• Title/Summary/Keyword: 벤처산업

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The Study on the Effects of Technology Orientation and Market Orientation on Managerial Performance in Innopolis Start-ups: Focusing on the Moderating Effects of Marketing and R&D Expenses (연구소기업의 기술지향성과 시장지향성이 경영성과에 미치는영향: 마케팅 및 연구개발 비용의 조절효과를 중심으로)

  • Kwon, Haram;Yang, Young Seok
    • 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.

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A Study on the Born Global Venture Corporation's Characteristics and Performance ('본글로벌(born global)전략'을 추구하는 벤처기업의 특성과 성과에 관한 연구)

  • Kim, Hyung-Jun;Jung, Duk-Hwa
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.39-59
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    • 2007
  • The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

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A Study on the Management System of Special Organization for University Technology Transfer and Commercialization (대학 기술이전.사업화 전담조직 운영제도의 성과와 과제)

  • Yoon, Chongmin
    • Journal of Korea Technology Innovation Society
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    • v.16 no.4
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    • pp.1055-1089
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    • 2013
  • These days, the environment surrounding university has been changing rapidly and largely. Especially, the academic entrepreneurship for university spin-offs and wealth creation is being emphasized. And therefore, the importance of industry-academy-research institute cooperation for technology transfer and commercialization is increasing more and more. According to that, government have made various legal system and support the university activities for their autonomous and practical technology use, and one of that core means is to make university establish the special organization for technology transfer and commercialization, and support its activities systematically. This paper aims to study legal system on the special organization for university technology transfer and commercialization in korea. Especially, it is layed emphasis to search the problems and find out the improvement ways about the special organization. For this purpose, the legal system and necessity of special organization in university and other research institute are reviewed in domestic and abroad, the type and operation methodology of special organization in the existing laws are investigated in korea, the operation effects of several organization are analyzed, and lastly the improvement methods for activating the organization are studied and suggested.

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The Profit Sharing and Efficiency of a Joint Venture (공동사업의 이익분배와 효율성)

  • Wee, Jung-Bum;Jun, Sang-Gyung
    • The Korean Journal of Financial Management
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    • v.25 no.1
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    • pp.177-196
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    • 2008
  • The megatrend of convergence in finance, telecommunication, and service industries is being spread over the whole industry. It has generated various kinds of contractual alliance or joint venture. Our paper builds a theoretical model for the profit sharing between two firms that participate in a joint venture. The model shows how the profit sharing rule affects the incentives of the participants, and, eventually, the efficiency. We derive the first-best solution of the profit sharing, where no incentive distortion exists. Then, we compare the incentive-affecting cases with the first best outcome, and assess the efficiency and the fairness of distribution. Our analysis shows that if we properly design the decision-making structure on transfer price and production quantity, we can reach the socially optimal efficiency.

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Anti-Obesity and Lipid Lowering Effect of Discorea japonica Thunb. Fermented with Monascus in High-Fat Diet Induced Obese C57BL/6J Mice Model (고지방식이로 유도된 C57BL/6J 마우스 비만모델에서 참마홍국발효의 비만 억제 및 지질 저하 효과)

  • Oh, Deuk Chang;Kang, Soon Ah
    • The Korean Journal of Food And Nutrition
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    • v.34 no.5
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    • pp.526-536
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    • 2021
  • This study was conducted to investigate the anti-obesity effect of Discorea Japonica Thunb. fermented with Monascus After inducing obesity by feeding hight fat diet (diet induced obesity model: DIO) for four weeks, each 8 rats were assigned to normal (Nor), high fat diet (HF), high fat diet containing orlistat (PC), high fat diet containing different concentration of Discorea Japonica Thunb. fermented with Monascus (UPDM_L, UPDM_H) and Discorea Japonica Thunb. (UPD) extract. Although the UPD, UPDM_L (ultrafine pulverized Discorea Japonica Thunb. fermented with Monascus: 400 mg/kg) and UPDM_H (DIO oral administration ultrafine pulverized Discorea Japonica Thunb. fermented with Monascus: 800 mg/kg) showed weight gain inhibition effects, the results of poor obesity inhibition rather than PC were confirmed. However, it showed a more effective weight loss effect in UPDM_H than UPD, and significantly reduced the weight of epididymal fat and subcutaneous fat. Furthermore, the possibility of anti-obesity effects of Discorea Japonica Thunb. fermented with Monascus can be confirmed by observing the effects of reducing serum total cholesterol, triglyceride and LDL concentrations, reducing ALT and AST levels, and inhibiting fat build-up in liver tissue. It is believed that Discorea Japonica Thunb. fermented with Monascus can be expected to utilize as a functional material that is important to improve anti-obesity and metabolic syndrome.

Earthquake Damage Assessment of Buildings in Urban Area using Disaster Management Platform (재난관리플랫폼을 이용한 도심지 건물군의 지진피해평가)

  • Jang, Sung-Hyun;Kwon, Dong-Hee;Hwang, Chan-Gyu;Choi, Soo-Young;Chey, Min-Ho
    • Journal of the Korea Convergence Society
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    • v.10 no.6
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    • pp.25-31
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    • 2019
  • Because of its physical characteristics, earthquake has a great impact on a wide area in a short time, so it needs a resilience based seismic countermeasures to restore the community function. For this reason, in this study, the seismic damages of urban buildings were assessed stochastically by virtual earthquakes using public data information and disaster management program(Ergo-EQ). A geographical map reflecting geological characteristics of the target area was created with the buildings and topographic data in Dalseo-gu, Daegu City. In addition, an integrated database including building characteristics was modified to be linked with the Ergo-EQ program. The seismic damages for the buildings were evaluated through the exceedance probability of four different damage levels. From the damage results, it can be identified not only the seismic damage of each building, but also the major factors affecting earthquake damage.

Global Technical Knowledge Flow Analysis in Intelligent Information Technology : Focusing on South Korea (지능정보기술 분야에서의 글로벌 기술 지식 경쟁력 분석 : 한국을 중심으로)

  • Kwak, Gihyun;Yoon, Jungsub
    • The Journal of the Korea Contents Association
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    • v.21 no.1
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    • pp.24-38
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    • 2021
  • This study aims to measure Korea's global competitiveness in intelligent information technology, which is the core technology of the 4th industrial revolution. For analysis, we collect patents of each field and prior patents cited by them, which are applied at the U.S. Patent Office (USPTO) between 2010 and 2018 from PATSTAT Online. A global knowledge transfer network was established by grouping citing- and cited-relationships at a national level. The in-degree centrality is used to evaluate technology acceptance, which indicates the process of absorbing existing technological knowledge to create new knowledge in each field. Second, to evaluate the impact of existing technological knowledge on the creation of new one, the out-degree centrality is investigated. Third, we apply the PageRank algorithm to qualitatively and quantitatively investigate the importance of the relationships between countries. As a result, it is confirmed through all the indicators that the AI sector is currently the least competitive.

A Study on Data Compliance Measures of Digital Healthcare Service - Focusing on Personal Information Lifecycle (디지털 헬스케어 서비스의 데이터 컴플라이언스 방안에 관한 연구 - 개인정보 라이프사이클을 중심으로)

  • Jung, Jaeeun;Yang, Jinhong
    • The Journal of Korea Institute of Information, Electronics, and Communication Technology
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    • v.15 no.2
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    • pp.134-143
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    • 2022
  • 'Data' is the key component that leads Digital Healthcare. Most of the Healthcare Data is personal information of data subject and includes Sensitive Information. It is very important for companies to use data lawfully and safely during the lifecycle of data collection, use, provision, and destruction. However, small and medium-sized enterprises(SMEs), ventures, and startups, which account for 78% of the Healthcare Services Industry, have had difficulties in performing tasks related to personal information protection. The personal Information Protection Act's requirements depending on the purpose of using Personal Information are different. Also, the requirements for each personal information lifecycle are varied. Therefore, this study suggests six purposes for companies to use healthcare data. It examines the considerations during the lifecycle in which personal information is collected to be destroyed.

Anti-Inflammatory Effect of Chung-Dae in LPS-Treated RAW 264.7 Cells (LPS로 유도된 RAW 264.7 대식세포에서 청대의 항염증효과)

  • Jang, Sou Jou;Kang, Soon Ah
    • The Korean Journal of Food And Nutrition
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    • v.35 no.2
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    • pp.116-126
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    • 2022
  • The purpose of this study was to analyze the anti-inflammatory effect of Chung-Dae Indigo Pulverata Levis, indigo naturalis) produced during indigo dyeing. As a result of in vitro cytotoxicity experiments using RAW 264.7 cell, Chung-Dae extract did not inhibit cell proliferation in Raw 264.7 cells in the range of 1~32 ㎍/mL. NO production was significantly reduced when Chung-Dae extracts were treated at concentrations of 2, 8, and 32 ㎍/mL (p<0.05). The pro-inflammatory cytokines TNF-α, IL-6, IL-1β and IFN-γ significantly decreased when the Chung-Dae extract was treated at concentrations of 2, 8, and 32 ㎍/mL compared to the LPS group, and similarly, the TNFα and IL-6 mRNA levels also decreased. Additionally, the mRNA level of COX-2 was also suppressed. At the protein expression level, the expression of TNF-α, IL-6, iNOS and COX-2 were observed with LPS and Chung-Dae extract significantly decreased compared to the group treated with only LPS (p<0.05). From the above results, it shows that Chung-Dae extract, a plant-derived compound, inhibits the inflammatory response induced by LPS in RAW 264.7 cells. and in particular, regulates the inflammatory response by inhibiting the expression of pro-inflammatory cytokines and inflammation-related enzymes.

A Study on the Establishment of Cooperative Network to Promote for Regional New Deal Project of SMEs (중소기업의 지역뉴딜 활성화를 위한 협력 네트워크 구축방안)

  • Kim, Eun-Ok;Hwang, Hwi-Ung;Cho, Han-jin;Choi, Ho-sung
    • The Journal of the Korea Contents Association
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    • v.21 no.12
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    • pp.76-83
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    • 2021
  • According to the rise of the 4th Industrial Revolution, the need for innovation networks through cooperation between participants is increasing to respond to rapidly changing technologies and corporate environments. Especially, cooperation is essential to solve and innovate problems faced SMEs lacking human and material resources. We conducted a study to revitalize the regional cooperation network by analyzing the current status and problems of the existing SME support network. As a result, We derived a strategy to create a foundation for a regional cooperation network through reorganization of existing cooperation networks, the establishment of customized policies for SMEs, and linkage of support projects. And we derived a strategy for establishing a specialized network for regional innovation as a result of research through Establishing a network for regional bases, strategies for fostering companies by growth stage, and utilizing local data. We expect that it will help establish a policy to support SMEs by preparing an organic cooperation system between local businesses and local networks.