• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.33-43
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• 2023

The paper employs a resource-based approach to analyze the relationship between institutional resources and faculty-led startup formation and performance in South Korean four-year universities from 2017 to 2021. The author proposes nine hypotheses to explain how institutional resources or systems affect the number of faculty startups, their employee numbers and the revenue of faculty-led startups, and compare four different groups of university resources for cross-college variation. The findings suggest that institutional factors impacting faculty-led startup performance differ from those impacting other categories of startups. Universities should provide a more favorable environment, including flexible personnel policies and accompanying startup support infrastructure, to encourage faculty-led startups. In contrast, it is more effective for better performance of faculty startups, in terms of their job creation and revenue, to have more financial resources and good paper publications. The results also suggest that university technology-holding companies are crucial for increasing the number of professor startups and their performance. These findings have implications for both university and government policymakers, who aim to facilitate greater participation of professors in startup formation and commercialization of technology.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.19-34
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• 2021

The government budget for promoting startup have been skyrocketed as catching up with increasing demands for high-tech startup by disruptive innovation resulted from rapid technology change. However, major trend of startup have still fallen on self-employed type of startup due to the lack of expertise and fund in spite of desperate government policy efforts. In reality, the access to high-tech startup has been very limited and too high huddle to would-be entrepreneur. This paper implement empirical analysis on the effects of entrepreneur competency and satisfaction level to government support, considering these as the KSF for the growth and success of high-tech startup, to the performance of the company. In particular, it focus on defining unique characteristics of high-tech startup through differential proving by the backgrounds of entrepreneur such as major, R&D experience, patent possession, CTO possession. This research carry out survey to 217 entrepreneurs in high-tech company in Daejon and Daegue at R&D Special Innopolis Zone. Research results are as follow. First, entrepreneurial achievement competencies, conceptualization competencies, network competencies and market recognition competencies positively affect the financial and non-financial performance and organizational and technical competencies, while organizational and technological competencies only positively impact on non-financial performance. Second, the satisfaction level of government support showed a positive moderating effect on entrepreneurial achievement competencies and financial performance, while no significant effect in other competencies. Third, positive differential effect by the technological background of entrepreneur such as Major, R&D experience, patent possession, CTO possession) have been confirmed. This paper deliver several significant implications and contributions, First, it propose classified and systematized entrepreneur competency through the domestic and foreign literature reviews. Second, it proves the need for the wider spread of team based startup culture rather then sole startup. Third, it also proves the important role of technological background of entrepreneur among the characteristics of high-tech startup.

• The Journal of Sustainable Design and Educational Environment Research
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• v.20 no.4
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• pp.13-20
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• 2021

In the world, each country is preparing various policies to promote start-ups, and the Korean government is actively promoting policies to support start-ups and the national economy through technology-based start-ups for creating jobs. Recently, the number of start-up companies is on the rise. In particular, in accordance with the industrial structure transformation leading the 4th Industrial Revolution, technology-based start-ups are steadily growing based on knowledge-based services such as information and communication, science and technology service industry, and business support service industry. The purpose of this study is to find out whether the startup space provided by the university reflects the startup-friendly characteristics, and to investigate and analyze the satisfaction and requirements of the space required by the actual college campus startup space users to create a more efficient space configuration plan. Through this study, factors that should be considered first for universities in preparing startup spaces were derived for each space element. Therefore, it is necessary for university campuses to deeply recognize the importance of space provision among the future start-up support systems, and to improve them periodically through the consumers' satisfaction of the space in the construction and improvement of startup spaces.

• Korean Chemical Engineering Research
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• v.51 no.5
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• pp.540-544
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• 2013

During start up and shut down of a proton exchange membrane fuel cells (PEMFC), the performance and lifetime of PEMFC were reduced. In this study, effect of startup and shutdown were investigated in dead-end type PEMFC using oxygen as a cathode gas with polarization curve, impedance spectroscopy (EIS), scanning electron microscopy (SEM) and transmission electron microscopy (TEM). Dummy load which eliminates residual hydrogen and oxygen during startup and shutdown operation should be applied to mitigated the degradation of PEMFC performance. At 50% relative humidity (RH) under the repetitive on/off cycling, the cell performance decayed faster than at 100% RH because of corrosion of the cathode carbon support. Water suppling into cell reduced the degradation rate of dead-end type PEMFC during start up and shut down cycling at 50% RH.

• Asia Marketing Journal
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• v.21 no.4
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• pp.59-76
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• 2020

Though crowdfunding has emerged as a cost-effective means to market innovative products and a channel for financial resource acquisition, our understanding about what makes a successful crowdfunding is still limited. This study is motivated by the presence of the inconsistency that both entrepreneurs and investors pay more attention to capabilities required for developing prototype products rather than capabilities needed to deliver the promised products in crowdfunding. By drawing insights from studies about liability of newness and legitimacy in institutional theory, this study argues that startups can overcome the liability of newness, earn investor trust, and successfully complete crowdfunding campaigns by effectively presenting visible and invisible capabilities. This study presents a set of testable propositions predicting the likelihood of crowdfunding success and explains the theoretical and practical value of the proposed conceptualization of startup capabilities.

• International journal of advanced smart convergence
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• v.13 no.2
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• pp.44-47
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• 2024

With the advancement of Internet technology, online sales and purchases of products have become active. Along with this, the importance of user reviews is also being highlighted. Although user reviews are actively utilized for product sales and purchases, it is difficult to quickly and easily obtain useful information due to the abundance of user reviews. Therefore, prioritizing user reviews is a necessary service for customers that requires careful consideration. Metadata, which contains important information, can be effectively used to prioritize user reviews. However, it is crucial to select and use metadata appropriately according to the purpose. Lean Startup proposes a strategy of repeatedly correcting the problems of ideas or making early transitions to continue trying different approaches. In this paper, we propose a three-step method applying the Lean Startup process to analyze ways to prioritize user reviews using metadata: Build Priority, Measure Priority, Learn Priority.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.13-35
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• 2020

Startup accelerators are a new type of investors providing a certain amount of shares for imparting education, mentoring, networking, and providing space and seed money that can directly resolve the difficulties faced by nascent entrepreneurs (Clarysse, 2016). Startup accelerators have expanded worldwide as their influence over the startup ecosystem has increasingly been established (Pauwels et al., 2016; Cohen & Hochberg, 2014). This study was conducted to derive investment determinants of startup accelerators that are emerging as major investment players around the world. To this end, the accelerator-type determinants of investment were derived. As previous research on this topic is nonexistent, this process involved qualitative meta-synthesis, literature reviews, observation, and in-depth interviews. First, more than 30 research papers were examined for the determinants of investment for firms at an early stage of their foundation, and the categories and determinants of investment in the relevant studies were comparatively analyzed using qualitative meta-synthesis. Further, related data were investigated to identify the characteristics of accelerators, and the startup evaluation process of US accelerators was studied. The more than 100 questions raised during this process were coded to examine the determinants of investment that accelerators considered important. In-depth interviews were conducted with four US accelerators to identify the characteristics of accelerators and key determinants of investment. Ultimately, 5 categories of accelerator-type determinants of investment and 26 subordinate determinants of investment were derived. The results were verified and supplemented by consulting with seven accelerators in Korea. The results were confirmed after pilot tests and verification by seven domestic accelerators. After confirming the accelerator-type determinants, the reliability of them was verified by examining the importance and priority of each category through the quantitative survey of Korean accelerators. The research that elicited the accelerator-type investment determinants is the first research and is expected to be a major reference to the progress of subsequent studies. This research that systematically derived the investment determinants of the accelerator is expected to make major contributions to the progress of follow-up studies, the process of selecting startups, and the investment decision-making process of the accelerators.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.31-42
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• 2021

The importance of startups and ventures in the Korean economy is growing. This study measured whether the start-up and venture ecosystem is growing, including the growth of startups and ventures. The startup and venture ecosystem consists of startups and ventures, investors, and government, which are the main actors of the 'ecosystem', and their movements were measured with 25 quantitative indicators. Based on the original data of the time series from 2010 to 2020, the startup and venture ecosystem index was calculated by applying weights through the comprehensive stock index method and AHP. In 2020, the startup and venture ecosystem grew 2.9 times compared to 2010, and the increase in the government index had a significant impact on growth. Also, the individual indicators that make up each index in 2020, the corporate index had the greatest impact on the growth of the number of 100-billion ventures, while the investment index had a recovery amount and the government index had a significant impact. Based on the original data, the startup and venture ecosystem index was analyzed by dividing it into ecosystems (startup ecosystem and venture ecosystem), industry by industry (all industries and manufacturing industry), and region (Korea and Busan). As a result, the growth of the startup ecosystem over the past decade has been slightly larger than that of the venture ecosystem. The manufacturing was lower than that of all industries, and Busan was lower than that of the nation. This study was intended to use it for the establishment and implementation of support policies by developing, measuring, and monitoring the startup and venture ecosystem index. This index has the advantage of being able to research the interrelationships between major actors, and anyone can calculate the index using the results of official statistical surveys. In the future, it is necessary to continuously update this content to understand how economic and social events or policy support have affected the startup and venture ecosystem.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.43-60
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• 2023

Although the importance of starting a business is being emphasized, it is not easy for a start-up to survive. Therefore, it is necessary to come up with a plan to strengthen startup satisfaction and improve the survival rate of startup companies. In this study, we examined the impact of start-up motivation, start-up capabilities, and start-up passion of start-up companies on start-up satisfaction, as well as the moderating effect according to the founding type of general start-up companies and startups. Entrepreneurship motivation was divided into self-actualization motivation and pro-social motivation. Entrepreneurship capabilities were divided into marketing capabilities and experience capabilities. Entrepreneurship passion was divided into harmonious passion and obsessive passion. Empirical analysis was conducted by receiving surveys from 361 managers of general and startup companies within 7 years of founding their businesses online and offline. As a result, self-actualization motivation, pro-social motivation, marketing competency, experiential competency, and harmonious passion had a significant positive (+) effect on startup satisfaction. However, obsessive passion did not have a significant effect. In addition, the magnitude of influence on startup satisfaction appeared in the following order: harmonious passion, marketing competency, self-actualization motivation, pro-social motivation, and experiential competency. The moderating effect according to the type of founding of general start-ups and startups was found in pro-social motivation, experience competency, and passion for harmony. However, there was no significant moderating effect between self-actualization motivation, marketing competency, obsessive passion, and entrepreneurship satisfaction. This study presented academic implications that harmonious passion and marketing capabilities are important factors in improving startup satisfaction. In addition, practical and policy implications were presented, including the need for programs to support the psychological stability of startup business owners, strengthening startup capabilities through experts, and strengthening startup education programs that can foster self-actualization motivation and pro-social motivation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.2
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• pp.95-111
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• 2023

Korea has achieved a high startup rate by promoting government-led startup policies for national economic and industrial development. However, as high as the startup rate is, the closure rate of startup companies can be judged to be insufficient for the qualitative growth of the domestic startup ecosystem. This study aims to investigate how to improve the survival rate of startups by overcoming the valley of death from a location environment perspective. It analyzes the effects of technology orientation and market orientation of start-ups on management performance and the moderating effects of economic, accessibility, and network factors that constitute the location environment. To achieve the research objectives, the empirical analysis was conducted on start-up companies that received corporate support projects from innovation intermediary organizations. The results show that R&D capability of technology orientation has a significant effect on management performance, and market information generation and market information response of market orientation have a significant effect on management performance. As for the moderating effect, accessibility, a sub-factor of the location environment, has a positive moderating effect on the relationship between technological innovation and managerial performance, and the location environment (economy, accessibility, and network) has a positive moderating effect on the relationship between market information generation and managerial performance. This study compared and analyzed previous studies on the success and failure of start-ups and identified common factors. In addition, this study provides policy implications for the sustainable growth of startups through empirical analysis and interview with stakeholders. For future research, it is necessary to compare and analyze start-ups in metropolitan areas and non-metropolitan areas. In addition, it is necessary to study startups that have moved out of the region and into the metropolitan area to find ways to develop the regional startup ecosystem.