• The Journal of Information Systems
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• v.27 no.4
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• pp.229-249
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• 2018

Purpose The purpose of this paper is to conduct exploratory comparative research on the determinants of successful crowdfunding projects, focusing on multiple crowdfunding platforms in Korea, U.S., and Japan. Design/methodology/approach This study collected data from three representative crowdfunding platforms: Wadiz (Korea), Kickstarter (U.S.), and Readyfor (Japan). Based on 1,906 crowdfunding projects from Wadiz, 3,864 projects from Kickstarter, and 3,060 projects from Readyfor, multiple regression models were applied. Findings Focusing on the crowdfunding projects which have overly achieved goal amount, the analysis results show that the number of comments, the number of Facebook likes and the number of backers have an positive impact on the performance of crowdfunding projects, while target amount has a negative impact. Comparatively, word counts of project description have an impact on funding performance in U.S. and Japan, while the number of images in project description affects funding performance in Korea and U.S. Meanwhile, video clips in project description has little impact on crowdfunding performance in all of the three funding platforms.

• Journal of Korean Institute of Industrial Engineers
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• v.34 no.2
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• pp.190-204
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• 2008

Recently, it has been strongly required to establish a systematic and sustainable performance investigation and evaluation framework on governmental funding projects for IT small and medium-sized enterprises. In this paper, Data Envelopment Analysis (DEA) models are adopted for performance evaluation on governmental funding projects for IT small and medium-sized enterprises. A new data structure is proposed for the DEA performance evaluation. Generally, in using DEA models, DEA multipliers restriction is critical to achieve the reliability of DEA optimal solutions. Based on the outputs and inputs considered in this study, Acceptance Region (AR) constraints are generated and incorporated into the DEA models so as to improve the reliability of DEA efficiency scores. Associated with AR Type I (AR-I), AR Global Model (ARGM) constraints, DEA/ (AR-I, ARGM) models are designed and then sensitivity analysis follows investigating the robustness of DEA efficiency scores relating to AR constraints adjustment. Finally, a performance evaluation is illustrated regarding governmental direct funding projects from Ministry of Information and Communication (MIC) in Korea where each project unit (i.e. Decision Making Unit (DMU)) is determined whether it is efficient or not. By using DEA/(AR-I, ARGM) models designed in this paper, robustly efficient DMUs are gradually identified according to the successive AR constraints adjustment. Among 25 DMUs, results show that 6 DMUs such as B, E, G, Q, S, Y are determined as robustly efficient against AR constraints intermediate adjustment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.97-105
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• 2014

This study attempts to review the theories and related literatures on crowd funding and build the framework to understand the core concepts of crowd funding. In addition, I explore the applicability of crowd funding platforms for start-ups. For this purpose, I analyze the framework based on the life cycles of projects on crowd funding with the components of stake-holders. Furthermore, I review the results of previous outstanding literature on pros and cons of crowd funding to identify the applicability of crowd funding for start-ups. The results show that the use of crowd funding platform alleviates the risks involved with the information goods which occupy major portion of the projects listed on crowd funding have unique cost structure with high fixed cost and very low variable cost. Consequently, crowd funding is identified as a platform for start-ups of information goods by leveraging the wisdom of crowd. However, crowd funding may not work as an effective platform for start-ups if group thinking emerges. The study provides an implication that it provides a framework for understanding crowd funding and its applicability for start-ups, which can support government's policy for creative economy. Additional empirical research analyzing the data on the projects listed on crowd funding platforms in Korea will be performed in the succeeding study.

• The Journal of the Korea Contents Association
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• v.16 no.5
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• pp.157-171
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• 2016

The aim of this study is to analyze the relationship between fluctuations of a government subsidy and research outputs on the basic research field. An analysis of this study was conducted on basic research projects specifically on the field of information technology (IT) filed at university and Individual Research Programs of Korean ministry. Using various project characteristic variables, relationship between dependent variables and independent variables was controlled. To summarize results of a regression analysis, from looking at the correlation between fluctuations of a government subsidy and basic research outputs (weighted papers and patents), the result showed a positive relationship. The maximum effect of increased research funding projects on research outputs was 8 times greater than an effect of maintained funding projects. Moreover, the maximum effect of decreased research funding projects on research outputs was 4 times greater than an effect of maintained funding projects. Base on this result, we suggested implications from academic and practical aspects.

• International Journal of Internet, Broadcasting and Communication
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• v.15 no.1
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• pp.231-242
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• 2023

Crowd funding faces a number of significant obstacles despite its rapid growth and popularity, with the main one being the possible asymmetric information between fundraisers and potential supporters. A study taxonomy based on signalling theory has been created to compare projects originating from Taiwan and India. This was made possible by obtaining a dataset from the crowd funding website, Kickstarter (Global platform). To make the project effective, the study's goal is to look into how signals (e.g., goal-setting, comments, and updates) might be used to reduce the problem of information asymmetry. Thus, we applied an Ordinary Least Squares (OLS) regression. Both Taiwan and India demonstrated signal mitigation of information asymmetry, but Taiwan showed a stronger relationship between ambitious goals and successful projects than India. The relative importance of project comments has been found to be stronger in Taiwan than in India; the relative importance of project updates has been found to be weaker and negatively correlated with project success in India, in contrast to Taiwan. Notably, our findings provide a theoretical and practical framework for understanding and using signals in successful crowd funding campaigns and activities in these two emerging countries.

• Journal of Korean Institute of Industrial Engineers
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• v.41 no.3
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• pp.305-323
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• 2015

Since various R&D projects about technology convergence was conducted by the government of Korea, the lack of liaisons among the projects has been accepted as serious issues related on the duplicated funding. In this article, we propose a research framework to analyze the relationship among national R&D projects about technology convergence. In detail, the projects have been sorted and categorized with the data collected from National Science and Technology Information Service (NTIS) in order to analyze the current state of national R&D projects. The linkages among projects are then established using the results of analysis on national R&D projects. Finally, the relationship maps have been developed. It is expected that the result could be applied to identify the relations among projects and handle problems on the duplicated funding.

• Korea Trade Review
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• v.45 no.1
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• pp.13-29
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• 2020

With the development of the Internet environment, cross-border crowdfunding has emerged as a novel method to attract foreign investors online. Focusing on 324 South Korea-based crowdfunding projects from Kickstarter, which is a representative cross-border crowdfunding platform, this study explores the trends of South Korea-based funding projects and examines the effects of key determinants on crowdfunding outcomes. Regarding the characteristics of crowdfunding projects, analysis results show that the appropriate goal amount and funding period, sufficient updates of project status, and active communication is critical for success. Additionally, from the perspective of project creators, this research finds that creators need to pay greater attention to writing their detailed biographies. Finally, examining the characteristics of project backers, this study shows that attracting project backers from various countries would be desirable rather than focusing on Korean sponsors from the start.

• Economic and Environmental Geology
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• v.40 no.6
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• pp.815-825
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• 2007

This study analyzed trends in geoscientific research funding provided by the Korea Science and Engineering Foundation (KOSEF) and examined strategies to promote geoscientific research. The strengths of geoscientific research in South Korea include the excellent academic quality of researchers, established research infrastructure, and inter-disciplinary research. Weaknesses include insufficient leadership in related societies and institutes, insufficient research productivity, and the exclusion of the field from nationally supported large-scale research projects. Opportunities for expanded research include environmental issues, the sustainable use of natural resources, the promotion of international research cooperation, and the initiation of national efforts to find solutions for regional problems. However, growth in the geosciences is threatened by prioritized investment in fields such as biotechnology, nanoscience, and information technology, a dismissive attitude toward the growth of basic sciences, and an increased demand for projects with visible economic and societal impacts. In terms of funding, group-based programs receive more support than individual-based programs. Between 1978 and 2006, KOSEF invested 1,744 billion won ($1.873 billion US) in a total of 46,748 basic research projects. Of this amount, 62.1 billion won ($66.7 million US) was allocated to 1,901 projects in the geosciences, which was roughly 2.6-10.6% of the money available in a given year. These funds were used to support research and development, the development and maintenance of necessary infrastructure, and the education and training of geoscientists.

• STI Policy Review
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• v.4 no.1
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• pp.94-118
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• 2013

Innovation plays a large role in green growth. While it is a widely accepted view that, without innovation, it would be very difficult and costly to address major environmental issues, innovation itself tends to be constrained by limited access to eco-financing and is inherently risky, often requiring a long-term horizon. Although global consensus is more or less established as to the urgency and necessity of accelerating green innovation, the quality and quantity of financing in this area is largely insufficient, with increasing funding gaps in many countries. A new financial mechanism is urgently needed in order to re-orient financial flow and enable innovators to overcome the valleys of death that occur throughout the innovation cycle. A number of different modalities exist in financing the commercialisation of eco-innovation. Existing mechanisms have not been as successful as expected, revealing critical limits to furthering certain types of projects that are essential for economic and environmental progress. Experts' estimations have shown that the funding gap will widen in the coming years as demand for clean energy and green infrastructure rises, and as green technologies and innovation develop faster than the market for it can develop. Against this backdrop, the main purpose of this research is threefold: to identify issues and problems regarding current means of funding for eco-innovation and green projects; to provide insight into securing longterm green financing by looking at European cases; and ultimately to suggest policy implications for designing and implementing eco-specific financial instruments, focusing on governments' roles in sustainable financing for eco-innovation. This study analyses different models of financing mechanisms, a mix of public and private funds, in view of suggesting conditions for the sustainable financing of green projects, especially for large-scale high-risk projects. Based on the findings from the analyses of mechanisms and the shortcomings of the existing funding modalities, this study ultimately suggests policy implications for effectively supporting the commercialisation of eco-innovation.

• Informatization Policy
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• v.21 no.4
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• pp.3-19
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• 2014

Crowd-funding platforms, which enable to collect funds from individuals, have recently gained growing interests around the world. This study intends to provide future research directions for the crowd-funding by reviewing past research works. For this purpose, two research themes are selected - (1) motivations to participate in crowd-funding and (2) critical success factors for the project funding. The motivations are analyzed from both perspectives of fund demanders and suppliers. The critical success factors are investigated by using four dimensions: fund demanders, fund suppliers, relationships between demanders and suppliers, and project characteristics. Using the implications found from the past research, this paper offers future research issues necessary for the growth of crowd-funding platforms.