• Journal of Practical Engineering Education
• /
• v.16 no.4
• /
• pp.433-447
• /
• 2024

This study analyzes the impact of core competencies of technology innovation startups-namely technological development capability, organizational management capability, and digital transformation capability-on financial performance through the mediation of innovativeness. Previous research has focused on the non-financial performance of startups, with a lack of studies examining financial performance, which is a crucial indicator of actual business success. Therefore, an online survey was conducted targeting domestic technology innovation startups, and data from 213 responses were used for the final analysis. The results of the structural equation modeling indicated that technological development capability, organizational management capability, and digital transformation capability positively influence innovativeness. Additionally, higher levels of innovativeness were associated with improved financial performance, and innovativeness was found to play a significant mediating role between core competencies and financial performance. These findings suggest which competencies technology innovation startups should focus on to achieve financial goals.

• Asian Journal of Innovation and Policy
• /
• v.11 no.2
• /
• pp.183-201
• /
• 2022

The purpose of this article is to provide preliminary findings on the state of digital technology applications of startups in Southeast Asia and to discuss issues related to digital health adoption in the region. This exploratory study is based on an empirical analysis of startups and digital technology applications information from various publicly available website databases. Public and private organizations would benefit from a better understanding of the current state of digital technology applications provided by startups and the challenges faced in digital health adoption. This article contributes to the existing literature by offering an overview of startups and digital technology applications in the digital health space in the fast-growing region of Southeast Asia. It offers advice to organizations intending to pursue healthtech initiatives on the types of health services provided by startups and issues that need to be addressed to increase the adoption rate.

• World Technopolis Review
• /
• v.7 no.2
• /
• pp.82-96
• /
• 2018

This paper discussed the application process of the Dot Idea program. The Dot Idea program is an incubation and open innovation program co-created by Unitec, an incubator at Tecnosinos Tech Park, and an SAP innovation team. The main objective of this study was to cover an existing gap in the literature regarding the practical application of an open innovation methodology. Many companies seek interaction with external parties to enable advancement toward identified innovation opportunities. Technology clusters, parks, and incubators have played an important role in promoting connections and interaction. Consequently, the Dot Idea program emerged as a result of a joint effort to create a program using a design science research methodology aiming to foster new businesses and strengthen Brazil and Latin America as a hub to develop new solutions for traditional organizations. In regards to lessons learned, the Dot.health trial had some success but also experienced difficulties; these related to the relationships between startups and a hospital's internal teams, and startups' needs to be funded from the beginning in order to be fully dedicated to a project.

• Knowledge Management Research
• /
• v.20 no.2
• /
• pp.197-216
• /
• 2019

The Korean government has been focusing on supporting technology startups to solve social and economic problems such as low growth, declining economic growth rate, rising youth unemployment rate and lack of new growth engine. Although the failure rate of young technology startups is very high, relevant researches are still scant. On the basis of previous researches, this study has identified four growth factors of technology startups: characteristics of entrepreneurs, technical superiority and originality of business items, focused marketing strategy, and follow-up government support projects. Five young technology startup cases were selected and analyzed in the cosmetics industry which were supported by the Six-month Challenge Platform project of Chungbuk Creation Economic Innovation Center. The main findings of the case study were as follows: First, product development through inhouse R&D rather than external contracted R&D was beneficial to acquiring follow-up government support projects and external investment. Second, choosing a small niche market and concentrating marketing efforts on the target market had a positive effect on firm performance. And, third, relevance of entrepreneurs' college major and technological originality of business items were confirmed to influence firm performance positively in the early stage. The results are expected to help young technology startups survive successfully and establish a foothold for growth in their early stage.

• 한국벤처창업학회:학술대회논문집
• /
• 2022.04a
• /
• pp.25-30
• /
• 2022

Despite the importance of partnership for commercialization of innovations in startups, it is not easy for startups to persuade an established firm to collaborate on a completely novel idea. If information transfer about the innovations is too costly, startups may avoid pursuing radically new projects. Our paper examines the impact of policy signals on the novelty of the innovations pursued by startups. In the context of the Orphan Drug Act(ODA), we find that startups develop more radical therapies when policy signals help them to convince potential partners of the value of prospective therapies. While the likelihood of partnership increases, the timing of partnership is delayed in ODA-affected fields.

• 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.4
• /
• pp.231-241
• /
• 2024

Discovering innovative startups that use public technologies from universities and government-funded research institutes is crucial for maintaining national competitiveness. Advancing public R&D technology, discovering entrepreneurs from research institutes, and fostering and investing in deep-tech startups are very important at the national level. However, there is a lack of research on activating startups using public technologies, and research analyzing each governance entity is needed to activate the innovation startup ecosystem. Therefore, this study conducted an empirical analysis of the priorities for revitalizing the innovation startup ecosystem among researchers, research institutes, innovative startups, and the government, which constitute the public technology governance. The results of this study revealed that the sustainability of innovative startups (0.308), government innovation startup activation (0.298), research institutions discovering and fostering startups (0.221), and researcher's characteristics (0.173) were the most significant factors in the public R&D technology innovation startup ecosystem. And the sub-factors of researcher's characteristics, seizing business opportunities (0.305) was most important, and creating a startup-friendly culture (0.293) was most important among the sub-factors of research institutions discovering and fostering startups. Investment funds and procurement (0.373) was the most critical sub-factor for the sustainability of innovative startups, while a dedicated fund for public technology (0.305) was the most important among the sub-factors of government schemes for promoting innovative startups. A total of 20 factors were analyzed sequentially according to their importance in the weights for evaluation factors and sub-factors. By sub-factor, investment and financing for innovative startups (0.115), dedicated government fund for public technology (0.091), securing high-quality human resources for innovative startups (0.078), improving government regulations and permits related to innovative technologies (0.074), and creating a startup-friendly culture in research institutions (0.065) were the most important. This result emphasizes the significance of securing competitiveness to become a sustainable public technology startup. In addition, based on entrepreneurship experience, 'dedicated funding for public technology' was most important for the group with startup experience, while the group with no experience needed more 'investment and funding'. Furthermore, By region, 'improving government regulations and permits' was the highest priority in the Seoul metropolitan area, while 'attracting investment and financing' was the most important in Daejeon. Therefore, the results of this research, it is important to give policy priority to innovative startup companies in order to activate the innovation startup ecosystem in the public technology sector. The political and practical implications were derived that long-term (10 years or more) investment and funding for deep tech companies and the establishment of public technology-only funds are the most urgent and important.

• Journal of Korea Technology Innovation Society
• /
• v.20 no.3
• /
• pp.642-663
• /
• 2017

The purpose of this study is to investigate the factors that affect professor startups and their performances in Universities in Korea. We included 5 categories of factors: University's size and reputation, University's technology commercialization staff number and startup deregulation, University's resources for research and technology commercialization, University's patents and professors' publication, and student startups. We analyzed 150 Universities, using Korean government's Academyinfo database, and additional data for University ranking and government's projects for University startups. Our analysis shows that Universities' fund amount for research and technology commercialization, Universities' amount of patents give a positive impact on Universities statistically significantly, while Universities' size or reputation does not. In addition, the amount of patents and startup projects funded by the government give a significantly positive impact on the annual sales of the professor startups. Furthermore, student startups are in a positive relationship with professor startups and their sales, showing a synergy effect between the two startup groups in Universities. The result implies that Universities and government need to focus on supporting patenting activities, providing technology commercialization funds, and collaboration activities between professors and students for their startup activities.

• Asian Journal of Innovation and Policy
• /
• v.7 no.1
• /
• pp.79-102
• /
• 2018

In an entrepreneurial ecosystem, the failure rate of startups is extremely high at 90%, and every startup that fails becomes an orphan. This phenomenon leads to higher costs of failure for the entrepreneurs in the ecosystem. Failed startups have many lessons to offer to the ecosystem and offer guidance to the potential entrepreneur, and this area is not fully explored compared to the literature on successful startups. We use a case based method distinguishing a failed startup and a successful startup, studying the entrepreneurial characteristics and firm level factors which cause the failures, in the technology startup ecosystem of Bangalore. We study one of the modes of exit adopted by failed startup entrepreneurs and draw key lessons on causes that culminate in failures. We have identified that factors such as the time to minimum viable product cycle, time for revenue realization, founders' complementary skillsets, age of founders with their domain expertise, personality type of founders, attitude towards financial independence and willingness to avail mentorship at critical stages, will decisively differentiate failed startups from the successful ones. Accordingly, implications have been derived for potential entrepreneurs for reducing the cost of failures in the entrepreneurial ecosystem.

• Journal of Technology Innovation
• /
• v.29 no.4
• /
• pp.95-124
• /
• 2021

Startups play an important role in economic growth and job creation in niche markets, thus governments regularly expand their research and development(R&D) budgets accordingly. As stratups are more dependent on governments to compensate for insufficient resources and capabilities than large and medium-sized companies, trust in government policies will be important. In this study, we analyzed the impact of startups' trust in government R&D policies on innovation performance. There were three major results. The first result is that government R&D investments in startups increase innovation performance in the manufacturing and high-technology industries but did not affect other industries. The second result is that trust in government R&D policies increased innovation in high-and medium-high technology and manufacturing industries. The third result is that trust in government R&D policies affects innovation before, during, and after evaluation of support process. We analyzed the importance of trust to the effectiveness of government R&D support to determine how to effectively provide it. The results show that governments need to differentiate the types of R&D support they provide according to the target firm's technology level and whether they are a manufacturing company and that appropriate R&D support mechanism should be developed for low-technology and non-manufacturing companies. Finally, governments should allocate resources and make fair and transparent decisions to help companies grow, not to better supervise them.