• Title/Summary/Keyword: Start-up growth stage

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A Study on the Effectiveness of Government Start-up Support Project Satisfaction and Business Capabilities by Start-up Growth Stage (창업성장단계별 정부의 창업지원사업 만족도와 창업가의 사업화역량의 효과에 관한 연구)

  • Yoon, Bok-man;Jang, Young-hye
    • Journal of Venture Innovation
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    • v.7 no.3
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    • pp.65-84
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    • 2024
  • This study confirms the relative influence of satisfaction with the government's start-up support project at each growth stage of start-up companies and entrepreneurs' commercialization capabilities on start-up commitment. The start-up growth stage was divided into start-up stage, initial growth stage, stagnation stage, and high growth stage, and the government's start-up support project was divided into eight types(entrepreneurship education, mentoring/consulting, facility space, commercialization support, policy funds, sales channels/marketing/overseas expansion, R&D support, and start-up events/network) and satisfaction was evaluated. The data used was the results of the Daegu Creative Economy Innovation Center's survey on entrepreneurship conditions. As a result of the analysis, it was confirmed that the entrepreneur's commercialization capabilities are more effective in increasing the entrepreneur's commitment to starting a business than the satisfaction with the government's start-up support project. Additionally, it was confirmed that relatively important factors in entrepreneurship immersion differ depending on the start-up stage. During the start-up period, the government's start-up support project was found to be an important factor in increasing entrepreneurs' commitment to starting a business, but it was confirmed that the government's start-up support project had no effect on the start-up commitment after the start-up growth stage. In addition, this study confirmed the relatively important government start-up support projects by start-up growth stage and found that satisfaction with start-up facilities can increase start-up commitment during the start-up stage, and that start-up facilities and commercialization support are important during the early growth stage. And in the Death Valley stage, startup facilities, commercialization support, and policy funds were confirmed to be relatively important factors, and in the high growth stage, mentoring was confirmed to be an important factor in increasing entrepreneurship immersion. The results of this study not only contribute theoretically to building entrepreneurship theory, but also determine the size and effective support plan for the government's entrepreneurship support project for each growth stage of startup companies, and help organizations that operate entrepreneurship policy and institutional support and startup support programs. It will have a significant contribution to management measures.

Effectiveness Analysis of Startup Support Policy of Early Start-ups: Moderating Effect of the Industry and Growth Stage of the Start-ups (초기 창업기업 창업지원정책의 효과성 분석: 창업업종 및 창업성장단계 조절효과)

  • Jung, kyung-hee
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.1
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    • pp.59-70
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    • 2020
  • This study was proceeded to empirically identify the start-up support policy as an element that affects the performance of the early start-ups and measure the effectiveness of the current start-up support policy, in order to suggest the direction future policies according to the study. To accomplish this the influence of the start-up support policy on the early start-ups was analyzed, and the differences according to the industry and growth stage of the start-ups, as the characteristics of the start-ups, were identified. The research subjects collected real data of 297 start-ups of the past three years that were selected for the Initial Start-Up Package project, and performed multiple regression analysis on the influence between variables, and hierarchical regression analysis on moderating effects. The summary of the study is as follows. First, as a result of identifying the influential relationship between the start-up support policy and the performance of the start-up, sales had made a significant impact on the start-up fund, start-up mentoring, and start-up infrastructure(space), while start-up education failed to show a significant effect on the increase in sales. In terms of employment, start-up mentoring was the only field that showed a significant influential relationship. Second, as a result of identifying the moderating effect of the start-up's industry and growth stage, the industry did not have a statistically significant influence, but the interactive effect was seen in start-up education. To be more specific in terms of the sales relationship of each industry, knowledge services turned out to be helpful in improving sales, while manufacturing turned out to be effective in improving sales regardless of being supported with start-up mentoring and start-up infrastructure (space). The sales relationship regarding the start-up growth stage was identified to be statistically significant. The preliminary stage was not statistically significant, while providing start-up mentoring and start-up funding were effective for start-up stage and growing stage, respectively. On the other hand, employment did not perform a significant influence on the start-up growth stage. This study analyzes the effectiveness the start-up support policy for early start-ups, identifies the need in differentiated support policies according to the characteristics of the start-ups, and suggests implications for the direction in which future policies should be made towards.

The Study of IT Service Functions for Start-up Information System Supporting Start-up Competency (창업 역량 강화를 지원하는 창업 정보시스템에 필요한 IT서비스 기능 연구)

  • Park, Min Woo;Moon, Hyun Sil;Kim, Jae Kyeong
    • Journal of Information Technology Services
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    • v.16 no.4
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    • pp.121-136
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    • 2017
  • Recently, many people are interesting for Start-up and government also try to support their business because it can contribute economic growth. However, in Korea, despite there are many education and supporting programs for them, many Start-ups are failed to retain their business because they actually do not know what they do. Although prior studies for Start-up have pointed that education for them is very important for success, education programs for them only focus on theories rather than practices. Moreover, Start-ups need tools for supporting to business plans or information for their business. Therefore, in this study, we propose IT service functions for Start-up information system supporting Start-up competency. For this purpose, we conduct Delphi and Importance-Performance Analysis with experts on start-up. In experiments, we divided stage of business into three stages; business planning, implementation, growth and diversification. And we draw important tasks from experts in each stage. As a result, we find some tasks to concentrate for Start-up information systems. And we also find tasks which are not important for company founders. Through these results, we expect that the development of functions for supporting those important tasks will help increase the efficiency of Start-up companies and the survival rate of them.

What Ecosystem Factors Impact the Growth of High-Tech Start-ups in India?

  • Joshi, Kshitija;Satyanarayana, Krishna
    • Asian Journal of Innovation and Policy
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    • v.3 no.2
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    • pp.216-244
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    • 2014
  • This paper empirically establishes the role played by the ecosystem related parameters in the emergence and growth of high technology start-up clusters in India. It is mainly based on secondary data from six major start-up hubs in India during the period 2005-2013. Our results throw up several interesting findings. First of all, we find that traditional infrastructure related factors or robust macroeconomic situation in general are not the most important drivers. What really seem to matter are the specific start-up ecosystem related factors - such as the Internet penetration, volume of deal flow, availability of VC funding and a pre-existing critical mass of relevant high technology businesses and skill-sets. Above all, our study points out that high economic growth alone will not automatically lead to spillovers in the form of a vibrant start-up ecosystem. Rather it has to be a product of conscious and concerted policy efforts at all levels that directly address the main challenges faced by the early-stage start-ups.

Improvement of Supporting Services of Business Incubators by the Entrepreneurship Growth Stages Based on the IPA (IPA를 활용한 보육지원서비스에 대한 창업성장 단계별 개선방안)

  • Hyun-A Lee;Mi Yu;Tae-kyu Kwon
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.46 no.spc
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    • pp.54-60
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    • 2023
  • The government focuses on promoting start-ups, fostering ventures, and creating an ecosystem of start-ups through the formation of a strong growth environment for small businesses. This study provides academic and practical implications about ways of improving our business incubator's support service across stages of growth through IPA. To this end, an Importance-Performance Analysis (IPA) was conducted to analyze relationship and differences in importance and satisfaction of business incubator's support service support at business incubation center. These results present to provide the following academic and practical implications. The academic implications are the need for differences in support services for each phase of start-up growth. As factors that could increase the likelihood of successful start-up were identified in each phase of the start-up growth, important information needed for policy and strategy was provided. As a practical suggestion, the managers and expert groups are presented with sections to be opened for each start-up growth stage, minimum effort input, and areas to be maintained continuously. A systematic support plan is established and a foundation is provided for improvement measures in efficient start-up business incubator's support service.

A Study on the Application of Success Factors According to the Growth Stage of Convenience Store Startup (편의점 창업 성장단계에 따른 성공요인 적용 방안에 관한 연구)

  • Kwon, Yong Seog
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.5
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    • pp.261-276
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    • 2020
  • This study seeks to find an effective support plan through the success factors recognized in the early stages of startup and those recognized after success by grasping the success factors of successful small business entrepreneurs at each stage from the pre-start stage to the growth stage. To this end, a qualitative study through interviews was conducted with successful convenience store franchisees to derive success factors from the start-up preparation stage to the early stage and growth stage. The success factors of starting a small business were studied in consideration of the characteristics of franchise convenience store startups using the ERI model and the ERIS model applied in the study on the performance of startups. The success factors were studied using the multisite service firm life cycle of Sasser et al.(1978) reflecting the results. As a result of the study, the key factors of successful franchisees were the selection of the location of the first store, the selection of strategic additional stores, and the successful renewal of the contract. Depending on the characteristics of the founder, the enterprising franchisees took an active attitude in selecting strategic locations for additional stores and defending the commercial district, while the relatively conservative franchisees showed an active attitude toward store operation and renewal from a management perspective. In particular, the entrepreneur's mind is important in the preparation stage, and the importance of the entrepreneur's management strategy was discovered in the entire business cycle. Based on the results of this study, this study specifically sought out a start-up plan to effectively apply it to the future growth stage.

Analysis of Start-up Success Factors by AER Case (AER(Asan Entrepreneur Review)사례를 통한 스타트업 기업의 성공요인 분석)

  • Lee, Sangjo;Nam, Jungmin
    • 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.

Innopolis start-up's achievements and challenges over the past 16 years: the comparison before and after the quantitative expansion period (연구소기업 16년의 성과와 과제: 양적 팽창기 전후의 비교를 중심으로)

  • Seongsang Lee
    • Journal of Technology Innovation
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    • v.31 no.2
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    • pp.111-133
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    • 2023
  • Innopolis start-up has become a representative model and path for commercialization of public technology. Along with the quantitative growth of innopolis start-up, the importance of innopolis start-up in national policies and institutional strategies related to public technology commercialization has also increased. However, over the past 16 years, innopolis start-up's establishment and growth have taken place in different ways at different times. This study aims to compare and analyze changes in innopolis start-up over the past 16 years, focusing on comparisons before and after 2014, when the establishment of innopolis start-up began to increase rapidly. Main findings are as follows. First, in the early stage of the quantitative expansion period, policy changes related to innopolis start-up were the main factors for the increase in innopolis start-ups. In addition, the rapid increase in the establishment of innopolis start-up after 2016 was largely influenced by changes in the start-up environment and institutional changes related to innopolis start-up. Second, the time of registration and size of the capital of innopolis start-up had a statistically significant effect on the sales for 3 years after registration. This result shows that with the rapid increase in innopolis start-ups, the need to build a customized support system for innopolis start-ups by size or growth stage has increased.

The Effect of Government's Fairness as the Entrepreneur's Satisfactions & Managerial Performance: Focusing on the Differences between Start-up Companies' Growth Stage (정부의 창업지원 공정성이 만족도 및 경영성과에 미치는 영향: 창업기업의 성장단계별 차이를 중심으로)

  • Jang, Younghye;Lee, Jeonghye;Kim, Pansoo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.4
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    • pp.109-120
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    • 2020
  • This study examines how the government's fairness in entrepreneurship support affects satisfaction and management performance, and examines whether these influences are different for each growth stage of start-up companies. For this study, data were collected for start-up companies that received government support for start-up within the past 5 years. Total 611 copies of the data were used in this study. The collected data were analyzed using SPSS and AMOS. The fairness used in this study was divided into three types, procedural fairness, interactive fairness, and distributed fairness. The effect of the three fairness on the satisfaction of start-up support project was analyzed. In addition, the effect of business support satisfaction on business performance was analyzed, where the business performance was evaluated by the questioner's satisfaction with their business. The start-up phase was divided into the start phase, early growth phase, stagnant phase, and high-level growth phase, and the moderating effect between the fairness and satisfaction of the government-supported projects by start-up phase was analyzed. As a result, it was found that every concept of fairness had a positive (+) effect on the satisfaction of the entrepreneurship support project, and the satisfaction of the entrepreneurship support project had a positive (+) effect on the management performance. The concept of procedural fairness in the start phase, procedural fairness in the early growth phase, interactive fairness, and the concept of all fairness in the stagnant phase influenced the satisfaction of the start-up support project. In this study, the fairness and effect of government-supported projects affecting the management performance of start-ups were identified by growth phase of start-ups. The results of these studies will help build a systematic system for entrepreneurship support and for start-ups, it will also greatly contribute to finding differentiated growth plans by growth stages of start-up companies.

An Empirical Study on High-technology Innovative SMEs' Characteristics and their Bottlenecks across the Growth Stages (기술혁신형 중소기업의 특성과 성장단계에 따른 애로요인의 실증적 연구)

  • Chang, Young-Soon;Kim, Ju-Mi
    • IE interfaces
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    • v.20 no.3
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    • pp.418-426
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    • 2007
  • This study is to suggest the government's support direction for the small and medium sized enterprises (SMEs) by examining the relations among technology level, innovation factors, entrepreneur's characteristics, and start-up reasons. The management bottlenecks and the necessary fields of government's support are also investigated across the company's growth stages. Empirical analysis was conducted based on the 318 Korean SMEs' data receiving the Venture and/or Inno-biz certification. Results show that managing difficulties of the company have typical pattern according to the stage of growth. The characteristics of an entrepreneur such as age, education background and past experience affect the early stage of starting business. We also found that the technology level is closely connected with operational innovation activities and circumstances, entrepreneur's characteristics, start-up motives, and technological innovation activities.