• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.4
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• pp.37-47
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• 2013

This study investigates regional financial markets and proposes some policy measures for boosting up the regional financial system. Financial supports for start-ups, small and medium sized enterprises(SMEs) in early stage growth have been constrained due to expanded financial gaps among regions during financial restructuring period. The bank consolidation through M&A is associated with widening financial gaps between Seoul area and others, and between regions where regional banks survives or not. Loans to small firms are associated with relationship lending techniques that may be better supported by smaller regional banks. The loan rate to SMEs in locals where regional banks are activated has tended to be 10%point higher than the locals where regional banks closed, and also drive the greater contribution for preventing local capital outflow and promoting local capital investment by local penetrating strategy. Government should develop regional financial policies to boost up regional financial system, and expand the business area of regional financial institutions for supporting start-ups and SMEs.

• The Journal of the Korea Contents Association
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• v.18 no.9
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• pp.584-593
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• 2018

The startup, which is a common noun to start a small business, has been recently one of main targets for policymakers due to its important role for job creation and considerable potential for sustainability of an economy. However, technological entrepreneurship decreased by 5.0% p from 2013 to 2016. The revitalization of entrepreneurial investment promoted by the government is mainly supported in fruitable venture companies at grow stage or 2~3 years before IPO through venture capital firms and angel funds. It is far from an investment at start-up. It is therefore necessary to motivate private investment to be active in the private start-up sector. In addition, the start-up investment requires institutional support and government support to meet the expectations of investors about the possibility of payback and profitability of private investment invested in the founding period. As a small entrepreneur at a comparably early stage in the lifecycle of business, investments for the startup are generally made by informal investors such as family, friends and fools, and their decision making processes are relatively non-programmed compared with ones for listed corporales such as venture capital and angel fund agency. This study focuses on analyzing decision making factors in investment, and verifying an impact of such factors, specifically the possibility of investment payback and investment profitability, in a decision-making process for the startup especially at the very early stage.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.95-114
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• 2020

This paper, a meta-analysis of the effect of the start-up support policy on the start-up performance was conducted to examine the effect of the start-up support policy on the start-up performance of beneficiary companies and to provide theoretical and practical implications to support organizations and practitioners. To this end, 35 papers containing the correlation coefficient, which is a positive statistical value, were selected from the previous studies in academic journals and dissertations published in Korea from 2007 to 2020. In the preceding study of the start-up support policy, the independent variables include funding, education support, facility/equipment support, network support, mentoring support, consulting support, marketing support, management support, technical support, manpower support, and finance as a dependent variable. The effect size of the impact on aptitude and non-financial performance was reviewed. The pattern of the effect size was presented as a forest plot for easy visual understanding, and outliers were verified through sensitivity analysis for small-study-effect data with publication convenience. As a result of analyzing the effect size of the government-supported policy, it was verified that the effect size was generally medium or higher, affecting the entrepreneurial performance. Among the independent variables, the factor that has the greatest effect on startup performance is manpower support, followed by technical support, marketing support, management support, facility/equipment support, education support, mentoring support, funding, network support, and consulting support. It was analyzed that the effect size was large in order. As the 「Small and Medium Business Startup Support Act」 was recently reorganized from the manufacturing industry to digital transformation and smartization on October 8, 2020, the start-up support policy should consider the start-up stage and verify the priorities to organize the budget.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.111-127
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• 2019

The "fourth industrial revolution" is changing society as a whole. Public innovation is needed to enhance national competitiveness. Amid these times' demands, the "maker movement," a new form of DIY movement that has revived since 2000, is regarded as a "popular innovation activity" that can respond to changing needs. In particular, "Makerspace," a significant activity area for the maker's movement, is drawing attention as a place where "Maker" shares each other's knowledge and resources, and share results. Makerspace has recently expanded its functions into a 'public innovation platform' or (preparation) start-up preparation space for start-ups. South Korea has also supported various types of "Makerspace" since 2010 as a policy for fostering an innovation base. The Ministry of Small and Medium Venture Business has been pushing for expansion of Makerspace since 2018 and is providing support by dividing it into "general rap" and "professional wrap" and "zero to Maker" spaces for novice makers in the beginning and necessary stages of makers, while "professional rap" is divided into "Maker to Maker" spaces for professionals. This study is about Makerspace, space where makers are active among the topics related to manufacturers. Thus, in this study, significant domestic and international studies related to Makerspace have been investigated so far, and trends in related studies have analyzed. Based on this, the research needs and specifics of Makerspace, which has recently expanded its role and functions. In particular, the Commission intends to present the need for research on Makerspace and specific areas of study from a start-up management perspective to promote qualitative growth of Makerspace, which is changing into a popular innovation platform in the era of the fourth industry, and inducing a start-up management interest in new manufacturing industry types.

• Journal of Distribution Science
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• v.22 no.9
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• pp.73-84
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• 2024

Purpose: This study aims to comprehensively analyze what small business owners experience in relation to stressors, consequences, coping methods, and situational factors. Research design, data and methodology: In this study, qualitative research methodology was used to conduct in-depth interviews with 15 small business owners who started franchise convenience stores, and classify stressors and consequences, coping methods, and situational factors based on the transactional theory of stress. Results: The results of this study are as follows. First, stressors were classified into challenge stressor and hindrance stressor. Second, stress coping methods were classified into problem-focused and emotion-focused coping methods. Among them, SBOs mainly used problem-focused coping methods. Third, consequences were classified into physiological, emotional, and behavioral tension. Lastly, the moderating factorsin the process of stress coping were resilience, social support, and positive traits. Conclusion: Theoretically, the stressors and coping methods that small business owners experience during the start-up process were confirmed from an integrated theoretical perspective. Practically, building trust relationships with SBOs and providing realistic job introductions are required at the head office level, and on the individual side, efforts are required to strike an appropriate balance between behavioral and emotional stress coping and to form a consensus with family members.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.2
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• pp.93-120
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• 2007

To promote the commercialization of high technology based start-up company, it is essential to activate technology trading for the Innovative Small & Medium companies which eager to acquire technology competitiveness through technology trading and facilitate financial system which provide Small & Medium companies with technology commercialization money. This study focus on enhancing credibility of technology valuation solutions through the improvement of the existing technology valuation solutions. The existing technology valuation solutions in practice have deficiency in reasonable valuation because of subjective technology factor's calculation. And the commercialization risk of high technology based start-up companies cannot be fully reflected in the existing valuation solutions. The high risk of technology commercialization acts as a hurdle in the facilitation of providing money for the start-up companies. The improved new model will have more acceptable objectivity and reasonably reflect the commercialization risk of start-up companies. The new model has two distinctive features compared to existing solutions. The new model newly adopts commercialization success factor which reflects the risk of high technology based start-up company. And the new model excludes technology factor which is controversial among interested parties. The exclusion of technology factor will improve the objectivity of technology valuation and the adoption of commercialization success factor will solicit investor and capitalist who concern the high risk of technology based start-up companies. In conclusion, the improved new model is expected to activate technology trading and facilitate the money market through which high technology based start-up companies raise commercialization money.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.167-175
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• 2012

This paper study about how government start-up promotion policies have strongly impacts on business startup pattern and its performance. In Korea, the economic crisis of the late 1990s, the recession continues to stumble, and corporate restructuring occurs, let a small mass of unemployed, the Soho establishment 'Sojabon' started brewing two booms. Small business owners and their economic contribution to this portion of the axis with respect to support economic growth theory, on the basis that you need to install the Support Center for more small business owners and small business owners and social atmosphere, changing the term action to promote the establishment and growth of employment opportunities through by creating regional, has been promoting the balanced development of between business. This scheme focus on examining the types and characteristics of the government support schemes with respect to start-process business plan completion, financing capability, utilizing level of experts, location advantage, level of industry differentiation. Results of this study shows how significantly entrepreneurship influence on business startup pattern determining successful performance of business startup and let potential entrepreneur utilize it as to proceed business planning and establishing strategies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.49-62
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• 2016

Technology-based start-ups have great economic ripple effect such as economic growth and job creation. Therefore, a strategic approach is required in order for such start-ups to continuously grow. However, many technology-based start-ups do not survive the Death-Valley and are being eliminated from the market. This is an empirical study on influencing variables that have impact on their performance. This study presents growth intention and influencing variables that have impact on performance (financial performance, technological performance) based on previous research on technology-based start-up. Also, this study examines the relationship between entrepreneurial competence, team commitment and growth intention, and finds the effect of controlling business-network. Structural equation modeling was performed in order to test the research hypothesis. Survey was conducted on the firms that have been certified by Youth Startup Academy of Small and Medium Business Corporation. A total of 306 samples were collected from the survey. An empirical test was conducted on the research hypothesis using SPSS 21.0 and Amos 22.0. The result of hypothesis test shows that growth intention has positive influence on both financial and technological performance, and entrepreneurial competence (technological competence, strategic management competence, creative competence and team commitment) has positive influence on growth intention. Also, the research proved that business-network has regulation effect between human resource trait and growth intention. The result of our study will provide practical insight to future start-ups for continuous growth and successful running of their firm.

• Journal of the Economic Geographical Society of Korea
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• v.10 no.3
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• pp.344-353
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• 2007

Business incubators (BIs) could be regarded as an effective mechanism for linking research and industry to inspire technology and knowledge based entrepreneurship and innovation of start-up SMEs. The performance of BIs for small and medium enterprises (SMEs) innovation should be differentiated in accordance with the technology capacity of SMEs, the national entrepreneurial culture and characters in each economy. Therefore, the research intended to categorize BIs in the selected 10 APEC member economies into four types by investigating the issue of member economies' strategies, functions and characteristics in various focused programs.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2015.05a
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• pp.204-206
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• 2015

Nowadays, many small businesses have experienced the failure of business or hardship. In this point, specific and integrated information for startup business should be required to decrease the rate of failure and to increase the rate of success. This study is to suggest the integration and big data of various data which various public institutions have separately. For this purpose, it is to classify the data types in constructing big-data for start-up business and to suggest a model of analysis in information system for supporting startup businesses.