• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.1
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• pp.29-36
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• 2013

So many researchers have been interested in key success factors of technological start-ups. However, previous studies have not focussed on Concreteness of technological capabilities at the growth stages and industry in technological start-ups. The purpose of this study is to investigate the Concreteness of technological capabilities that have influence on performance of technological start-ups. Empirical data was collected from 342 firms in BI in Korea. It used the questionnaire method for the CEO, It is executed the Regression analysis to test hypotheses of influencing effects. Results of the hypothesis testing are summarized as follows: First, It was found that technological capabilities had statistically significant influence on firm performance. But the property based resources had lower significant influence. Second, This research found that the knowledge based resources had higher significant influence on technological start-ups performance at IT industry. Third, The knowledge based resources had higher significant influence on performance at growth stages. In conclusion, technological capabilities were verified as important firm resources of technology-based start-ups for firm performance. But the Concreteness of technological capabilities was significant differences by growth-stage of firms.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.47-57
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• 2020

This study focuses on the proposition that the qualities and environmental conditions required for exploring entrepreneurial opportunities and realizing entrepreneurial opportunities depend on the types of entrepreneurial opportunities. In particular, this study aims to identify the type of entrepreneurial opportunities for laboratory start-ups, which have recently been gaining policy level attention. If the type of entrepreneurial opportunities for laboratory start-ups is identified as discriminative, appropriate start-up support policies and training programs can be established. For this study, eight major papers were identified among the papers of last 30 years related to the types of entrepreneurial opportunities. After, the classification attributes for each opportunity type were derived. Then, the existing theories of recognition, discovery and creative opportunities were organized, critically reviewed and reorganized. In addition, the substance of laboratory start-ups was verified according to the standardized classification attributes of the revised and reorganized opportunity types and newly classified as 'creative opportunity'. This study also presents networking capabilities and market orientation as examples of the capabilities needed for entrepreneurs of creative opportunity type. The implication of this study is that it makes it easy to discriminate ontological typology of entrepreneurial opportunity, derives important classification attributes, and that it organizes them conceptually. In addition, it critically reconstructs the problems of confusion in the existing typology, and based on this, the type of entrepreneurial opportunities for laboratory start-ups is determined as creative opportunity. These achievements can contribute to the improvement of start-up policies and start-up training programs according to the types of entrepreneurial opportunity and laboratory start-ups in the future, resulting in realization of actual results at the start-up sites.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.119-133
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• 2024

As a result of significant investments by the government in promoting public technology commercialization and fostering a venture startup ecosystem, there have been quantitative achievements, such as the registration of over 1,600 Innopolis Start-ups since 2006, generating a total revenue of 1.1 trillion won as of 2021. However, these achievements have been overshadowed by critical qualitative challenges, including a continuous decline in average revenue per Innopolis Start-up. This led to a focus on whether managers' technological and market orientations affect business performance. This study aims to provide insights into improving the qualitative growth of Innopolis Start-ups by analyzing the effects of technological and market orientations on business performance, as well as the moderating effects of adjusting marketing and research and development (R&D) costs on this relationship. Through prior research and empirical analysis, this study derives three main findings. First, technological excellence and innovation significantly influence the business performance of Innopolis Start-ups, while technological intensity does not. Second, customer orientation and competitive orientation significantly impact business performance, whereas entry barriers as a single factor do not. Third, adjusting marketing and R&D costs, as controlled variables obtained through general situations, has no direct impact on other variables. However, it interacts with entry barriers, influencing financial business performance, with R&D costs exhibiting a negative buffering effect and marketing costs showing a positive enhancing effect. This study confirms that both technological and market orientations directly influence the business performance of Innopolis Start-ups, thus being crucial factors affecting their growth. Moreover, it establishes that investments in marketing and R&D play significant roles in alleviating initial entry barriers and enhancing financial performance. Consequently, it underscores the importance of reinforcing technological and market orientations tailored to the characteristics of Innopolis Start-ups. Additionally, it proposes five theoretical contributions: strengthening institutional support systems for technology commercialization and innovation, improving qualitative evaluation criteria during the selection process of Innopolis Start-ups, conducting comprehensive analyses of technological and market aspects during startup selection, enhancing support for marketing education and consulting for smooth market entry, and supporting expenditure strategies and milestone setting tailored to the industrial characteristics of individual Innopolis Start-ups.

• Korean small business review
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• v.43 no.4
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• pp.173-209
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• 2021

Start-up accelerators are a new type of investor that provide mentoring, education and seed capital to start-ups for a fixed duration and receive a certain stake in them in return. They help start-ups achieve successful commercialization. With increase in performance visibility, the number of private and public sector accelerators rose across domestic and international markets. Private sector accelerators are established and operated by private entities while public sector accelerators are established and operated by the government. Both play complementary roles that are becoming increasingly important to start-ups. Therefore, this study aims to examine the differences in major operational goals and investment determinants between private and public sectors and to understand their implications. The results show that the private sector prioritizes profit generation through the investment, while the public sector aims to contribute to the development of high-growth start-ups, and create region-specific and technology-specific start-up ecosystems. Additionally, both groups consider customer needs the most important determinant. Public groups are more conservative in investments and tend to place importance on objective indicators such as patents, partners, mentors, and co-founders. Conversely, private groups value the capabilities of founders and their ease of collaboration with accelerators. These findings can help start-ups get support from public or private accelerators more easily. It will also help public and private accelerators refine the criteria for selecting start-ups.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.625-645
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• 2018

This paper's objective is to draw a decision guideline to continue research and development (R&D) investments in biotech start-ups facing the "Valley of Death" syndrome - a long negative profit period during a financial crisis. The data include financial indices as Net income, Revenues, Total stockholders' equity, Cash & equivalents, and R&D expenses of 18 major biotech companies (nine in negative profit and nine positive, in FY2008) and 15 major pharmaceutical corporations as benchmarks both in FY2008 and in FY2016 derived from the US SEC Database, EDGAR. A first methodology dealing with real options analysis assumes Total stockholders' equity as a growth option. And a second methodology, Bayesian Markov chain Monte Carlo (MCMC) analysis, is applied to test the probability relationship between the Total stockholders' equity and the R&D expenses in these three groups. This study confirms that Total stockholders' equity can play the role of a call option to support continuing R&D investments even in negative profits.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.spc
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• pp.54-60
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• 2023

The government focuses on promoting start-ups, fostering ventures, and creating an ecosystem of start-ups through the formation of a strong growth environment for small businesses. This study provides academic and practical implications about ways of improving our business incubator's support service across stages of growth through IPA. To this end, an Importance-Performance Analysis (IPA) was conducted to analyze relationship and differences in importance and satisfaction of business incubator's support service support at business incubation center. These results present to provide the following academic and practical implications. The academic implications are the need for differences in support services for each phase of start-up growth. As factors that could increase the likelihood of successful start-up were identified in each phase of the start-up growth, important information needed for policy and strategy was provided. As a practical suggestion, the managers and expert groups are presented with sections to be opened for each start-up growth stage, minimum effort input, and areas to be maintained continuously. A systematic support plan is established and a foundation is provided for improvement measures in efficient start-up business incubator's support service.

• International Journal of Internet, Broadcasting and Communication
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• v.14 no.3
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• pp.222-229
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• 2022

Through this technology development, companies that operate online shopping malls and prospective startups will support education, consulting and expert group matching so that they can solve various issues that may arise in the course of the entire business life cycle, from startups to closures. It is expected that differentiated consulting programs will be designed for companies that currently operate shopping malls and start ups, and customized consulting programs will be provided to improve the effectiveness of consulting while improving customer satisfaction. It is planning to develop a "successful start-up and operation helper" that helps successful start-ups. It is a system that primarily diagnoses problems of prospective entrepreneurs and operators through an automation system at the start-up and operation stage, and professional consultants participate to derive and solve problems, and takes care of all stages of shopping mall birth and growth. In this paper Metaverse based shopping mall Creation is also discussed. Through Big Data creation these accumulated data, we intend to help operators start and operate shopping malls through accurate information by managing all knowledge of shopping malls as a system in the long run.

• Journal of Technology Innovation
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• v.31 no.2
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• pp.111-133
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• 2023

Innopolis start-up has become a representative model and path for commercialization of public technology. Along with the quantitative growth of innopolis start-up, the importance of innopolis start-up in national policies and institutional strategies related to public technology commercialization has also increased. However, over the past 16 years, innopolis start-up's establishment and growth have taken place in different ways at different times. This study aims to compare and analyze changes in innopolis start-up over the past 16 years, focusing on comparisons before and after 2014, when the establishment of innopolis start-up began to increase rapidly. Main findings are as follows. First, in the early stage of the quantitative expansion period, policy changes related to innopolis start-up were the main factors for the increase in innopolis start-ups. In addition, the rapid increase in the establishment of innopolis start-up after 2016 was largely influenced by changes in the start-up environment and institutional changes related to innopolis start-up. Second, the time of registration and size of the capital of innopolis start-up had a statistically significant effect on the sales for 3 years after registration. This result shows that with the rapid increase in innopolis start-ups, the need to build a customized support system for innopolis start-ups by size or growth stage has increased.

• Journal of Information Technology Services
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• v.16 no.4
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• pp.121-136
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• 2017

Recently, many people are interesting for Start-up and government also try to support their business because it can contribute economic growth. However, in Korea, despite there are many education and supporting programs for them, many Start-ups are failed to retain their business because they actually do not know what they do. Although prior studies for Start-up have pointed that education for them is very important for success, education programs for them only focus on theories rather than practices. Moreover, Start-ups need tools for supporting to business plans or information for their business. Therefore, in this study, we propose IT service functions for Start-up information system supporting Start-up competency. For this purpose, we conduct Delphi and Importance-Performance Analysis with experts on start-up. In experiments, we divided stage of business into three stages; business planning, implementation, growth and diversification. And we draw important tasks from experts in each stage. As a result, we find some tasks to concentrate for Start-up information systems. And we also find tasks which are not important for company founders. Through these results, we expect that the development of functions for supporting those important tasks will help increase the efficiency of Start-up companies and the survival rate of them.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.145-155
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• 2021

This study aims to examine the results of start-up policies of the previous government (2013-2017) and the current government (2017-2022). We would like to compare the perceptions of founders on the domestic start-up environment in 2016 and 2021. Based on the data (GETR) that surveyed the perception of the startup environment in 2016, a trend survey was conducted to compare the perception of the start-up environment of founders in 2021. As a result of the study, the founder's perception of the domestic start-up environment changed positively overall, but there was no significant change in the perception of 'tax adequacy', 'easy to recover investment', and 'easy to transfer technology'. In addition, the perception of the start-up environment of livelihood founders was negative compared to opportunity-type start-ups. As such, different results were found for each type of start-up. This study analyzed the difference in perception of the past and present start-up environment from the perspective of founders. In particular, I would like to propose a plan to improve the quality of the domestic start-up environment by seeking support measures for livelihood-type start-ups that have collapsed due to COVID-19.