• International Commerce and Information Review
• /
• v.19 no.4
• /
• pp.75-91
• /
• 2017

Lately, countries around the world have been focusing their efforts on shifting from conventional industries to innovative-technology-based industries, and committing their competencies to growing startups as an important next-generation industry that will lead national competitiveness. However, there are inadequacies in studies and methods that analyze research and development (R&D) investment and startup performance from a technology perspective, which is an innate nature of startups. This study analyzed the correlation between a startup's R&D investment and its performance. More specifically, this study performed a correlation analysis and a panel analysis on startups that reached KRW 100 billion in revenue; these analyses were not applied in previous studies. The following are the findings: first, the R&D investment percentage of startups located in other regions was relatively higher than that of those in the Seoul metropolitan area, and second, when a startup's operating margin and net profit margin were high, its R&D investment percentage tended to go higher. In conclusion, this study identified that R&D performance resulting from R&D investment was a core competency factor in the success of a startup.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.4
• /
• pp.31-43
• /
• 2022

Startups are recognized as the vitality of the economy, and countries are competing to attract competitive overseas entrepreneurs and startups to their own startup ecosystem. In this global trend, entrepreneurs cross the border without hesitation, expecting abundant available resources and a startup friendly environment. Despite the increasing frequency of start-up migration between countries, studies related to this are very rare. Therefore, this study has chosen the cross-border migration of startups between countries as a research topic, and those who have been involved in the cross-border entrepreneurial migration to South Korea as a research sample. This study consists of two stages. The first research stage hires a Delphi method to collect expert opinions and find major factors related to the global startup migration. Drawing on the prior literature on the regional startup ecosystem at the national level, this stage is to conduct expert interviews in order to discover underlying factors and subfactors important for global migration of startups. The second stage measures the importance of the factors and subfactors using the AHP model. The priorities of factors and factors were identified hiring the overseas entrepreneurs who moved to Korea as the AHP survey samples. The results of this study suggest some interesting implications. First, a group of entrepreneurs with nomadic tendencies was found in the trend of global migration of entrepreneurs. They had already started their own businesses with the same business ideas in multiple countries before settling down in Korea. Second, important unique factors and subfactors in the context of global start-up migration were identified. A good example is the government's support package, including start-up visas. Third, it was possible to know the priority of the factors and subfactors that influence the global migration of startups This study is meaningful in that it preemptively conducted exploratory research focusing on a relatively new phenomenon of global startup migration, which recently catches attention in the global startup ecosystem. At the same time, it has a limitation in that it is difficult to generalize the meanings found in this study because the research was conducted based on the case of South Korea

• The Journal of the Convergence on Culture Technology
• /
• v.9 no.5
• /
• pp.549-555
• /
• 2023

The main point related to the entrepreneurial ecosystem is that in an environment where a good entrepreneurial ecosystem has been established, startup companies can generate good results. From this perspective, this study examined the perception of entrepreneurs regarding the entrepreneurial ecosystem in the Daegu by conducting an analysis of importance and satisfaction towards the Daegu entrepreneurial ecosystem, using the results of the Innovation Entrepreneurial Ecosystem Establishment and Operation Project of the Daegu Creative Economy Innovation Center, which is a key member of the entrepreneurial ecosystem. The analysis results showed that the importance and satisfaction of the entrepreneurial infrastructure were classified as high, while the importance and satisfaction of finance (investment and support) and securing human resources were shown to be low. Based on the results of this study, we confirmed the perception of entrepreneurs regarding the entrepreneurial ecosystem in Daegu and provided implications for improving the regional entrepreneurial ecosystem and policy directions.

• The Journal of the Convergence on Culture Technology
• /
• v.10 no.2
• /
• pp.471-485
• /
• 2024

This study explores the effective utilization of generative AI for conducting in-depth interviews within the lean startup environment. With recent technological advancements, the application of generative AI in enhancing operational productivity has been on the rise across various organizations, and this trend extends to the lean startup milieu. The research develops specific guidelines and a guidebook aimed at assisting practitioners in lean startups to conduct in-depth interviews using AI, even amidst the constraints of limited time and capital. The proposed guidebook facilitates practitioners to swiftly design and conduct interviews, thereby promoting an agile and flexible working environment within lean startups. Moreover, this study investigates practical methods for applying text-based generative AI services like ChatGPT 4 and Luyten in the fields of design and interviewing, thereby contributing to the academic discussion and practical implementation in these areas. The significance of this research lies in its potential to broaden the horizon of scholarly debate and practical application of generative AI in lean startups.

• Journal of Venture Innovation
• /
• v.6 no.4
• /
• pp.1-21
• /
• 2023

This study is related to the performance of open innovation collaboration between startups and large corporations and financial institutions. In the life cycle of a typical company, the growth of a startup is difficult to predict. Startups that possess innovative technology but have only recently been established seek to verify their technology and capabilities by participating in open innovation with large corporations and financial institutions, and further strive to lay the foundation for corporate growth. However, if you approach it only as a theoretical coexistence plan, it will be viewed as a vague attempt from the startup's perspective. The purpose of this study is to differentiately verify the benefits of open innovation by analyzing the difference in sales growth of startups for the purpose of sales performance based on the open innovation participation of large companies and small and medium-sized companies(startups). In verifying this, the analysis was based on the sales results of the actual open innovation collaboration B2C model, and the difference was confirmed by comparing before and after collaboration. Here, the differentiation of the study was added by reflecting the corporate growth stage theory, a growth theory. When the corporate growth stage theory was excluded, it was confirmed that sales growth due to open innovation of startups was applied from the third month, and sales growth depending on participation was confirmed to be significant. On the other hand, when the corporate growth stage theory was applied, sales growth was not significant, but the difference in growth could be confirmed from the fourth month, and it was also confirmed in sales growth depending on participation. As a result, this study objectively confirms the effects that can be gained when startups participate in Open-innovation, and it is expected that Open-innovation led by large corporations, financial institutions, and government agencies will develop into a high-quality program environment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.19 no.3
• /
• pp.53-68
• /
• 2024

Generative AI is receiving a lot of attention around the world, and ways to effectively utilize it in the business environment are being explored. In particular, since the public release of the ChatGPT service, which applies the GPT-3.5 model, a large language model developed by OpenAI, it has attracted more attention and has had a significant impact on the entire industry. This study focuses on the emergence of Generative AI, especially ChatGPT, which applies OpenAI's GPT-3.5 model, to investigate its impact on the startup industry and compare the changes that occurred before and after its emergence. This study aims to shed light on the actual application and impact of generative AI in the business environment by examining in detail how generative AI is being used in the startup industry and analyzing the impact of ChatGPT's emergence on the industry. To this end, we collected company information of generative AI-related startups that appeared before and after the ChatGPT announcement and analyzed changes in industry, business content, and investment information. Through keyword analysis, topic modeling, and network analysis, we identified trends in the startup industry and how the introduction of generative AI has revolutionized the startup industry. As a result of the study, we found that the number of startups related to Generative AI has increased since the emergence of ChatGPT, and in particular, the total and average amount of funding for Generative AI-related startups has increased significantly. We also found that various industries are attempting to apply Generative AI technology, and the development of services and products such as enterprise applications and SaaS using Generative AI has been actively promoted, influencing the emergence of new business models. The findings of this study confirm the impact of Generative AI on the startup industry and contribute to our understanding of how the emergence of this innovative new technology can change the business ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.16 no.2
• /
• pp.19-34
• /
• 2021

The government budget for promoting startup have been skyrocketed as catching up with increasing demands for high-tech startup by disruptive innovation resulted from rapid technology change. However, major trend of startup have still fallen on self-employed type of startup due to the lack of expertise and fund in spite of desperate government policy efforts. In reality, the access to high-tech startup has been very limited and too high huddle to would-be entrepreneur. This paper implement empirical analysis on the effects of entrepreneur competency and satisfaction level to government support, considering these as the KSF for the growth and success of high-tech startup, to the performance of the company. In particular, it focus on defining unique characteristics of high-tech startup through differential proving by the backgrounds of entrepreneur such as major, R&D experience, patent possession, CTO possession. This research carry out survey to 217 entrepreneurs in high-tech company in Daejon and Daegue at R&D Special Innopolis Zone. Research results are as follow. First, entrepreneurial achievement competencies, conceptualization competencies, network competencies and market recognition competencies positively affect the financial and non-financial performance and organizational and technical competencies, while organizational and technological competencies only positively impact on non-financial performance. Second, the satisfaction level of government support showed a positive moderating effect on entrepreneurial achievement competencies and financial performance, while no significant effect in other competencies. Third, positive differential effect by the technological background of entrepreneur such as Major, R&D experience, patent possession, CTO possession) have been confirmed. This paper deliver several significant implications and contributions, First, it propose classified and systematized entrepreneur competency through the domestic and foreign literature reviews. Second, it proves the need for the wider spread of team based startup culture rather then sole startup. Third, it also proves the important role of technological background of entrepreneur among the characteristics of high-tech startup.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.9 no.6
• /
• pp.37-46
• /
• 2014

This study investigates the effects of the degree of preparation engaged in the related industry, and the amount of financial support program on R&D performance of technology based startup companies. This study seeks to discover the core variables that impacts most on business performance. However, it should be noted that the validity of such variables and their impacts on business performance can be contentious. The study sets hypothetical variables as following. Intensity of preparation of the startup company, amount of preparation and amount of work experience in related industry are independent variable. The amount of financial support program was selected as a moderating mediating variable. According to the results, the intensity of preparation had a positive relationship with R&D performance, as opposed to work experience of the founder having a negative relationship on R&D performance. The amount of support program had no significant relationship with R&D performance. Furthermore, there are negative modified effect between the amount of support program and work experience. And, there is no relationship modified effect between support program and work experience. Existing policies tend to lean heavily toward young entrepreneurs through support and guidance. The government has placed great emphasis on policies that aim to promote and create jobs for young individuals. The results suggest that the government should review their policies toward young technological entrepreneurs and that these entrepreneurs should prepare thoroughly before launching any startups.

• Knowledge Management Research
• /
• v.25 no.1
• /
• pp.21-41
• /
• 2024

The global Industry has been shaped by start-ups that originated with knowledge-based innovative strategies or technologies in the 21st century. Specifically, laboratory start-ups that rely on research papers or patents for new technology development are recognized for their high survival rate and the creation of employment opportunities. Our study concentrated on 'I-Corps', which also introduced in Korea, standing for innovation corps is a laboratory startup program launched in 2011 by the NSF(National Research Foundation) to commercialize R&D results and foster entrepreneurship as part of the policy to build a start-up system at the national innovation level. In this study, we proposed and empirically tested a research model focusing on teams participating in the I-Corps program to determine how startup team diversity, among the team characteristics of laboratory startups, affected patent performance. As a result of the analysis, among the proposed variables, age diversity, educational background diversity, and value diversity had a significant impact on patent performance. The results of this study are expected to further strengthen the theoretical and practical foundations of researchers or practitioners of the I-Corps program, as well as related areas involving technology & laboratory startups, intellectual property and knowledge management fields in the future.

• Journal of the Korean Society of Industry Convergence
• /
• v.26 no.3
• /
• pp.483-497
• /
• 2023

This study aims to provide strategic recommendations for promoting the development of the global satellite data services industry by analyzing the startup landscape. Based on the analysis of startup data, such as number of startups, market segment, and funding amount, we examined the paradigm shift in the global satellite data services market, particularly its convergence with other market segments. To this end, we derived the cumulative funding-convergence dynamics matrix, which classifies the converging areas into four quadrants by considering the growth rate of converging segments and the cumulative funding amount. In this way, we can specify converging areas in the satellite data services market that bear potential importance for the creation of new markets. The findings of this study are expected to contribute to the advancement of the satellite data services industry and facilitate the exploration of new market opportunities. Furthermore, they can serve as a valuable reference for policy makers, industry stakeholders, government officials, and researchers involved in the satellite data services industry in capitalizing on the emerging space economy.