• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.41-55
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• 2023

In order to secure sustainable competitiveness of startups, business model innovation is an important task to achieve competitive advantage by transforming the various elements that make up the business model. This study conducted a multi-case analysis study on leading smart farm companies around the world using an analysis framework based on business model theory. Through this, we sought to identify business model types and their constituent elements. For this, 19 companies were selected from the list of top 10 investment startups of the year for the past three years published by Agfunder, a global investment research company specializing in AgTech. Then data collection and analysis of the company cases were conducted according to the case study protocol. As a result of the study, the business model types were analyzed into four types: large-scale centralized production model, medium-to-large local distributed production model, small-scale hyperlocal modular FaaS model, and small-scale hyperlocal turnkey solution supply model. A comparative analysis was conducted on five business model components for each type, and strategic implications were derived through this. This study is expected to contribute to improving the competitiveness of domestic smart farm startups and diversifying their strategies by identifying the business models of overseas leading companies in the smart farm field using an academic analysis framework.

• Journal of Venture Innovation
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• v.1 no.1
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• pp.49-65
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• 2018

For a long time the German economy was primarily defined by large corporations and thriving small and medium-sized enterprises. Since about 2005 a second strand has started to emerge and it is one which is becoming increasingly important and is creating jobs - start-ups in the digital sector. This start-up activity is taking an important role in Germany's economic development: Start-up companies spawn innovations and create jobs, thus promoting the concept of competition. In general "start-up" refers to digitally-driven companies that are not more than five years old. Germany's start-up policy consists of three main parts. First of all, Germany has the characteristics of technology-based start-ups. The Hartz reform since 2002 has shown its focus on technology-based start-ups. In particular, it is the most appropriate for a start-up company to take the role of a new technology company to respond to changes in the global industrial structure. Second, it is approaching from a long-term perspective. In this regard, the small business policy, including Germany's new business policy, is seen as a tradition that can be consistent and can make policy decisions based on the basics rather than following the times. Third, the government is implementing policies centered on demand. Germany's start-up policy is summarized as a technology-based policy and new job creation. The policy response is that the government seeks the best combination of policies by adapting them to the times from the broad trend of employment market policies. What is important here is that policies are made based on consumers, not suppliers, in the process of policy making and implementation. With the Digital Agenda 2020 the Federal government has likewise committed itself to preparing the digital economy for international competition and making Germany the "No. 1 digital growth country in Europe". Ever since 1998 the Federal Ministry for Economic Affairs and Energy (BMWi) has awarded the "EXIST" start-up scholarship to students and graduates. The Ministry also invests in the High Tech start-up fund. Together with Kreditanstalt für Wiederaufbau (KfW) and 18 other investors from the world of business the seed investor promotes young technology companies. Germany offers start-ups a good infrastructure and lots of funding opportunities. Berlin is regarded as Europe's start-up capital and also attracts lots of international young entrepreneurs.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.21-42
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• 2023

The purpose of this study is to examine the structural relationships of empowerment, continuous learning activities, and collaboration in the effects of person-organization fit and person-job fit on task performance among employees of early-stage startups with less than 7 years of experience that have an agile organizational culture. To achieve this purpose, we developed a research model and established hypotheses based on theoretical review and the results of prior research. Data were collected from employees working in startups with less than 7 years of experience that have an agile organizational culture, and a total of 204 responses were utilized for the final analysis. Before hypothesis testing, we examined the characteristics of the sample, conducted confirmatory factor analysis to assess measurement model fit, tested convergent and discriminant validity and analyzed reliability. After confirming the goodness of fit of the structural equation model, it tested the hypotheses, including mediating effects, based on the results of the structural equation model analysis. The results show that person-organization fit has a significant positive effect on empowerment, continuous learning activities, and collaboration. Similarly, person-job fit was found to have a significant positive effect on empowerment, continuous learning activities, and collaboration. However, it was found that empowerment did not have a statistically significant effect on task performance, while continuous learning activities had a significant and negative effect on task performance. Finally, collaboration was found to have a significant positive effect on task performance, and the mediation analysis results indicated that collaboration had a mediating effect on the relationship between person-job fit and task performance. Based on the findings of this study, it discussed the significance of the study and theoretical and practical implications. It also discussed limitations of the research and suggested directions for future research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.191-209
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• 2023

Amid rapid changes in technological innovation due to the influence of the 4th Industrial Revolution and COVID-19, research related to absorption capacity and patent activities to promote technological innovation of Korean technology start-ups is important in this uncertain environment. This study aims to examine the effects on entrepreneurial performance and patent activities by reconstructing absorptive capacity, an organizational capability, for technology-based startups in fields such as BT and ICT with less than seven years of establishment, distinguishing between potential absorptive capacity and realized absorptive capacity. The study also seeks to develop a theoretical research model. To accomplish this, data was collected from managerial executives, including CEOs of 215 technology startups. The following hypotheses were tested: Firstly, potential absorptive capacity had a significant impact on patent activities, while realized absorptive capacity did not. Secondly, potential absorptive capacity had a significant impact on technological performance, while realized absorptive capacity did not. Thirdly, both potential and realized absorptive capacity had a significant impact on financial and non-financial performance. Fourthly, patent activities indirectly influenced potential absorptive capacity and technological performance, but did not affect realized absorptive capacity. Fifthly, patent activities indirectly influenced potential absorptive capacity and financial performance, but did not affect realized absorptive capacity. Lastly, patent activities indirectly influenced potential absorptive capacity and non-financial performance, but did not affect realized absorptive capacity. The practical significance of this study lies in providing useful guidelines for building the core capabilities of organizations through absorptive capacity and patent activities. Furthermore, it is expected that startups that have not recognized the formation process of absorptive capacity for patent activities will perceive the formation mechanism of absorptive capability anew and show considerable interest in future potential and realized absorptive capacity as part of their management strategies. This is anticipated to play an important role in adapting to rapidly changing technological advancements, the startup ecosystem, and securing sustainable competitive advantages.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.71-85
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• 2021

Representative domestic start-up support organizations include the Business Incubator(BI), Korea Institute of Startup & Entrepreneurship Development(KISED), Techno Park(TP), and Center of Creative Economy Innovation(CCEI), and there are about 260 Business incubator nationwide. The Business incubator is operated by universities, research institutes, and private foundations or associations. The organization consists of the center director and the incubating professionals (hereinafter referred to as "manager"), etc., and performs tasks such as center operation management and incubation support services for tenant companies. Until now, research on the operation of Business Incubator has been mainly focused on the performance of tenant companies. Studies on whether the manager's competency characteristics directly or indirectly affect the performance of the tenant companies through psychological mediators such as self-efficacy and organizational commitment were very scarce. The purpose of this study is to explore various factors influencing organizational commitment and job performance by the competence characteristics of Business incubator managers, and to explain the causal relationship among those factors. In particular, the difference in perception was investigated by a manager's survey that influences organizational commitment and work performance at the Business incubator. Through this, we intend to present practical implications for the role of managers in the operation of Business incubators. This study is an exploratory study, and the subject of the study was a survey of about 600 managers working at Business incubator nationwide, of which 116 responses were analyzed. Data analysis included descriptive statistics, exploratory factor analysis, and reliability. Structural equation model analysis was performed for hypothesis tests. As a result of the analysis, it was found that the cognitive characteristics of the Business incubator manager, communication, and situational response as the behavioral characteristics had a positive effect on the manager's self-efficacy, and the behavioral characteristics had a greater effect on the self-efficacy. It was also found that the manager's cognitive and behavioral characteristics, and self-efficacy had a positive effect on organizational commitment and work performance. In particular, a manager's self-efficacy has a positive effect on organizational commitment and work performance. This result showed that the manager's competency characteristics increase the manager's self-efficacy as a mediating factor rather than directly affecting organizational commitment and work performance. This study explains that the manager's competency characteristics are transferred to organizational commitment and work performance. The results of the study are expected to reflect the job standard of the National Competency Standards (NCS) and basic vocational competency to the job competency of managers, and it also provides a guideline for the effective business incubator operation in terms of human resource management. In practice, it is expected that the results of the study can reflect the vocational basic skills of the Business Incubator manager's job competency in the National Competency Standards(NCS) section, and suggest directions for the operation of the Business Incubator and the manager's education and training.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.165-175
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• 2023

In venture creation research, studying 'entrepreneurial leadership' is important for uncovering and comprehending the underlying causal process in innovative behavior performance. Although previous studies provide that entrepreneurial leadership enhances followers' innovative behavior, there is few research on entrepreneurial leadership and followers' characteristics interaction. The present study's focus is paradoxical effects of entrepreneurial leadership on self-efficacy and innovative behavior. On the basis of individual regulatory focus, this study suggests that interaction effects of entrepreneurial leadership and followers' regulatory focus differed in promotion view and prevention view followers' innovative behavior. To strengthen the casual mechanism, this study conducted in priming experiment method using employees in SMEs. This study used a 2(entrepreneurial leadership vs. control) x 2 (regulatory focus: promotion vs. prevention) between-participants design. The results of this study provide that (1) Individuals in promotion focus especially benefited from entrepreneurial leadership in terms of its effect on their self-efficacy and innovative behavior; (2) whereas entrepreneurial leadership was negatively related to self-efficacy and innovative behavior of followers' prevention focus. In sum, results of the present study supporting evidence for hypotheses, combined effect of entrepreneurial leadership and regulatory focus on innovative behavior through self-efficacy. Experimental results confirmed hypotheses of this study, revealing that promotion focus show more innovative behavior than prevention focus when their leaders' leadership style is entrepreneurial leadership. Also, the paradoxical effect of entrepreneurial leadership and regulatory focus of followers on innovative behavior was mediated by followers' self-efficacy. This study helps explain how leaders' entrepreneurial leadership boost followers' innovative behavior, particularly for those employees who have promotion focus. The current study contributes to the theory of entrepreneurial leadership and regulatory focus and innovation literature. Findings of this study shed light on the organizational processes that shape innovative behavior in venture/startup corporations and provide contributions for venture business field.