v.17 no.12
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• pp.77-82
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• 2019

In this paper, we propose a new industry - university collaboration plan through the analysis of the present state of industry-academia cooperation and government support projects, and analysis of major overseas cases. The following is the plan for activating the new crop cooperation. First, it is necessary to strengthen the innovation of education system and establishment of new education course based on future demand through future-oriented industry-university cooperation. Second, active industry-academia cooperation should stimulate entrepreneurship education and entrepreneurship based on university resources. Third, it should act as an anchor of regional innovation by actively cooperating with local innovation entities. It is necessary to develop an industry-university cooperation model that can generate profits and contribute to university finance.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.8 no.10
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• pp.251-259
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• 2018

This study is to understand the entrepreneurship of youth and entrepreneurship education of youth, to examine the characteristics of entrepreneurship education of youth between South Korea and United States. And entrepreneurship is also the process of creating a new organization, which is understood as a process by an individual and a group of entrepreneurs who possess qualities and abilities with social opportunities, and move them into action and practice. There is a need for a comprehensive entrepreneurial mentality training and execution center for youth. To discussion social changes between South Korea and United States. The United States uses Junior Achievement ASK model. In contrast, South Korea through systematic and proactive education development, but due to the lack of standard founding education content. Therefore, it presented the need for professional institutions for comprehensive entrepreneurship education and operation. Korea is not well organized with the lack of standard start-up education contents, so it is urgent to develop and distribute education actively. Although the United States has been leading education at the national level, foundations are conducting education more actively.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.91-101
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• 2019

Tourism or travel business consists of a set of services for people who visit exotic places. Payment is usually marking the end of the series of activities relating to tourism, and it becomes the linkage for the next activity. With the recent advancement of mobile Fintech technologies, we have learned that more convenient and more secure financial transactions are improving the quality of tourism. It should be noted that tourism counts on information technology heavily in terms of mobile Internet and smart devices use, which yields to a wide business opportunities for Fintech startups. However, payment information has not been highlighted for additional marketing promotion activities. The lack of research into information technology-based business models that extend Fintech services related to payment in venture start-up studies hinders the understanding of the possibility of creating new business through the value creation process after payment. This study attempts to investigate this issue based on the theory of smart tourism and service-dominant logic with developing a new information system. More specifically, marketing promotion activities after payment for Chinese tourists visiting Korea are examined. Specifically, WeChat Pay and instant tax refund service were considered while the system was developed by following desing science research methodology. This study is meaningful in that it finds a new possibility of Fintech business model by applying scientific and academic methods, and it reminds the necessity of service automation system centered on instant tax refund.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.127-142
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• 2022

According to social change, entrepreneurship education at university is drawing attention as a means to cultivate convergent creative competency required by the times. Currently, the number of entrepreneurship education at university is increasing every year, and quantitative expansion is taking place, but quality advancement of education remains a task. In this context, this study conducted an action research with the aim of revitalizing entrepreneurship education and upgrading quality, and developing a entrepreneurship education program suitable for general elective courses operated by universities. In the process of the study, first, through literature analysis related to entrepreneurship education at university, educational contents and teaching methods of entrepreneurship education were confirmed. Based on this, the IPA analysis was used to analyze the educational needs of students for entrepreneurship education contents and design a program that reflects this. The designed program was applied and operated to the entrepreneurship education of A University, and improvements were derived and improved by analyzing the opinions of learners in the action research process. The entrepreneurship education program developed through this study was composed as follows. The necessity of entrepreneurship education at the beginning of the lecture is sufficiently presented, and the knowledge necessary for start-up, including idea discovery and business model design, is delivered through theoretical lectures by teacher-centered method. In the second half of the lecture, students with similar interests are gathered into teams and learner-centered practical activities are operated. The contents of the activities include information on idea discovery, business model design, business plan and pitching. Practical activities for each team are conducted during class hours, and the professor advice on difficulties for each team.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.55-69
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• 2021

For the national economic development, the participation of women in the social and economic activities is crucial. The popularization of start-ups, digital transformation, and WEconomy trends have lowered the barriers to opportunities for women to start a business and provide an environment in which women can grow faster. This paper examines the significance and process of success of women entrepreneurs and the characteristics of innovation strategies and achievements by linking the recently changing business environment of a company, factors influencing the success of women entrepreneurship, and innovation activities. To this end, four companies' cases were analyzed in the fields of distribution/service and consumer products/services, which are areas of large investment among female startups. The result shows that women entrepreneurs recognize the meaning of success as creating and continuing to create a 'corporate value through establishing a trust relationship with customers' within the 'balance between personal life and work.' In terms of the business ecosystem, women entrepreneurs strive for 'business activities based on the win-win growth of consumers, producers and sellers' for success, and rather 'focus on the process with a problem-solving approach' rather than achieving performance-oriented goals. Also through excellent power of observation, flexibility, and execution power, women entrepreneurs conduct business by adapting to changing trends. In terms of innovation activities, the innovation strategy of women-led companies puts priority on 'creating the value customers want' and focuses on innovation in the 'customer-centric business model' rather than technological innovation. As such, women-led companies show several differentiated characteristics, which enable them to create corporate value and achieve sustainable growth. The barriers to challenges and opportunities for women to start a business have been lowered, and an ecosystem has been created for female startups to grow. But why are there still so few women entrepreneurs, and the answer to where we need to close these gaps is ultimately a close analysis and investigation of the field. We must present milestones for growth steps through the accumulation of case studies of women startups that have exited. In addition, women can stand as economic agents only when the policy targets are subdivided and specific approaches to child-rearing and childcare for women entrepreneurs must be taken. This paper expects to serve as basic data for follow-up studies and become the basis of research for women entrepreneurs to grow as economic agents.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.1-26
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• 2020

The term 'Unicorns' in the corporate ecosystem was firstly introduced by Aileen Lee in 2013. It has been actively discussed in South Korea particularly to compare the level of the 'start-up ecosystem' from a global perspective. Accordingly, the Korean government has recently set a policy goal 'to nurture 20 Korean unicorn companies by 2022'. While the phenomenon of 'Unicorn Club Company' has been brought to the level of policy objectives and spread more widely to the public, existing academic research to understand its substantial and underlying implications has been insufficient. First, in this study, the characteristics of 479 'Unicorn Club' companies in 2019 were analyzed in-depth. Previous research has focused on the general status and trend by analyzing the number of unicorn companies by country and industry classifications. However, this study conducted a qualitative exploratory analysis by investigating descriptive statistics about unicorn companies, including their investors, while providing case studies. Also, cluster analysis, ANOVA, and multi-level regression were employed for quantitative exploration. The characteristics of individual companies were examined based on the "ERIS Model (Entrepreneur - Industry(Market) - Resource - Strategy Model)". Secondly, factors influencing its valuations were examined in connection with the previously analyzed characteristic variables and investor characteristics. Finally, based on these, the future direction of the "Unicorn Phenomenon" from the perspective of "Enterprise Ecosystem" and productively using it from the perspective of the public policy is suggested.

• Korean small business review
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• v.42 no.4
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• pp.47-67
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• 2020

This study analyzed the papers provided by Asia Pacific Journal of Small Business (APJSB) for 40 years. The purpose of this study is looking at the research trends about small and medium business. We tried to identify some stream and feature without manipulation. Textmining and Frequency analysis are executed on topics of every published paper in APJSB to 2019 from 1979. The result suggest that important keyword and feature of research topics in APJSB. And the result show the period feature as well as the whole of research trend in APJSB for 40 years. Futhermore, we suggest some implications derived from the results by adapting business ecosystem model and business managerial system model.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.51-78
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• 2021

Followed by 'start-up', the theme of 'scale-up' has been considered as an important agenda in both corporate and policy spheres. In particular, although it is a term commonly used in industry and policy fields, even a conceptual definition has not been achieved from the academic perspective. "Corporate Growth" in the academic aspect and "Business Growth" in the practical management field have different understandings (Achtenhagen et al., 2010). Previous research on corporate growth has not departed from Penrose(1959)'s "Firm as a bundle of resources" and "the role of managers". Based on the theory and background of economics, existing research has mainly examined factors that contribute to firms' growth and their growth patterns. Comparatively, we lack knowledge on the firms' growth with a focus on 'annual revenue growth rate'. In the early stage of the firms, they tend to exhibit a high growth rate as it started with a lower level of annual revenue. However, when the firms reach annual revenue of more than 100 billion KRW, a threshold to be classified as a 'middle-standing enterprise' by Korean standards, they are unlikely to reach a high level of revenue growth rate. In our study, we used our sample of 333 companies (6.7% out of 5,000 'fastest-growing' companies) which reached 15% of the compound annual growth rate in the last three years with more than USD 100 million. It shows that sustaining 'high-growth' above a certain firm size is difficult. The study focuses on firms with annual revenue of more than $100 billion (approximately 120 billion KRW) from the 'Inc. 2020 fast-growing companies 5,000' list. The companies have been categorized into 1) Fast-growing companies (revenue CAGR 15%~40% between 2016 and 2019), 2) Hyper-growing companies (40%~99.9%), and 3) Super-growing (100% or more) with in-depth analysis of each group's characteristics. Also, the relationship between the revenue growth rate, individual company's strategy choice (market orientation, generic strategy, growth strategy, pioneer strategy), industry/market environment, and firm age is investigated with a quantitative approach. Through conducting the study, it aims to provide a reference to the 'Hyper-Growing Model' that combines the paths and factors of growth strategies. For policymakers, our study intends to provide a reference to which factors or environmental variables should be considered for 'optimal effective combinations' to promote firms' growth.

• Journal of Digital Convergence
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• v.12 no.6
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• pp.13-22
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• 2014

This study analyzed the globalization policy of ICT SMEs and ventures using cognitive map analysis and derived the priority to importance about action plans using AHP model, while the globalization paradigm has been rapidly changing in the ICT industry. Empirical results showed that policy tool variables should be needed to develop because policy goal variables are generally presented more than policy tool variables. In addition, this cognitive map could be characterized by a scarcity of feedback loops which means policy landscape for ICT SMEs and ventures' globalization is unilateral rather than cyclical to reach policy goal from policy tools. Another finding is that creative economy policy variable was not observed as policy tool variable but as policy goal variable. This means creative economy can be implemented through support for ICT SMEs and ventures' globalization. Finally, for detailed policy measures, installation of global start-up center, recruiting and utilization of global specialists, revitalization of ICT R&D international collaboration study, enlargement of global investment network, accompanied overseas advance of large enterprises and SMEs are presented in order in terms of the importance of policy priority.

• 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.