• Asian Journal of Innovation and Policy
• /
• v.11 no.1
• /
• pp.30-49
• /
• 2022

As industrialized countries transition into knowledge economies, there is a rising demand for talent and innovation. Support for start-ups through incubation, acceleration, and venture capital has turned into a key area of investment, with public and private actors searching for the next unicorn. This article examines start-up visas as an emerging policy tool in the global competition for highly innovative entrepreneurs. The study builds on a sample of eight national start-up immigration programs and applies human-capital citizenship (Ellermann, 2020) as a guiding framework. The article first proposes a conceptualization of start-up visas, suggesting that innovation and entrepreneurship also be considered in the theorization of skills. Second, the study examines the implications of start-up visas for international mobility. By focusing on the logic of entry requirements and subsequent benefits accrued through the status as a start-up founder, the findings of this study highlight the role of start-up visas in expanding privileged pathways to cross-border mobility. The article concludes with a discussion of implications for policy and research concerned with the international mobility of start-ups

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.3
• /
• pp.1-17
• /
• 2020

The Fourth Sector has been attracting attention as a means to solve the various problems plaguing modern society; it emerged to overcome the Third Sector's issues such as excessive reliance on the government and service model isomorphism, represented by social economy enterprises (Meadows, 1972; Howaldt & Schwarz, 2010). Social venture companies have been mentioned as key agents of the Fourth Sector (Gyeonggi Research Institute, 2018). However, the academic and policy concepts related to social ventures continue to be vague. Therefore, this study aims to clarify the concept of social ventures as part of the Fourth Sector, and research development strategies for the vitalization of the social venture ecosystem in an effort to encourage inclusive growth of society. To achieve these goals, it establishes the concept of social ventures differentiated from the Third Sector, based on previous studies, and presents the importance of an intermediate support organization for the ecosystem's vitalization. Furthermore, to propose strategies for said vitalization, the study derives detailed forms of social venture intermediate support organizations, and provides suggestions regarding their importance and roles through social innovation levels.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.16 no.6
• /
• pp.31-42
• /
• 2021

The importance of startups and ventures in the Korean economy is growing. This study measured whether the start-up and venture ecosystem is growing, including the growth of startups and ventures. The startup and venture ecosystem consists of startups and ventures, investors, and government, which are the main actors of the 'ecosystem', and their movements were measured with 25 quantitative indicators. Based on the original data of the time series from 2010 to 2020, the startup and venture ecosystem index was calculated by applying weights through the comprehensive stock index method and AHP. In 2020, the startup and venture ecosystem grew 2.9 times compared to 2010, and the increase in the government index had a significant impact on growth. Also, the individual indicators that make up each index in 2020, the corporate index had the greatest impact on the growth of the number of 100-billion ventures, while the investment index had a recovery amount and the government index had a significant impact. Based on the original data, the startup and venture ecosystem index was analyzed by dividing it into ecosystems (startup ecosystem and venture ecosystem), industry by industry (all industries and manufacturing industry), and region (Korea and Busan). As a result, the growth of the startup ecosystem over the past decade has been slightly larger than that of the venture ecosystem. The manufacturing was lower than that of all industries, and Busan was lower than that of the nation. This study was intended to use it for the establishment and implementation of support policies by developing, measuring, and monitoring the startup and venture ecosystem index. This index has the advantage of being able to research the interrelationships between major actors, and anyone can calculate the index using the results of official statistical surveys. In the future, it is necessary to continuously update this content to understand how economic and social events or policy support have affected the startup and venture ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.6
• /
• pp.11-27
• /
• 2019

The second venture "boom" diffusion strategy can be confirmed to be focused only on financing investment and finance, including achieving 5 trillion won annually in new venture investments, creating 20 unicorns, activating M&As and creating dynamic recovery markets. Of course, existing studies show that the fund is a very important policy for corporate growth, but various policy support will be needed to effectively scale up. To overcome these limitations, the scale-up support policies already in operation are analyzed by introducing scale-up policies in advanced countries such as the U.S. and Britain. It also aims to analyze domestic scale-up policies to draw up implications for establishing more effective scale-up policies. Academically, we are very lacking in research on scale-up at home and abroad, and we propose suggestions through this comparative study of policy cases to contribute to the promotion of various studies related to the scalability aspects of future research topics related to scale-up.

• Asian Journal of Innovation and Policy
• /
• v.8 no.3
• /
• pp.396-416
• /
• 2019

The key conditions for the promotion of innovative technology-based start-ups are expanding the market for innovative technology products and services, increasing equity-based funding opportunities, promoting the commercialization of technological innovation, and establishing a fair-trade system for start-ups to compete fairly in the market. Besides, there is a need for a support system that minimizes the cost of failure in case of business failure to facilitate re-challenge and provides education and training opportunities to enhance entrepreneurial capabilities. To activate technology-based start-ups, the Korean government introduced the TIPS policy in 2013. It is a program that creates technology start-up with private investment led by successful venture entrepreneurs, which has shown remarkable achievement and is regarded as the most successful policy in this field up to now. The most critical factor contributed to the success of this program is to invite private investors to select a technology entrepreneurship team and provide mentoring with the investment. The government provides R&D funding with matching investment, commercialization and marketing support to ensure that technology start-ups survive crossing the death-valley. Subsequent investments from domestic and abroad investors are actively made and it is becoming a representative technology-based start-up program in Korea.

• Journal of Digital Convergence
• /
• v.14 no.9
• /
• pp.265-279
• /
• 2016

The purpose of study was to test the effects of job characteristics and job stress on job satisfaction in the ICT Convergence Venture Companies and the moderating role of social support between job characteristics and job satisfaction. For this study, the data were collected from 15 ICT Convergence Ventures in metropolitan area by using structured questionnaires. The sample of 301 employees was selected and analyzed by hierarchical regression technique. The results showed that job characteristics had a positive effect on job satisfaction and job stress had a negative effect. And also found out social support had the moderate roles between job stress and job satisfaction except coworker support with regard to role ambiguity, whereas it did not serve as a moderate role between job characteristics and job satisfaction. The research results are summarized, the implications for ICT convergence Ventures were discussed, and the directions for future research were suggested.

• Journal of Digital Convergence
• /
• v.14 no.10
• /
• pp.129-136
• /
• 2016

This study aims to explore the influence of the social support services that have an effect on the organizational commitment and service quality of the labors working in the convergence service industry. Data for this study were collected from 233 labors working in the convergence service industry;20 smaller businesses located in Seoul and the metropolitan area. Structural equation modeling analysis method was performed for analyzing key data. As a study result, support of seniors and colleague, which is regarded as the variable of social support, had a significant positive effect on organizational commitment of the labors working in the convergence service industry. It also had a significant positive effect on the service quality that organizational commitment went through the support of the seniors and colleagues. I discussed theoretical and empirical implications with these findings and described the future research.

• KDI Journal of Economic Policy
• /
• v.40 no.2
• /
• pp.75-96
• /
• 2018

Recently, the government has been pursuing various policies to create new industries and jobs through the invigoration of start-ups. For the sustained growth of start-ups, it is necessary to look not only at the supply of risk capital but also at policies for venture capital firms that nurture and foster start-ups. The purpose of this study is to estimate the effects of the nurturing and fostering role of risk capital, such as mentorship on the performance of start-ups, and to do this we analyzed the effects, as a newly introduced form of venture capital, of mentoring by an accelerator and investor ties on the performance outcomes of start-ups. We find that mentoring and investor ties for start-up enterprises positively influence follow-up investment in start-ups. In addition, this study finds that with a younger CEO of a start-up, it is more likely that the performance of the start-up will improve. Meanwhile, when examining increases in employment as a measure of the business performance of start-ups, mentoring and investor ties are found to have a positive effect on the increase of employment at start-ups. These results suggest that there is a need to promote policies that strengthen the mentoring role of venture capital in Korea's equity finance policies and in the government's SME support policies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.9 no.3
• /
• pp.33-45
• /
• 2014

The Government of South Korea is actively promoting entrepreneurship policies to help solve an age old problem of unemployment; however, the unemployment rate of youth entrepreneurship remains at a low. Primarily due to the government fragmented policies that are unable to solve the daily difficulties young entrepreneurs undergo. Therefore, this study aims at deriving a modern solution to an age old problem that exists through the use of co-creation by first interviewing young entrepreneurs to help derive a paradigm model. The model was developed through a grounded theory approach to help strengthen the young venture entrepreneurs. The results revealed that majority of the young entrepreneurship revitalization policies had exclusive participation structure, allowing only a selected few: complex policies of various government departments, short-term funding, one-size-fits-all training and support, lack of follow-up support policies after start-up, excessive administrative requirements, and performance-oriented fragmented support. Concluding that the policies were unrealistic and ineffective for the entrepreneurs. Accordingly, the result suggests that Co-creation entrepreneurship revitalization policy, based on the experiences of entrepreneurs, will need to be established to formulate an effective policy that provides practical assistance to the entrepreneurs in the field.

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