• Journal of Technology Innovation
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• v.28 no.1
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• pp.1-30
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• 2020

The government has implemented policies to increase university technology commercialization while supporting university research over time. This paper adopts the neo-institutional theory and examines the effect of change in the government research funds that universities have received overtime on the change in their technology commercialization performance. It also investigates a location (Seoul metro or others) effect on the relationships. Using latent growth curve modeling (LGM), which is widely used for time-varying analysis, this study longitudinally analyzes 138 universities in South Korea over the past nine years from 2009 to 2017. The results indicate that the growth in the annual government research funds that universities attain affects the growth in the economic value of technology transfers. In addition, the relationship is stronger for universities in Seoul metropolitan areas than those in other areas. The relationships are intact with one-year lagging effects. The findings help understand the effectiveness of government R&D policies for promoting technology commercialization.

• Journal of Technology Innovation
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• v.11 no.1
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• pp.51-77
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• 2003

Although Korean government has made a great deal of investment on R&D projects, corresponding amount of efforts has not been effectively made for their commercialization. Effective technology transfer can help to spread the results of IT R&D programs. The main objective of this study is to provide some strategies for successful commercialization in lieu of technology transfer program at home and abroad. We summarize the present situation of IT R&D programs and analyze the obstacles to improve the process of materializing technology transfer.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.1-17
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• 2022

This study studied the effect of the TIPS support project of the Ministry of SMEs and Startups on the entrepreneurship of TIPS start-ups. The Tips start-up company, which is the subject of the study, was selected for the TIPS support project, participated in all commercialization funds, incubation facilities, and capacity building programs, and was selected as a company that received private investment. One-on-one in-depth interviews were conducted for about eight weeks from January 14, 2022 to March 11, 2022. For this study, the TIPS support project was subdivided into four categories: commercialization funds, incubation facilities, capacity building programs, and private investment attraction, and entrepreneurship factors were classified into four categories: innovation, challenge spirit, leadership, and risk-taking. As a result of the in-depth interview, the influence of the TIPS support project on entrepreneurship factors was in the order of challenge spirit, innovation, risk-taking, and leadership. Specifically, it was found that commercialization funds influenced innovation and risk-taking, incubation facilities had a challenge spirit and risk-taking, competency-building programs had a challenge spirit and leadership, and attracting private investment had an influence on innovation and challenge spirit. The implications of this study are that the TIPS support project, a private investment-led technology start-up support program, was introduced in 2013 and as of the end of March 2022, and a report was prepared focusing on visible performance such as private investment performance and employment rate. However, through this study, by analyzing whether the TIPS support project contributed to the cultivation of entrepreneurship for TIPS start-ups, it was found that it had a positive influence not only on quantitative growth but also on qualitative growth.

• Asian Journal of Innovation and Policy
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• v.12 no.2
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• pp.268-276
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• 2023

As the climate crisis intensifies, the need to improve the climate resilience of developing countries is ever increasing. Hence, the international community is seeking ways to effectively conduct climate technology transfer by linking the projects with financial mechanisms. However, commercialization of climate technology in developing countries is no easy feat as comprehensive knowledge on the target country is a prerequisite for seeking a suitable technology-financial linkage measure. Hence, in-depth discussions on effective climate technology and financial linkage measures have become an important global agenda, and South Korea, as a country with long experience in climate technology transfer, and a strong ecosystem for public climate technology, should step forward to take up a leading role. Against this backdrop, this paper proposes strategies and implementation measures for linking funds from the Multilateral Development Banks (MDB) with Korea's Public Climate Technology (PCT) by examining several key areas of R&D, international cooperation, and technology commercialization.

• Journal of Convergence for Information Technology
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• v.8 no.5
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• pp.229-236
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• 2018

In the past, technology commercialization was implemented in a narrow sense, such as technology transfer or start-up support. It has been pointed out that lack of entrepreneurial experience, failure in technology development, and insecure markets lead to failure of technology commercialization. The project supporting direct commercialization of technologies owned by academic and research institutes conjoins public funds and operating power of large enterprises to introduce a new technology commercialization model that combines commercialization technology with capital, market, and government policies. And pain points for direct commercializing technology was derived. Through research and analysis, a gap was found between the demand factors and the capability of the actors performing the technology commercialization, and it showed a significant correlation with the paint points. In consequence, measures were drawn to improve support policies to enhance the efficiency of commercialization of technologies held by universities and research institutes.

• Journal of Korea Technology Innovation Society
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• v.12 no.4
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• pp.788-818
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• 2009

Renewable energy refers to solar energy, biomass energy, hydrogen energy, wind power, fuel cell, coal liquefaction and vaporization, marine energy, waste energy, and liquidity fuel made out of byproduct of geothermal heat, hydrogen and coal; it excludes energy based on coal, oil, nuclear energy and natural gas. Developed countries have recognized the importance of these energies and thus have set the mid to long term plans to develop and commercialize the technology and supported them with drastic political and financial measures. Considering the growing recognition to the field, it is necessary to analysis up-to-now achievement of the government's related projects, in the standards of type of renewable energy, management of sectional goals, and its commercialization. Korean government is chiefly following suit the USA and British policies of developing and distributing renewable energy. However, unlike Japan which is in the lead role in solar rays industry, it still lacks in state-directed support, participation of enterprises and social recognition. The research regarding renewable energy has mainly examinedthe state of supply of each technology and suitability of specific region for applying the technology. The evaluation shows that the research has been focused on supply and demand of renewable as well as general energy and solution for the enhancement of supply capacity in certain area. However, in-depth study for commercialization and the increase of capacity in industry followed by development of the technology is still inadequate. 'Cost-benefit model for each energy source' is used in analysis of technology development of renewable energy and quantitative and macro economical effects of its commercialization in order to foresee following expand in related industries and increase in added value. First, Investment on the renewable energy technology development is in direct proportion both to the product and growth, but product shows slightly higher index under the same amount of R&D investment than growth. It indicates that advance in technology greatly influences the final product, the energy growth. Moreover, while R&D investment on renewable energy product as well as the government funds included in the investment have proportionate influence on the renewable energy growth, private investment in the total amount invested has reciprocal influence. This statistic shows that research and development is mainly driven by government funds rather than private investment. Finally, while R&D investment on renewable energy growth affects proportionately, government funds and private investment shows no direct relations, which indicates that the effects of research and development on renewable energy do not affect government funds or private investment. All of the results signify that although it is important to have government policy in technology development and commercialization, private investment and active participation of enterprises are the key to the success in the industry.

• Journal of Digital Convergence
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• v.18 no.7
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• pp.135-148
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• 2020

Even after successful technology development, there are many cases where commercialization fails due to difficulties in financing in the early stages of commercialization. The purpose of this study is to give practical implications to technology-based founders. At the beginning of commercialization, 7 companies that succeeded in procuring different types of external funds were selected to conduct case analysis. The results are as follow. First, it was confirmed that the excellence of technology is the most important. Second, it was confirmed that they were majors in the relevant technology field or have worked in related fields, and concluded that greater synergy effect can be created by adding the founder's business will and active attitude. Third, even if the company's internal capabilities were insufficient, it was possible to succeed in financing by identifying and utilizing external financial information. Fourth, it is necessary to utilize a linked financial system that receives both loans and investments. Fifth, systematic IR (Investor Relation) should be continued.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.642-663
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• 2017

The purpose of this study is to investigate the factors that affect professor startups and their performances in Universities in Korea. We included 5 categories of factors: University's size and reputation, University's technology commercialization staff number and startup deregulation, University's resources for research and technology commercialization, University's patents and professors' publication, and student startups. We analyzed 150 Universities, using Korean government's Academyinfo database, and additional data for University ranking and government's projects for University startups. Our analysis shows that Universities' fund amount for research and technology commercialization, Universities' amount of patents give a positive impact on Universities statistically significantly, while Universities' size or reputation does not. In addition, the amount of patents and startup projects funded by the government give a significantly positive impact on the annual sales of the professor startups. Furthermore, student startups are in a positive relationship with professor startups and their sales, showing a synergy effect between the two startup groups in Universities. The result implies that Universities and government need to focus on supporting patenting activities, providing technology commercialization funds, and collaboration activities between professors and students for their startup activities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.39-50
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• 2018

A main purpose of this research is to identify success factors of start-up based on the AER case study. As a result of case analysis, In the early stage, the success factors of start-up are the entrepreneur's history, experience, expertise, prompt judgment, problem-solving ability, the capacity and teamwork of its members, business networks and supporting government start-ups. In the commercialization stage, securing commercialization and investment funds, timing, differentiation strategy, overseas advancement, and acceptance of customer feedback are important. In the growth stage (maturity stage), new product launches and diversification, and establishment of organizational culture are important. Based on the results of this analysis, this study sought success factors and implications for each stage and sought research directions in the future.

• Asia-Pacific Journal of Business
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• v.10 no.4
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• pp.223-236
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• 2019

Governance can be defined as a concept that encompasses a series of processes including partner selection as well as control and coordination of collaboration to achieve common goals. The study examined efforts to mitigate the risks of opportunistic behaviors into partner selection, partner relationship, control mechanism, and conflict management. For cases that have achieved commercialization outputs with the participation of SMEs, data was collected and analyzed such as interviews with project managers and case records for seven months from October 2016. According to the analysis result, as the complexity increases, such as multilateral cooperation for the development of finished products, cooperation with a trusted partner rather than a partner who can perform a task well was preferred, and the process control was put ahead of the output control. Regarding the partner relationship, the relationship between the owner and the agent differed according to the point of view, and there was a lack of clear allocation of authority and responsibility as well as a reward for the result. In terms of the conflict management, most emphasis was on resolving conflicts or difficulties, and no attempt was made to utilize the positive aspects of the conflict. The structure of most industry-university-institute cooperation organizations is simply composed of the host and participating organizations, and the management regulations should be amended for companies, that put actual funds and use the outputs, to have the authority and responsibility as the owners, and be allowed to use the governance elements appropriately to take the lead as consumers.