• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.13 no.6
• /
• pp.39-48
• /
• 2018

Despite the fact that Daejeon has excellent technology infrastructures such as government-funded research institutes, Daedeok Innopolis, and KAIST, the infrastructure for initial investment and growth support for technological start-ups is not sufficient. In particular, the amount of venture capital supply in Daejeon is relatively low compared to other innovation infrastructures. The purpose of this study is to suggest the implications of the venture capital ecosystem in Daejeon area through the analysis of what evolution process has been undergoing and what improvements and complementary points are needed in the future. First, the role of public finance system should be strengthened in order to stimulate angel investment and private capital inflows to start-up companies. Second, in order to cultivate investment professionals in the region, it is necessary to grant local funds to local institutions, and to run investment expert training courses in universities. Third, cooperation between related agencies is needed to add accelerator functions to existing incubators and to foster new accelerators. Fourth, in order to expand the role of local governments, it is necessary to establish funds, to open innovation mindset of public officials, and to communicate effectively with the central government. Fifth, basic venture ecosystem infrastructures such as inflow of excellent manpower, prevention of technology deception, improvement of rechallenge environment should be expanded. Sixth, it is necessary to reorganize the step-by-step start-up financing policy of 'Establishment - Growth - Exit - Rechallenge'. This study is meaningful in that it has grasped the current status of venture start-up financial ecosystem in Daejeon, which is changing rapidly. In particular, it is different in that it identifies financial difficulties venture companies in Daejeon and finds ways to utilize existing financial ecosystem efficiently.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.2
• /
• pp.165-180
• /
• 2019

Recently, the Korean government announced that it would focus on fostering intrapreneurship and corporate spin-off. The government encourages intrapreneurship because it ultimately seeks to develop industries and markets, grow innovative companies, and job creation. In particular, the government believes that enhancing intrapreneurship will reduce the personal fear of failures, expand open innovation by utilizing resources within existing companies related to innovation creation, and lead to new start-ups. Accordingly, this research reviewed the previous studies on corporate entrepreneurship activities and entrepreneurial self-efficacy and briefly looked at the status of global intrapreneurship activities. Based on the Global Entrepreneurship Monitor Adult Population Survey data in 2015, this study conducted a logistic regression analysis with the data of 27 OECD member countries' and Korean respondents. The finding confirms that the personal experience of intrapreneurship could be positively associated with entrepreneurial self-efficacy of the person. Therefore, it seems to be worth for the Korean government considering policies that support intrapreneurship as part of the start-up policy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.4
• /
• pp.1-16
• /
• 2022

This paper studies the impact of regulatory approaches on innovation and entrepreneurship. As technological progress and environmental changes avail new business opportunities to innovative startups, many governments find it difficult to regulate new and unprecedented businesses promoted by the innovative firms. In order to provide academic and practitional implications on the regulatory design with which to support innovation and entrepreneurship, this paper aims to review classical theories on the demand and supply of regulation as well as empirical research on the impact of regulation on market entry and incentives for innovation. Based on the findings, this paper discusses the recent controversies around the regulatory approaches on new businesses pursued by startups, which are as known as the "positive regulatory approach" vs. "negative regulatory approaches" among practitioners and policy makers in Korea. This paper claims that the Korean context provides an useful opportunity to investigate how the ongoing transition of the once "fast follower" economy into a pacesetter one changes the nature of businesses pursued by firms, investors, and related market players and, accordingly, calls for the changes in the way the government intervenes in markets to regulate businesses of firms. By doing so, this paper sheds light on the role of the government in establishing an entrepreneurial ecosystem where innovative ideas of startups can be tested and nurtured.

• Korean Business Review
• /
• v.13
• /
• pp.223-246
• /
• 2000

The major entity supplying the supporting infrastructure of the venture creation is the venture capitalists, university(and research center), and government. Especially, the role of the university and academic entrepreneurs is the key factor in the process of the technology transfer. The capacity(or role) of the academic entrepreneurs to craft a vision, and then to lead, inspire, and persuade key members makes an enormous difference between success and failure. And the supporting model of academic entrepreneurial venture creation requires that the systematic supporting system as well as the institutional framework for handling the conflicts among the members of a committed venture team. Among the a variety of organization, the university needs to supply the, formal supporting program such as technology transfer, university-industry cooperation, venture development, and the perception of the mere presence of policies and programs designed to encourage entrepreneurial activities for fostering economic development. Besides, careful consideration must be given to the role universities should play in the regional economy and what policies are appropriate to allow it to play that role effectively. On the basis of the above literature review results, this article suggests the supporting model for the venture creation by the strategic alliance composed of the industry, university, and government considering both of the entities's role and the motives of academic entrepreneurs in venture creating process.

• Proceedings of the KAIS Fall Conference
• /
• 2010.05b
• /
• pp.712-715
• /
• 2010

정부는 새로운 일자리 창출과 지속적인 경제 개발을 위한 수단으로서 창업을 지원하는 다양한 정책을 실시하고 있다. 창업이 새로운 일자리 창출과 지속적인 경제 개발에 이바지하기 위해서는 창업 성공률이 제고되어야 한다. 창업의 성공은 창업가의 역량, 업종별 고객 수요 및 경쟁 강도, 특정 업종에 대한 창업가와 적합도 등 복합적인 요인에 의해 결정될 것이다. 지금까지의 창업연구는 창업가의 특성과 태도 등 내적 요인에 치우쳐 있으며, 업종별 고객수요, 경쟁강도 등 외적 요인 및 특정 업종에 대한 창업가의 적합도 등 상호작용 요인에 관한 연구는 부족한 실정이다. 내적 요인, 외적 요인, 상호작용 요인을 체계화하려는 시도 또한 부족하다. 본 연구는 창업 성공에 영향을 미치는 복합적인 요인에 관한 지식을 체계적으로 수집하여 저장하고, 이를 활용할 수 있는 지식 베이스로서 창업 온톨로지의 필요성을 제안하고, 창업 온톨로지의 구축 활용 방안을 제시한다. 본 연구는 창업 온톨로지의 필요성을 최초로 제안하고, 창업 온톨로지를 구축 활용하는 방안을 종합적으로 제시한다는 점에서 의의가 있다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.19 no.2
• /
• pp.63-79
• /
• 2024

The startup ecosystem is experiencing a paradigm shift in founding due to the acceleration of digital transformation, online platform companies have grown significantly into unicorns, but the lack of differentiated approaches and strategic support for deep tech startups has led to the inactivity of the startup ecosystem. is lacking. Therefore, in this study, we proposed ways to develop domestic startup development policies, focusing on the US system, which is an advanced example overseas. Focusing on the definition and characteristics of deep tech startups, current investment status, success stories, support policies, etc., we comprehensively analyzed domestic and international literature and derived suggestions. In particular, he proposed specific ways to improve support policies for domestic deep tech startups and presented milestones for their development. Currently, the United States is significantly strengthening the role of the government in supporting deep tech startups. The US government provides direct financial support to deep tech startups, including detergent support and infrastructure support. It has also established policies to foster deep tech startups, established related institutions, and systematized support. It is worth noting that US universities play a core role in nurturing deep tech startups. Leading universities in the United States operate deep tech startup discovery and development programs, providing research and development infrastructure and technology. It also works with companies to provide co-investment and commercialization support for deep tech startups. As a result, the growth of domestic deep tech startups requires the cooperation of diverse entities such as the government, universities, companies, and private investors. The government should strengthen policy support, and universities and businesses should work together to support R&D and commercialization capabilities. Furthermore, private investors must stimulate investment in deep tech startups. Through such efforts, deep tech startups are expected to grow and Korea's innovation ecosystem will be revitalized.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.6
• /
• pp.141-158
• /
• 2022

This study identifies related factors by analyzing the effects of the psychological characteristics and competency factors of traditional market merchants on business performance, and at the same time verifies the moderating effect of government support policies. The research focus was on verifying the causal relationship. This study was conducted targeting the representative traditional market merchants in the metropolitan area who have experience in traditional market specialization projects or are currently in the process of specialization projects. An empirical study was performed based on the collected data. The analysis results are as follows. First, it was found that self-esteem as a psychological characteristic factor of merchants, customer management competency as merchant competency, and informatization capability had a significant positive (+) effect on financial performance among business performance. Second, as a result of examining the moderating effect of government support policies, it was found that product capability had a significant positive (+) effect on financial performance among business performance. It was found that self-esteem and product competency had a significant positive (+) effect on the will to continue business among business performance. The practical results of this study are the research papers to measure the business performance of traditional market merchants using the government support policy as a moderating variable, using the psychological characteristics and competency factors of traditional market merchants as independent variables. For this purpose, it will be positively evaluated that the psychological characteristics of merchants and merchant competency factors affect business performance, and that meaningful research results are derived by analyzing the moderating effect of government support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.2
• /
• pp.141-150
• /
• 2012

This paper aims at proposing the establishment of concept for qualified startup business and the model of smart incubating business system for qualified startup business creation, which is being government's recent policy paradigm. The result of this paper shows the theoretical setting for the concept of qualified startup business through researching papers precedent and analyzing the startup business education affairs of American universities and proposing the model of requisition for qualified startup business. The core model of requisition for qualified startup business is to secure the essential factors for qualified startup business and the preparation process through compounding the requisites, the execution ecosystem for leading the mixing requisites and supporting. This model has been practiced enormously at business creation education field in American universities. This paper especially propose TEC program of NC State University in U.S.A. by case study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.5
• /
• pp.77-98
• /
• 2020

Recently, the government provided about 35 trillion won to start-ups through a large amount of start-up support funds from the Korea Credit Guarantee Fund and the Korea Development Bank, and more than 100 trillion won to start-ups over the past three years.(2015-2018) The Ministry of SMEs and Startups announced that a total of 1.4517 trillion won will be supported by 16 ministries (90 projects) after surveying start-up support projects by ministries in 2020 to create a start-up country. Indeed, among the budgets supported by the Ministry of SMEs and Startups, startups accounted for 85%, while scale-ups (growth and maturity) were only 15%. However, the survival rate of Korean start-ups was far lower than that of developed countries. The survival rate for the three years after the start-up was 39.1 percent, with only about 4 out of 10 surviving, with 27.5 percent surviving for five years, and only 3 out of 10 surviving. On the other hand, overseas start-ups have a survival rate of twice as high as that of Korea for five years. Accordingly, this study aims to empirically analyze and examine the need for research on nascent entrepreneurs, which have recently been actively supported by the government, as well as the impact of start-up motivation and start-up preparation on the intention to continue business. The survey was conducted from April 1 to May 15, 2020 for nascent entrepreneurs nationwide, and 222 of the total 245 copies were analyzed, and the questionnaire was measured using the Likert 5-point scale. As a result of the analysis, first, all factors constituting start-up motivation were adopted by significantly affecting start-up satisfaction. In addition, among the sub-factors of nascent entrepreneurs' preparation, item preparation was adopted as a significant influence on start-up satisfaction. Second, the nascent entrepreneurs' satisfaction level was adopted by having a significant impact on the business continuity. Third, some of the motivations for self-realization of the motivation for start-ups were adopted by having a significant impact on the business continuity. In addition, the preparation of items for the start-up preparation of nascent entrepreneurs was partially adopted as they had a significant impact on the business continuity. Fourth, it was adopted by the mediation effect of start-up satisfaction between the motivation of the nascent entrepreneurs' preparation and the business continuity. In addition, it was adopted by the medium effect of start-up satisfaction between the nascent entrepreneurs' preparation and the business continuity. Based on the results of these studies, it is intended to draw practical implications, and to provide useful policy implications to increase nascent entrepreneurs' satisfaction and continue to carry out their start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.13 no.5
• /
• pp.41-54
• /
• 2018

In recent years, as interest in youth startup has increased, the Korean government has established various policies to support young entrepreneurs and actively implements such policies. Especially, as a way to promote youth startup, the development of startup clubs in universities is being suggested, and the importance of startup clubs is growing day by day. As reflected in these points, the Korean government is increasing its budget every year to support the startup clubs of universities, and actively supports the funds and space required for the startup clubs of universities. Unfortunately, however, despite the growing importance of startup clubs and the active support of the government for the startup clubs, academic attempts to see how effectively the startup clubs are operating are not enough. For this reason, this study analyzes the effect of entrepreneurship of university start-up club members on the effectiveness of start-up club. More specifically, in this study, entrepreneurship of club members is classified as risk-taking propensity, proactiveness, and innovativeness, as emphasized in previous researches. We empirically analyzed the effects of these independent variables on the effectiveness of the start-up clubs, focusing on the moderating effect of club members' diversity. We conducted empirical analyses on 1112 start-up club members from 12 universities located in Jeollanam-do and Jeollabuk-do, and the analysis results are as follows. First, the entrepreneurship of the start-up club members, namely risk taking propensity, proactiveness and innovativeness, all have a positive effect on the effectiveness of the start-up club. These results are consistent with the emphasis of many previous studies. The higher the tendency to take risks, the more inclined to move forward through difficulties, and the higher the tendency to break out of the existing framework and pursue new things, suggesting that the effectiveness of the club is enhanced. Second, as a result of verifying the moderating effect of the club members' diversity, it was found that club members' diversity moderates the relationship between the proactiveness of club members and club effectiveness in the negative (-) direction. In other words, the positive effect of the entrepreneurship of club members on the effectiveness of the start-up club means that the proactiveness is weakened in the case of a club having members from different major backgrounds. The results of this study are expected to provide meaningful theoretical and practical implications by identifying the influencing factors of the start-up club's effectiveness, which has not received much attention so far.