• Journal of Venture Innovation
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• v.7 no.1
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• pp.59-75
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• 2024

As the 4th Industrial Revolution progresses, the importance of startups was increasingly emphasized. Nevertheless, the five-year survival rate of Korean startups was lower than that of OECD countries. In this study, we analyzed the relationship between agile leadership, learning agility, and organizational performance of startups under the premise that organizational performance was most important for startups to achieve sustainable growth. For the empirical analysis, agile leadership was set as an independent variable, learning agility was set as a mediating variable, and organizational performance was set as a dependent variable. Data was collected from startup employees across the country, and 197 valid samples were selected for analysis. The empirical analysis used Process Macro 4.2. As a result of the empirical analysis, agile leadership was found to have a significant positive effect on startup organizational performance. Additionally, agile leadership had a positive (+) effect on learning agility, and learning agility had a positive (+) effect on startup organizational performance. As a result of analyzing the mediating effect of learning agility, learning agility was found to play a mediating role between agile leadership and organizational performance. Academically, these research results tested the usefulness of agile leadership suited to the startup culture among various leadership styles that can improve the organizational performance of startups. In practical terms, such agile leadership not only directly affects organizational performance, but also through the learning agility of startup employees. This means that by creating a culture of learning agility that encourages startup employees to continuously learn and adapt, startups can increase their chances of survival and success.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.1
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• pp.31-41
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• 2018

The purpose of this study is to look at the difference between the importance and the satisfaction with respect to government startup aid programs perceived by entrepreneurs to improve the effectiveness of government startup aid policy and verify the causal relationship between startup aid project and business performance. In this respect, this study aims to look at the impact of entrepreneurs' perceived satisfaction over government startup aid programs on startup business performance. Major study findings from this study are as follows. First, as a result of testing statistical significance of the difference between importance and satisfaction in startup education, facility/space, consulting, or fund support field, respectively in start-up assistance project, it appeared that there was a significant difference in all fields. In addition, fund support was the field that showed the biggest difference between importance and satisfaction. Second, the results of IPA (importance-performance analysis), which displays relative importance and performance of start-up assistance project on four quadrants so that entrepreneurs can evaluate which start-up assistance projects they think important and which projects they are satisfied with by themselves are as follows. Let us summarize the distribution of start-up assistance project on four quadrants in the first place. Facility/space support project is distributed in the 1st quadrant that requires ongoing maintenance; start-up funding program in the 2nd quadrant that requires concentrated improvement; consulting support project in the 3rd quadrant that requires limited use at low priority; and start-up education support project in the boundary between the 3rd quadrant that requires limited use and the 4th quadrant that requires rejection against unnecessary items. Third, the results from multiple regression analysis to identify the impact of satisfaction with government startup aid programs over business performance are as follows. As a result of analyzing the influence relationship between government startup aid program and financial performance, it appeared that satisfaction with facility/space had a positive (+) impact on financial performance. This suggests that the higher the satisfaction with facility/space, the higher the financial performance. As a result of analyzing the influence relationship between start-up assistance project and non-financial performance, it appeared that satisfaction with startup education had a positive (+) impact on non-financial performance. This suggests that the higher the satisfaction with startup education, the higher the non-financial performance.

• Journal of Korean Society for Quality Management
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• v.45 no.3
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• pp.463-481
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• 2017

Purpose: This study provide the matching mechanism between startup and business incubator to enhance managerial performance of business incubator. In addition, we propose the differentiation strategy for business incubator based on the needs of startups. Methods: In order to carry out the research, we surveyed 216 startups who already have invested in venture capitals and angel investors and currently residing in business incubator and 30 venture capitals and angel investors. Based on survey results, we develop a business incubator capability table matching startup with business incubator. Results: Satisfaction and importance of the supporting programs varied depending on the startup experience and startup lifecycle. As a result, we recommended a R&D center for machinery/material, bio/medical and electric/electronics startups and individual office for ICT and knowledge service startups. In addition, we suggested a differentiation strategy to BI in university specialized for machinery/material, privately operated BI for electric/electronic, (local)government, R&D center and individual office for knowledge service respectively. Conclusion: In this study, business incubator capability table is applied to match startup with business incubator and it could be applied to evaluate the current status of business incubator. Furthermore, it will help to establish a future strategic direction for business incubator.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.187-199
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• 2018

This study examined the effects of startup firm's knowledge assets on the effectiveness of their sales strategies, efficiency of sales activities, and management performance, after categorizing these assets into customer knowledge assets and technology knowledge assets. Furthermore, the moderating effects of promotion focus by CEOs and sales managers of startup firms were analyzed. For the analysis, dyadic questionnaire surveys were conducted targeting the CEOs and sales managers of startup firms established at the Gyeongnam Technopark and the KAIST Technology Business Incubation Center in Korea. Hypotheses were verified through structural equation modeling, and moderating effects were identified through ANOVA. CEO's customer knowledge asset strengthened their effectiveness of sales strategies, and sales manager's technology knowledge asset strengthened the efficiency of their sales activities. Also, CEO's effectiveness of sales strategies and sales manager's efficiency of sales activities have been found to enhance startup firm's management performance. Meanwhile, the moderating effect of promotion focus strengthened CEO's effectiveness of sales strategies through CEO's customer knowledge asset and interaction as CEO's promotion focus level increased, but promotion focus of sales managers did not have any significant interaction effect. This study provides implications by offering empirical evidence on startup firms with regard to knowledge assets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.101-114
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• 2022

Recently, various studies on the entrepreneurial ecosystem have been conducted. The entrepreneurial ecosystem is composed of various elements such as entrepreneurs, governments, and infrastructure, and these factors interact to contribute to economic development. The purpose of this study was to analyze differences in importance and performance of the entrepreneurial ecosystem for startups using the importance-performance analysis (IPA) method. Based on this, the importance and current level of the components of the entrepreneurial ecosystem were identified and policy implications were presented. The results of the study are as follows. The importance ranking was in the order of startup support program(4.43), startup funding (4.39), market accessibility(4.30). The ranking of performance was startup support program(3.81), ease of starting a business(3.76), support for startup support institutions(3.66), and startup funding(3.66). All elements of the entrepreneurial ecosystem showed higher importance than performance. This means that the components of the entrepreneurial ecosystem in Korea are recognized as important, but do not play a significant role in terms of performance for startups. In addition, the factors with the highest improvement in the importance-performance matrix were 「safety nets for startup failure」, 「culture of acceptance of failure」, 「ease of market entry」, 「ease of startup survival」, and 「ease of exit」. This study suggested improvement measures such as establishing a social safety net, improving awareness of startup failure culture, matching successful startups, strengthening scale-up support by growth stage, easing regulations in new business fields, and diversifying investment recovery strategies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.1027-1033
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• 2020

This study intends to improve job performance during the Covid-19 pandemic at startup companies in Indonesia. In this study, the variables tested were job satisfaction, job innovation, Indonesian culture control, and job performance. Increasing job performance is deemed necessary in facing the economic crisis caused by the Covid-19 pandemic. Job innovation, job satisfaction, and culture control are deemed necessary in improving job performance. The population of this study are managers of start-up companies in Jakarta, Banten, and West Java. This research data obtained by distributing questionnaires to startup managers. This is a quantitative study with primary data. The sample technique used was purposive sampling. Structural Equation Model using Partial Least Square statistical software was used to analyze data. The results of this study indicate a change in the pattern of work performed by startup companies in running their business. Before the Covid-19 pandemic, employees worked in offices for seven hours, but after this pandemic, they change work patterns, moving them to work from home. Working from home requires companies to exercise better control and leadership patterns so that employees can work comfortably.

• International Journal of Advanced Culture Technology
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• v.12 no.2
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• pp.167-179
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• 2024

This study addresses the challenge of objectively evaluating the performance of early-stage startups amidst limited information and uncertainty. Focusing on companies selected by TIPS, a leading private sector-driven startup support policy in Korea, the research develops a new indicator to assess technological efficiency. By analyzing various input and output variables collected from Crunchbase and KIND (Korea Investor's Network for Disclosure System) databases, including technology use metrics, patents, and Crunchbase rankings, the study derives technological efficiency for TIPS-selected startups. A prediction model is then developed utilizing machine learning techniques such as Random Forest and boosting (XGBoost) to classify startups into efficiency percentiles (10th, 30th, and 50th). The results indicate that prediction accuracy improves with higher percentiles based on the technical efficiency index, providing valuable insights for evaluating and predicting startup performance in early markets characterized by information scarcity and uncertainty. Future research directions should focus on assessing growth potential and sustainability using the developed classification and prediction models, aiding investors in making data-driven investment decisions and contributing to the development of the early startup ecosystem.

• 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.

• Transactions on Control, Automation and Systems Engineering
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• v.1 no.2
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• pp.141-146
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• 1999

This paper describes the communication method of an auto-startup system. The Auto-Startup system is designed to operate a nuclear power plant automatically during the startup operation . In general , the operations during startup in existing plant have only been manually controlled by the operator. The manual operation caused to the operator mistake. The Auto-Startup system consists of the Distributed Control System(DCS) and G2 (Expert System). Also, Functional Test Facility(FTF) provides the plant's real-data for an Auto-Startup system. So, it is necessary to develop the communication method between these systems. We developed two methods ; one is a network and the other is a hardwire line. To communicate between these systems (DCS-G2 and DCS-FTF) , we developed the communication program. In case of DCS-FTF, we used the TCP/IP and VXI. BUt, in case of DCS-G2 , we , what it called , developed the bridge program using the GSI(G2 Standard Interface). We test to check the function of the important parameter, in time, for analysis of the developed communication method. The results are a good performance when we check the communication time of important parameter. We conclude that Auto-startup system could save heat-up time about at least 5 hours and reduced the change of the reactor operation and trip.

• Journal of Venture Innovation
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• v.5 no.2
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• pp.15-34
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• 2022

Many countries, including Korea, have established and operated various startup supporting programs to revitalize youth entrepreneurship. This study aims to identify the current status and characteristics of the major startup supporting programs currently operated in Korea and propose development plans for future startup supporting programs through analysis of the startup supporting systems of major countries. By analyzing the success factors of domestic and foreign startup supporting systems, we suggested improvements that can be operated more effectively in the areas of financial support, selection process, education and mentoring, networking, publicity and branding, and follow-up management by operated startup supporting programs. In addition, improvements for performance evaluation indicators of startup supporting programs were suggested and limitations of the study were presented.