• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.39-50
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• 2018

A main purpose of this research is to identify success factors of start-up based on the AER case study. As a result of case analysis, In the early stage, the success factors of start-up are the entrepreneur's history, experience, expertise, prompt judgment, problem-solving ability, the capacity and teamwork of its members, business networks and supporting government start-ups. In the commercialization stage, securing commercialization and investment funds, timing, differentiation strategy, overseas advancement, and acceptance of customer feedback are important. In the growth stage (maturity stage), new product launches and diversification, and establishment of organizational culture are important. Based on the results of this analysis, this study sought success factors and implications for each stage and sought research directions in the future.