• Journal of Korea Technology Innovation Society
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• v.6 no.1
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• pp.41-59
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• 2003

Daedeok Valley, located in the Daejon Metropolitan City, Korea, has around 1,000 start-ups. There is no comprehensive study for the valley except Seol et al.(2002), because the valley is a new one. There was no such valley four years ago, in 1998. This paper defines the spatial boundary, origins and characteristics of the valley. The core area of the valley is Daedeok Science Town. This valley is an outcome of so called the Venture Policy of DJ government and business restructuring after foreign exchange crisis of November, 1997.

• Journal of Digital Convergence
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• v.6 no.3
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• pp.35-43
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• 2008

This research was to analyze information network which contributed Anyang Venture Valley's development. And mutual communication between regional innovated companies was the essential factor of this growth. Anyang city with its Knowledge Industry Promotion Agency, KIPA, has first set up communication network, facility and other structures to create basis of communication. For that, they were able to operate various networking and promotion of communication which led to the enforcement of regional innovation in venture businesses. During its innovation, KIPA played a key role as a link between regional Innovated companies, which enabled active interactions between them. Government can verify significance of establishing network base with mediation function for lively communication for promoting innovation capability through Anyang Venture Valley's case.

• Journal of Information Technology Applications and Management
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• v.12 no.2
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• pp.163-184
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• 2005

The purpose of this research is to examine the major determinants affecting the usage and performance of information technologies in Daedeok Valley and Zhongguancun venture firms. The development of the research model is based on the theoretical linkages of IDT (Innovation Diffusion Theory) and TAM(Technology Acceptance Model). Seven hypotheses are derived and tested using regression analysis. The results from regression analysis suggest that the usage of Information technologies is affected by innovation characteristics (perceived usefulness) as well as organizational characteristics (top management support, employee capability on information technology acceptance) in Daedeok Valley venture firms. But, The results from regression analysis suggest that the usage of Information technologies is affected by innovation characteristics (perceived usefulness), organizational characteristics (top management support, employee capability on information technology acceptance), and external pressure (environmental uncertainty, intensity of competition) in Zhongguancun venture firms.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.3
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• pp.366-376
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• 2019

Youth unemployment reached a record high in 2017, and business revitalization is emerging as a means of overcoming this situation. The number of venture companies and amounts of new venture investments are increasing year on year, and the government has upgraded Small and Medium Business Administration to the Ministry of SMEs and Startups. However, the success rate of startups is relatively poor. Over the past three years only 39.1% of Korean startups survived and 90% of companies failed in the Valley of Death phase. Survival this phase is critical for early startups, and thus, the amount and timing of investments are critical. Current models for establishing business startups do not effectively attract investments because they lack practical, corporate evaluation variables. In this paper, we develop a mixed process that incorporates the factors and business models focused on by venture capital investors. In addition, we compared our Death Valley Venture (DVV) process with current methods and provide an example of its application.

• Journal of Korea Technology Innovation Society
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• v.7 no.2
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• pp.305-324
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• 2004

본 연구는 대덕벨리 벤처기업들의 현황 분석을 목적으로, 벤처 기업들의 CEO들을 대상으로 설문조사를 실시하였다. 이를 토대로 의미미분법을 적용하여 심층 분석해 본 결과, 대덕벨리의 벤처기업들은 대체로 자금조달, 마케팅 전략, 그리고 네트워크에 문제가 있는 것으로 나타났다. 특히, 제한된 자금조달 원천, R＆D에 치중한 기업 전략, 낮은 산학 연간 협력구도가 핵심 현안문제로 제기 되었다.

• Journal of Information Technology Applications and Management
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• v.15 no.1
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• pp.43-65
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• 2008

This study investigates the effects of business environment on the e-business strategy and performance of venture firms. The development of the research model is based on the empirical studies on the strategy literature. The data from the survey was analyzed using Partial Least Squares(PLS). For Daedeok Valley Venture Firms, product innovation differentiation strategy is affected by environmental uncertainty. And, cost leadership strategy tend to be influence by environmental uncertainty. Finally, venture firm's performance is effected by cost leadership strategy and marketing differentiation strategy. However, for in Hsinchu Science Park Venture Firms, product innovation differentiation strategy is affected by environmental uncertainty and heterogeneity. And, marketing differentiation strategy is enhanced by environment uncertainty and industry growth. In addition, cost leadership strategy tend to be influence by environmental uncertainty and heterogeneity. Finally, venture firm's performance is effected by cost leadership strategy and product innovation differentiation strategy.

• Proceedings of the Korean Society for Applied Microbiology Conference
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• 2001.06b
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• pp.25-27
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• 2001

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.17-25
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• 2020

Venture debt is a prominent funding tool to promote scale-up of ventures. In the growth stage, venture firms that need large-scale funding can accelerate their growth by leveraging venture debt without diluting their shares, while venture capitals can quickly recollect their investments by accelerating the growth of the ventures they invest. By supplying venture debt, banks can diversify their asset primarily concentrated on loans, and improve the return on assets. As in the case of Silicon Valley Bank, a leading venture lender, closer cooperation between the two agents is essential to supply venture debt. One is the venture capital, an equity capital supplier, and the other is the bank, a debt capital supplier. To this end, we propose "credit risk sharing venture loans" and "venture loan pooling". The former encourages banks' participation in the venture debt market where the manager of Korean Fund of Funds, KVIC and policy guarantee schemes such as KODIT and KIBO screen or partially absorbe the risks inherent in venture loans. The latter reduces the burden of banking on individual venture loans through securitization.

• Journal of the Korean Geographical Society
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• v.38 no.2
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• pp.237-256
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• 2003

The main aim of this paper is to provide a plan for building an effective and competitive innovation system of Daeduck Valley in Korea through analysing the process of knowledge production and commercialisation of venture firms in the perspective of industry-(university) research networks. Since 1997, with the willingness of the government aimed at building' second Sillicon Valley', an ostensible innovation system cantered around the existing science technology town has been able to be built in Daeduck Valley. Nonetheless, some fundamental problems with the knowledge production and commercialisation of venture firms were appeared as the results of this study. It is led tv not only the lack of network agents and institutes that are able to facilitate and coordinate the networks of economic actors comprised of the innovation system, but also the impertinent roles of economic actors. In particular, these problems were differentiated in accordance with the growth stage of venture firms and the processes of knowledge production. Therefore, several policy implications for building innovation system are suggested in the perspective of the complement of existing innovation system of Daeduck, rather than constructing a new innovation system. At the same time, they are provided in accordance with different growth stages and knowledge production processes.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.13-29
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• 2023

Overcoming the death valley, a period in which resources are depleted and profitability declines or stagnates in the entrepreneurial process, is an essential procedure for success. In this study, we examined how the strategic orientation(technology, customer, competitor orientations) and absorptive capacity(potential, realized capacities) of startups affect the possibility of startups to overcome the challenges of death valley, and also empirically analyzed whether support of open innovation and venture capital has a moderating influence to the overcoming of death valley. The result of this study shows that customer orientation and realized absorptive capacity have a positive influence on overcoming the death valley. In addition, we found that the support of open innovation and venture capital has a moderating effect only in the technology orientation among the three types of strategic orientations. The result of this research emphasizes (1) the need for startups to take a more customer-oriented approach to overcome the death valley. The customer-oriented behavior and strategies of startups are vital for their longterm survival and success if we consider the fact that most of the companies investigated in this study were technology-based startups and only customer orientation showed significant results in overcoming the death valley. The research outcome also shows that (2) implementing innovation in a more open way and securing venture capital funding can make it easier for startups to overcome the death valley. This study has academic significance in that it empirically analyzed the relationship of key factors influencing the overcoming of death valley in a situation where the majority of existing research remains at the conceptual level of discussion or methodology of case study. Furthermore, this research also provides practical implications for the establishment and implementation of effective strategies to confront the challenges of death valley for startups, government and related organizations.