• Journal of Distribution Science
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• v.17 no.12
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• pp.95-103
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• 2019

Purpose : Promoting startups has increased in importance in labor market policies since the economic crisis. In Korea, the Ministry of SMEs and Startups is also seeking to revitalize youth startups and traditional markets by moving young stores into idle spaces in traditional markets through 'Project to Support the Activation of Youth Mall'. Research into startups in traditional markets is very limited. Therefore, this study looks at the differences between the management performance of young merchants and senior merchants, and looks at the impact of the business period. Research design, data and methodology : It was divided into youth startup and senior startup based on the age of 40 and startup and nonstartup. Based on these criteria, the company intends to compare and analyze sales and margin rates by setting the sales and margin rates with the management performance of the startup and senior startups. In particular, to look at the feasibility of government funded projects for young merchants, the company will look at the changes in sales and margin rates of young merchants and senior merchants over the period of operation. In this study, the analysis was based on the raw data of the Statistics of traditional market in 2017, and the ANCOVA was used. Results : First of all, the sales volume of stores operated by young merchants, was higher than those operated by senior merchants. Next, the margin ratio does not differ from that of stores that are for young people and those. These findings suggest that the profit structure of stores in traditional markets is similar between young merchants and senior merchants. Third, if you look at the performance of new startups based on one year of business period in more detail, it turns out that young startups have improved in sales and margin rates since startups, while senior startups have no difference. Conclusions : While it means that management performance can be improved through support for young startups, it suggests that there is a limit to supporting senior startups. Therefore, this research indicates that the government support projects centered on youth can contribute to the revitalization of traditional markets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.67-80
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• 2020

This study has been conducted at a time when Korean government continues to extend support for youth startups as part of its policy to create jobs and the focus moves from career and employment to youth startups with a growing interest in the field of youth startups. Against this background, this study aims to identify difficulty factors of youth startups in areas besides the Seoul Metropolitan Area, seek ways to overcome difficulty factors, and propose policy implications. To this end, this study set five criteria and 25 sub-criteria to evaluate the difficulties of youth startups by reviewing previous studies and conducting literature review, and performing brainstorming method. The empirical analysis of the evaluation criteria was performed, using the analytic hierarchy process (AHP) method, on youths aged 19 to 39 in Gunsan area. The analysis results showed that the largest difficulty factors facing local youths include business model establishment, business administration and management, and startup funding in the criteria. As for sub-criteria, the largest difficulty factors are market information acquisition, technology commercialization, project feasibility, technology development, and new market pioneering in descending order. Local youths have much difficulty about the process of turning a business item into a product and commercializing it. According to a comparative analysis by gender, men were a relatively high difficulty in commercializing business models than women. men were a relatively high difficulty in commercializing business models than women. On the other hand, women were higher than men in all factors (management management, entrepreneurship, improvement of entrepreneurship system, and improvement of entrepreneurship awareness) except for factors affecting business model. In addition, the factors of entrepreneurship were found to be relatively different among young people (college students, prospective entrepreneurs, entrepreneurs). In conclusion, it was suggested that in order to revitalize youth entrepreneurship in the region, it is necessary to actively resolve the difficulties of business model commercialization rather than entrepreneurship funds. In addition, it is necessary to strategically support customized entrepreneurship support and situational administrative services because gender and hierarchical difficulties are different than general solutions. This study presented practical priorities and derivation methods for the entrepreneurship difficulties faced by local youth, and suggested measures and improvements for vitalizing local youth entrepreneurship in the future.

• Asian Journal of Innovation and Policy
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• v.8 no.1
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• pp.97-121
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• 2019

The Korean government has focused on universities or colleges as the main targets of its startup policy since the 2010s. However, the performance is not so good, with a low survival rate. The purpose of this study is to examine the factors that underpin the success of student startups. First, through a review of the literature, this study compared the success factors of student startups with those of venture startups, which means the general startup sector, as well as youth startups, also a focus of startup policy targeting youngsters outside universities or colleges. Second, we analyzed case studies of startup companies connected University H. The literature review showed that the main target of student startups is the employment of university students. There is a lack of studies on success factors; existing studies only emphasize the entrepreneurship of students. The results of case studies showed several factors of success similar to those of general venture startups: founders, business model and resources including team, and mentoring.

• Knowledge Management Research
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• v.20 no.2
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• pp.197-216
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• 2019

The Korean government has been focusing on supporting technology startups to solve social and economic problems such as low growth, declining economic growth rate, rising youth unemployment rate and lack of new growth engine. Although the failure rate of young technology startups is very high, relevant researches are still scant. On the basis of previous researches, this study has identified four growth factors of technology startups: characteristics of entrepreneurs, technical superiority and originality of business items, focused marketing strategy, and follow-up government support projects. Five young technology startup cases were selected and analyzed in the cosmetics industry which were supported by the Six-month Challenge Platform project of Chungbuk Creation Economic Innovation Center. The main findings of the case study were as follows: First, product development through inhouse R&D rather than external contracted R&D was beneficial to acquiring follow-up government support projects and external investment. Second, choosing a small niche market and concentrating marketing efforts on the target market had a positive effect on firm performance. And, third, relevance of entrepreneurs' college major and technological originality of business items were confirmed to influence firm performance positively in the early stage. The results are expected to help young technology startups survive successfully and establish a foothold for growth in their early stage.

• Journal of Korea Society of Digital Industry and Information Management
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• v.20 no.1
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• pp.149-160
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• 2024

This paper was conducted to improve understanding of how the start-up process affects the local community and how young entrepreneurs build and grow their businesses in the process through analysis of young people who started businesses in the region. The research method was conducted through in-depth interviews with 10 young entrepreneurs who started businesses in the western Gyeongsangnam-do region, where population decline is prominent, and the collected data was analyzed through a grounded theory approach to derive common and meaningful themes between each case. proceeded. As a result of the study, insights were derived about the background of entrepreneurs settling in the region, the motivation for starting a business using local resources, the impact of government and local government support, business strategies for sustainable growth, and the entrepreneurs' personal performance. Through this analysis, we hope to provide important insights into the positive impact local entrepreneurship has on the community and how young entrepreneurs contribute to local development.

• 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.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.177-191
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• 2023

This study analyzes the types of linkages between major projects used by firms that attracted venture capital among firms that received government support in the field of SME startups. It identifies the types of linkages between support programs related to attracting venture investment and verifies the usefulness of integrated and cooperative support. The main findings of this study are as follows. First, Startup Success Packages, Startup Foundation Funds*, Youth Entrepreneurship Centers, and Training are the main programs used by startups and venture firms, and support-implementing agencies use these programs to provide support for each stage of growth. Second, the majority of startups and venture firms receiving policy support for job creation and manpower enhancement projects. Third, export-type growth companies receive continuous support from MSS, MOTIE, MSIT, and KIPO. Fourth, job creation programs drive the employment performance and creation of companies. Fifth, local government support projects tend to rely heavily on central government support programs. Sixth, growth companies in the startup and venture sector have a clear link to credit guarantee scheme by KIBO. These findings provide empirical evidence on the necessity and feasibility of integrated and collaborative support, and are expected to contribute to the direction of better support policies.

• Journal of Environmental Impact Assessment
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• v.32 no.6
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• pp.556-576
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• 2023

This study attempted to find a way to utilize idle spaces in rural areas as a way to respond to rural extinction. Based on the keywords "startup," "youth start-up," and "youth start-up+rural," start-up+rural," the study sought to identify the perception of idle facilities in rural areas through the keywords "Idle facilities" and "closed schools." The study presented basic data for policy direction and plan search by reviewing frequency analysis, major keyword analysis, network analysis, emotional analysis, and domestic and foreign cases. As a result of the analysis, first, it was found that idle facilities and school closures are acting importantly as factors for regional regeneration. Second, in the case of youth startups in rural areas, it was found that not only education on agriculture but also problems for residence should be solved together. Third, in the case of young people, it was confirmed that it was necessary to establish digital utilization for agriculture by actively starting a business using digital. Finally, in order to attract young people and revitalize the region through best practices at home and abroad, policy measures that can serve as various platforms such as culture and education as well as startups should be presented in connection with local residents. These results are significant in that they presented implications for youth start-ups in rural areas by reviewing start-up recognition for the influx of young people as one of the alternatives for the use of idle facilities and regional regeneration, and if additional solutions are presented through field surveys, they can be used to set policy goals that fit the reality.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.3
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• pp.13-29
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• 2021

The purpose of this study was to analyze the spatial distribution and location factors of startups by generation (young and middle-aged) in Seoul. To this end, a research model was established that included factors of industry, population, and startup institutions by generation in 424 administrative districts using the Seoul Business Enterprise Survey(2018), which includes data on the age group of entrepreneurs. As an analysis method, descriptive statistics were conducted to confirm the frequency, average and standard deviation of startups by generation and major variables in the administrative districts of Seoul, and spatial distribution and characteristics of startups by generation were analyzed through global and local spatial autocorrelation analysis. In particular, the spatial distribution of startups in Seoul was confirmed in-depth by categorizing and analyzing startups by major industries. Afterwards, an appropriate spatial regression analysis model was selected through the Lagrange test, and based on this, the location factors affecting startups by generation were analyzed. The main results derived from the research results are as follows. First, there was a significant difference in the spatial distribution of young and middle-aged startups. The young people started to startups in the belt-shaped area that connects Seocho·Gangnam-Yongsan-Mapo-Gangseo, while middle-aged people were relatively active in the southeastern region represented by Seocho, Gangnam, Songpa, and Gangdong. Second, startups by generation in Seoul showed various spatial distributions according to the type of business. In the knowledge high-tech industries(ICT, professional services) in common, Seocho, Gangnam, Mapo, Guro, and Geumcheon were the centers, and the manufacturing industry was focused on existing clusters. On the other hand, in the case of the life service industry, young people were active in startups near universities and cultural centers, while middle-aged people were concentrated on new towns. Third, there was a difference in factors that influenced the startup location of each generation in Seoul. For young people, high-tech industries, universities, cultural capital, and densely populated areas were significant factors for startup, and for middle-aged people, professional service areas, low average age, and the level of concentration of start-up support institutions had a significant influence on startup. Also, these location factors had different influences for each industry. The implications suggested through the study are as follows. First, it is necessary to support systematic startups considering the characteristics of each region, industry, and generation in Seoul. As there are significant differences in startup regions and industries by generation, it is necessary to strengthen a customized startup support system that takes into account these regional and industrial characteristics. Second, in terms of research methods, a follow-up study is needed that comprehensively considers culture and finance at the large districts(Gu) level through data accumulation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.57-71
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• 2022

The purpose of this study was to analyze the perception and demand of local youth and to find ways to support universities in order to create an youth start-up ecosystem. To this end, 509 young people living in Seoul were analyzed to recognize and demand young people in the region for youth start-ups, and to support universities. The findings are as follows. First, as a result of analyzing young people's perception of youth start-ups in the region, the "Youth Start-up Program" was analyzed the highest in terms of the demand for regional programs by university. In addition, there was a high perception that the image of youth startups in the region was "challenging" and "good for changing times." Second, after analyzing the demand for support for youth start-ups in the region, it appeared in the order of mentoring, start-up education, and creation of start-up spaces. And it showed different needs for different ages. Third, the results were derived from analysis of the demand for university support for the creation of a regional youth start-up ecosystem, the criteria for selecting local youth start-up support organizations, and the period of participation in local youth start-up support. Based on the results of the above research, the implications and suggestions of university support for the creation of a community of youth start-up ecosystem are as follows. First of all, it is necessary to develop and operate sustainable symbiosis mentoring programs focusing on university's infrastructure and regional symbiosis. Second, it is necessary to develop and utilize step-by-step systematic microlearning content based on the needs analysis of prospective youth start-ups. Third, it is necessary to form an open youth start-up base space for local residents in universities and link it with the start-up process inside and outside universities. The results of this study are expected to be used as basic data for establishing policies for supporting youth start-ups and establishing and operating strategies for supporting youth start-ups at universities.