• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.9 no.4
• /
• pp.1-12
• /
• 2014

It is essential factor for business operation to raise funds effectively. However, in Korea, many start-ups and small businesses have difficulties in fund-raising. In recent years, crowdfunding, a new method for funding a project of individuals or organizations by raising monetary contributions from a large number of people, has been growing up simultaneously with diffusion of social media. Crowdfunding is on early stage in Korea, and the majority of projects are focused on cultural or art categories. There is high proportion of projects that have social value in start-up sector. Crowdfunding in Korea has great potential because success rate of it is much higher than its of advanced countries, although market size is much smaller than them. The purpose of this paper is to propose success strategies of crowdfunding for start-up through case study. 5 crowdfunding platforms of Korea and Kickstarter, the platform of United States were investigated. Then we checked the figures related to the operation of the whole Korean projects on start-up. Finally, we made comparison between the cases of success and failure by analyzing 8 project characteristics. The study shows that it were the differences in trustworthiness and activeness of project creator, value of reward and efforts for interactivity that have great effects on success of the project. Whereas there was no significant influence of societal contribution and sponsor engagement. The thesis provides success strategies of crowdfunding for start-up as follows. Firstly, creator of the project should make support base by enthusiastic activites before launching funding project. Secondly, there should be contents that can easily show the process of business development in the project information. Thirdly, there must be appropriate design of rewards for each amounts of support money. Finally, efforts for interactivity, such as frequent updates, response for comments and SNS posting, should be followed after the launch of the project.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.4
• /
• pp.83-96
• /
• 2020

Traditionally social problems had been largely left to be handled by non-profit organizations, not because of lack of interests in social causes but mostly because of lack of innovative ideas to solve them in commercially viable ways. This market failure has recently been fixed by social enterprises, which manage to provide both solutions for social issues and commercially viable business models. As a result, we have been witnessing a sudden spike of public interests in these social enterprises as well as a call for empirical investigation on social enterprises by prior studies. However, empirically investigating a social enterprise has been a challenging endeavor mostly due to the insufficient number of successful social enterprises. Answering to the call in this study, we empirically investigate Goyohan Taxi, a successful social enterprise that partners with visually impaired cabdrivers and offers a taxi service, by both longitudinally interviewing the founder and adopting in vivo observation throughout the entrepreneurial journey of Goyohan Taxi. Based on the single case study method, we find that Goyohan Taxi adopts two distinctive decision-making mechanisms, the de-escalation of commitment and the orthogonality of commercial and social goals. Although generalizability of the our finding is minimal due to the limitation of single case study method, our finding contributes to the research of social entrepreneurship by offering new avenue of research in decision-making process of social entrepreneurs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.11 no.6
• /
• pp.153-161
• /
• 2016

Small business start-up competition in the market has become overheated. It is effected by early retirement and unemployment, specially youth employment. It is a research on small business owners' satisfaction of SEMAS(Small Enterprise and Market Service) based on the funding policy, education and consulting program. It has surveyed 272 small business owners living Gyeongsangnam-province from January 2013 to September 2015. In addition, it analyzes some factors such as motivation, business model, item, owner's experience, sales and demographic by small business owner. Analysis results, the satisfaction of small business that uses support system is shown to be significantly related with education degree, entrepreneur motivation, and business kind is partly related. It will conduct a decision-making governor to help small business owners entered the start-up market and.

• Journal of Digital Convergence
• /
• v.14 no.12
• /
• pp.121-131
• /
• 2016

This research aims to analyze domestic articles related to entrepreneurship and elicit implications for future research. To this end, bibliometric analysis was conducted for the authors and titles of 1,887 articles published in the Korean Citation Index between 1997 and 2016. First, in the author analysis, Dae Yong Chung, Bong Sik Bin & Jeong Ki Park, and Sung Sik Bahn were noticeable in terms of the number of articles, the number of citation and the formation of the researchers' network. Second, in the title analysis, the characteristics of entrepreneurs and education in entrepreneurship, entrepreneurial strategies and case studies, the empirical analyses regarding entrepreneurial performance, investment in startups, and Korean IT companies were found to be the most active research fields. The results of this study can be used in selecting co-researchers and exploring research areas in the future.

• Journal of Digital Convergence
• /
• v.19 no.4
• /
• pp.89-101
• /
• 2021

Scale-up of ICT startups is not easy because of limited capabilities, lack of resources, and immature networks for the business. Therefore, this research selected a representative startup succeeded in scale-up and applied the ERIS model in analyzing their scale-up process in the initial stages of scale-up. Analysis of qualitative data collected revealed that the entrepreneurs' experience, convergence of knowledge between diverse industries, participation in public-sector-led R&D, management of communication channels between customers and businesses, and utilization of project-oriented campaigns are found to be critical success factors in scaling up ICT startups. Academically, this study validates the utility of ERIS model in analyzing the scale-up process. For practitioners, this study will be used as a reference for strategic development in seucring the competitiveness of the initial market of ICT startups and scale-up.

• 한국벤처창업학회:학술대회논문집
• /
• 2008.04a
• /
• pp.143-178
• /
• 2008

This study is to look into the spin-off ventures which was incorporated based on the technology developed by public research institute, but underwent difficulties confronted during the development stages focused on the growth process and the factors contributed to their success. The case study was conducted with i-Sense Co., Ltd. which is a ventures organized by professors as a form of research based spin-off venture. i-Sense Co., Ltd. is a new-technology based ventures to produce self-tester for blood sugar level which was incorporated by Prof. Cha, Keun-sik and Prof. Nam, Hak-hyun of Department of Chemistry in Kwangwoon University along with the graduate course students of the Research Laboratory of the University. The two professors operated the Chemical Sensor Research Center at the Kwangwoon University where they produced many preliminary research outputs related with bio-sensors. They also executed the service works at the specialized company they established for research development to make research fund. They established i-Sense Co., Ltd. with the aim to carry out the research they want to. But contrary to the initial intention of the founders of the company, i-Sense Co., Ltd. has grown up as manufacturing company which produces and sells the self-tester for blood sugar level and is expected to be listed by Initial Public Offering (IPO) on the KOSDAQ in 2008. This study is to analyze the foundation and the growth process of i-Sense Co., Ltd. as successful research based spin-off ventures, to find out the factors contributed to their success by enabling them to overcome the difficulties experienced during the growth process, and eventually to provide with suggestive meanings in policy and practical point of view that leaded the research based spin-off ventures to success.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.12 no.2
• /
• pp.65-76
• /
• 2017

The purpose of this study is to promote the activation of creative problem - solving education in Korea through the case of countries leading education for creative problem solving in order to overcome the limitation of creative problem solving education in Korea. Based on 5 success factors by our cases of United States, Singapore, and Dublin City University in Ireland, we focused on the cases and extracted five key characteristics of creative problem solving education. The university should be able to provide various information gathering and theoretical knowledge for problem definition as well as continuing guidance and mentoring, rather than one-time teaching, in the form of teaching-student cooperative learning paradigm. Second, the class should be a team - based learning team which is a key factor in overseas universities' policy, so as to be able to identify differentiated, new ideas and creative problem solving methods based on knowledge and experience sharing. The creative problem solving method derived from education could be able to collect, organize, and apply to the field continuously and comprehensively about the learning process of the individual. Evaluation of curriculum should be based on characteristics of school and characteristics of students. The results of creative problem-solving education should be evaluated in order to continuously develop and create value in addition to the outcomes of the class. Therefore, it is necessary to develop an evaluation process for each university. The university should try to make creative problem solving education create value through specialization of university. Based on this, we propose a creative problem solving education framework.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.1
• /
• pp.145-151
• /
• 2012

In this paper, we study the relationships between organization characteristics and desired software quality attributes of enterprise systems. We collected data from three client organizations in three different domains (auto manufacturer, insurance services firm, and government agency) that adopted enterprise software of the same software vendor. Our analysis discovers that capability is a more important attribute to the manufacturing and insurance firms than the government agency. Usability is ranked the highest among other attributes for the government agency and reliability for the manufacturing firm. The relationships identified in this study will help enterprise systems vendors predict their customer needs and, ultimately, increase effectiveness and efficiency in their software development processes. Such findings will be specially useful when software vendors develop enterprise software for a venture firm by enabling them to meet the customer needs customized by the organization haracteristics while staying within the incubating firm's limited budget.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.1
• /
• pp.107-124
• /
• 2023

As getting in 4th Industrial Revolution Times, Continuing Education Enrolled Students(CEES) trying to find loophole for jepordized current life and need job transfer have surged their interest significantly on starting new business to bring up their post career after retirement through self-improvement. Government and university have actively initiated diverse policies of promoting startup for CEES in kicking off entrepreneurship courses and programs. However, relevant main policy, 'The 2nd University Startup Education Five-Year Plan (draft)' have too chiefly focused on theoretical start-up education rather than practical courses, causing the problem of inappropriate support for implementing real startup and business (Ministry of Education, 2018). This study is brought to empirically investigate the effect of self-efficacy as perspective of the impact of entrepreneurship education on entrepreneurial intention and behavior to come up with problem of poor entrepreneurial environment and entrepreneurship education to CEES. As to empirical research, this paper deliver on-line survey to CEES from September to October 2022, collect 207 effective feedbacks, In order to verify the reliability of the scale, the Cronbach's Alpha Coefficient (Cronbach's α) was calculated, analyzed, and measured. For hypothesis test, this paper utilize the multiple regression analysis statistical analysis method and use the SPSS 22.0 statistical processing program. Empirical results show, first, it was found that self-efficacy had a significant effect on start-up education. Second, start-up education had a significant effect on the intention to start a business of adult learners. Third, start-up education had a significant effect on the start-up behavior of adult learners. Fourth, self-efficacy had a significant effect on the intention of adult learners to start a business. Fifth, self-efficacy had a significant effect on the start-up behavior of adult learners. Sixth, self-efficacy had a mediating effect in the relationship between entrepreneurship education and adult learners' intention to start a business. Seventh, self-efficacy had a complete mediating effect in the relationship between start-up education and adult learners' start-up behavior. This paper is brought three significant implications. First, main consideration developing entrepreneurship education tools for CEES need to falls on defining potential needs of CEES as segmenting as to coming up with diversity of CEES's characteristics such as gender, age, experience, education, and occupation. Second, as to design specific entrepreneurship education program, both practical training program of utilizing CEES's career field experience benchmarking best practice startup and venture cases from domestic and global, and professional startup program of CEES initiating directly startup from ideation to develop business plan with pitching and discussing. Third, entrepreneurship education for CEES should be designed to incubate self-efficacy to enhance entrepreneurial intention of implementing entrepreneurial behavior as a real, eventually leading solid support system of self-improvement for CEES' Retirement life planning.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.16 no.1
• /
• pp.55-69
• /
• 2021

For the national economic development, the participation of women in the social and economic activities is crucial. The popularization of start-ups, digital transformation, and WEconomy trends have lowered the barriers to opportunities for women to start a business and provide an environment in which women can grow faster. This paper examines the significance and process of success of women entrepreneurs and the characteristics of innovation strategies and achievements by linking the recently changing business environment of a company, factors influencing the success of women entrepreneurship, and innovation activities. To this end, four companies' cases were analyzed in the fields of distribution/service and consumer products/services, which are areas of large investment among female startups. The result shows that women entrepreneurs recognize the meaning of success as creating and continuing to create a 'corporate value through establishing a trust relationship with customers' within the 'balance between personal life and work.' In terms of the business ecosystem, women entrepreneurs strive for 'business activities based on the win-win growth of consumers, producers and sellers' for success, and rather 'focus on the process with a problem-solving approach' rather than achieving performance-oriented goals. Also through excellent power of observation, flexibility, and execution power, women entrepreneurs conduct business by adapting to changing trends. In terms of innovation activities, the innovation strategy of women-led companies puts priority on 'creating the value customers want' and focuses on innovation in the 'customer-centric business model' rather than technological innovation. As such, women-led companies show several differentiated characteristics, which enable them to create corporate value and achieve sustainable growth. The barriers to challenges and opportunities for women to start a business have been lowered, and an ecosystem has been created for female startups to grow. But why are there still so few women entrepreneurs, and the answer to where we need to close these gaps is ultimately a close analysis and investigation of the field. We must present milestones for growth steps through the accumulation of case studies of women startups that have exited. In addition, women can stand as economic agents only when the policy targets are subdivided and specific approaches to child-rearing and childcare for women entrepreneurs must be taken. This paper expects to serve as basic data for follow-up studies and become the basis of research for women entrepreneurs to grow as economic agents.