• Journal of the Economic Geographical Society of Korea
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• v.3 no.2
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• pp.81-96
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• 2000

The study examines the present condition and prospects of venture firm accumulation center in the case of kwan-ak venture town. The survey shows most of companies have been founded since 1997. Their major items are software development and the average employees are under 10 workers. According to the questionary about the type of R&D and the level of innovation, technology innovation such as the development of new product is advanced whereas tacit innovation like inter-firm cooperation is very weak. And the source of idea and information is concentrated on the within-firms and research center As a result of the analysis of regional linkage, the dependence of production and R & D is large on kwan-ak-gu, but sales and information services have emphasis on Seoul area. In the light of the affiliation of inter-firm, they response sympathy with cooperation, but could not strengthen their commercial ties yet. At last, the policy for venture firm accumulation center must intend to make tacit measures through inventing of system instead of the simple means such as the assistance of location, finance and tax.

• Journal of Technology Innovation
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• v.26 no.4
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• pp.29-56
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• 2018

The purpose of this research is to examine whether investment portfolio composition affects the technological performance of corporate venture capital (CVC). The stages of investment are categorized from "start-up/seed", "early", and "expansion", to "later" stage. We posit and test that the investment stage composition in a portfolio is highly correlated with the growth potential and downside risk of the portfolio, which in turn influences an investor's innovation performance. To test this hypothesis, we used negative binomial panel regression with 21 years of deal data from 70 cases of CVC. The results show that there is an inverted U shaped relationship between investment portfolio composition and technological performance. This means that the more seed or early stage investment within the investment portfolio, the higher the innovation performance; however, if the amount of seed or early stage investment is over a certain level, the performance decreases. Further, this study finds that the external partners of a venture negatively moderate the inverted U shaped relationship between portfolio composition and innovation performance. We believe that corporate planners, venture capitalists, and policy makers will be helped by these results showing that companies can maximize their investment performance by considering the investment stage and progress of investments.

• Current Research on Agriculture and Life Sciences
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• v.3
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• pp.203-218
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• 1985

In Korea, the developmental gap is deep between rural and urban areas in spacial aspect and, or between agricultural and industrial side. So there are much room for improvement in agri. development in national standpoint as well as in individual farmer's level. In this respect, agricultural financing is requisitive to speed up the pace of agricultural development and in result, to contribute to improvement of farm income. By the way, farmers' credit demands are always in excess-demand status and they rely on private money-lenders in the burden of high interest rate. In agricultural financing market, there are two kinds of credit ; institutional credit and non-institutional credit market, that is private money-lending. In institutional credit, there are mutual credit system operating by the primary coops and policy credit system by NACF financed by Government in part. Here, in this paper, I venture to study on the improvements of the policy credit system to increase and activate the supply function of agri. policy credit into farmers to enhance their socio-economic status.

• Journal of Information Technology Applications and Management
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• v.15 no.1
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• pp.117-137
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• 2008

Using the service innovation system model, the development of Korean online game industry is analyzed. The model proposed by Gallouj (2002) is modified in order to reflect IT service characteristics such as network externalities. Success factors and innovations patterns of Korean online game industry are examined. First, at the early stage of her growth, Korean online game industry was not supported or coordinated by any Government policies unlike DRAM, CDMA or TFT-LCD. Many parts of technical and service innovations were unintentionally initiated by online game developing ventures without predeterminde strategies. Second, the online game industry is basically a service industry so that users' needs and technical and service characteristics are intertwined to produce innovation. The innovation system of the online game industry is quite different from conventional product technological innovation systems in a sense that there are no blueprints for innovation as well as major players in the system. Third, Government's policies for promotion of IT industry such as the broadband infrastructure installation policy, the hi-tech venture promotion policy and the military exemption policy contributed greatly to development of the online game industry. However, these policy tools were not intended for online game industry but in the end gave a great impact on the service innovation system of the online game industry.

• KDI Journal of Economic Policy
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• v.28 no.1
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• pp.219-231
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• 2006

This paper presents a dynamic analysis of the interaction between incumbent firms and successful new entrepreneurs, that can provide R&D incentives when innovations are cumulative/sequential. It is argued that the insights of the basic model extend to varying market structures and regulatory environments.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.53-63
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• 2017

With increasing the importance of venture startup in the national economy, a trend shows that the government's policy support for venture startup is not only strengthened, but also entrepreneurial enthusiasm is increasing. In order for this trend to continue as an ongoing phenomenon, not a temporary phenomenon, venture startups should continue to grow with survival competitiveness. In this respect, there is a time when it is necessary to study the factors affecting the success of venture startups more than ever. There is a limit to seeing main factors, which affect the entry into the growth stage with survival competitiveness for the success of venture startups, as only 'entrepreneur capacity' and 'differentiation strategy' claimed by existing previous studies. As a more fundamental factor, entrepreneurial behavior is important in terms of opportunity discovery and opportunity utilization, but research into this falls short of expectations. This study is intended to look into success factors of venture startup. To achieve this, a survey was empirically carried out to CEOs in 100 small and medium venture startups through AHP analysis. The results are as follows. As stated above, entrepreneurship of success factors in venture startups is considered most critical, followed by innovation, economics, and technology. And 'entrepreneur's competency', 'positive entrepreneurial motivation', 'creative technology utilization', and 'continuous investment in technical development' are considered most critical for 'entrepreneurship', 'innovation', 'technology', and 'economics' as sub-factors, respectively. Consequently, entrepreneur's entrepreneurship that has been required in general startups is a critical factor to be also in common required in venture startups. This means that they can secure the competitiveness of venture startup along with continuous investment support in business startup with a positive mindset and their own technological competence as innovators to overcome the risk and uncertainty of business startup as entrepreneurship that marks the start of a new enterprise.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.235-251
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• 2020

This study aimed to confirm the quality of exhibitions and the effectiveness of government's policy support for small and medium-sized companies seeking to help companies expand overseas marketing and improve their performance through participation in overseas exhibitions. For the purpose of empirical analysis, the survey was conducted directly to exhibitors of companies participating in overseas exhibitions with the support of government for three years from 2016 to 2018. As a result, the quality characteristics of overseas exhibitions had a significant positive influence on re-participation intention, and the influence was the most important in organizer's capacity, followed by exhibition reputation and exhibition environment. In addition, quality characteristics had a significant effect on participation performance, and participation performance had a partial mediating effect on re-participation intention. The government's policy support had a significant moderating effect between participation performance and re-participation intention, and the conditional indirect effect (adjusted mediating effect) on the effect of quality characteristics on re-participation intention through participation performance. This study has an academic significance in confirming the mediating effect of participation performance and the moderating effect of government policy support.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.7
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• pp.1696-1701
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• 2009

In this paper we analyzed the management performance as the result of the korean government's support policy for the small and medium sized business (SMB). The governmental support policy was carried out for the companies classified in 3 criterion. The first is the upbringing of dynamic SMB group, which are driven by creativity and innovation. The second is the enforcement of technology-innovation and cooperation for SMB. The last is the establishment of the growth basis for SMB like funds, human resources and distribution channels. After categorization of above 3 classes, the affect of support policy on the management performance is analyzed, in terms of 3 aspects, management performance, technical performance and policy satisfaction. This study shows that the governmental support policy has the remarkable effects on the financial support sector of SMB. The 5 major sectors, 1) the upbinging of venture-innobiz innovation company, 2) rearing funds of knowledge-based service company, 3) R&D support, 4) support of management stability fund, 5) expansion of distribution channel to the public sector, are designed from 24 variables. The 3 sectors of these 5 are have the main influences from governmental support policy.

• Asian Journal of Innovation and Policy
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• v.4 no.2
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• pp.178-199
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• 2015

This study provides a background on the growth of Indian automobile industry under different regulatory regimes. It is observed that the international joint ventures have played a key role in the growth of the sector. The study further examines the motives for forming IJVs in the auto component sector and also identifies the criteria for choosing the joint venture partner to mitigate conflicts. These two specific attributes form the core towards transfer of technology, promoting innovation and also act as a catalyst for adopting and choosing appropriate technology. The study brings out the relationship between motives, partner selection criteria and performance of the IJVs. Results indicate that firms gave maximum importance to technological skills, quality control measures and proprietary knowledge in selecting IJV partners. It is also observed that the motives affect the partner selection criteria in terms of skill and resources needed from the partner.

• Asian Journal of Innovation and Policy
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• v.5 no.2
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• pp.129-145
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• 2016

This is a case study to analyze the role of technology licensing or transfer office (TLO) as factors of success for the spin-off from government research lab. The case company is a research lab startup, which is a joint venture through technology investment by a government research lab or university in the designated R&D parks and cash investment by the partner company. The case company listed on the stock market in 2015 reaching a market capitalization of US$ 1.2 billion. We confirm the success factors of startups pointed out in many studies: original technology, good understanding of core technology and production technology, technological competitiveness in the market. However, there is an important factor not well discussed in the previous studies, the role of TLO. TLO guided the company ownership, management, technology, and solved problems that pause business itself. The case became the sample of research lab startup and technology investment in Korea.