• Title/Summary/Keyword: growth capital

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Some lessons from German startup policies (독일의 창업정책과 정책적 시사점)

  • Kim, Young-woo
    • 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.

A Case Studies on the Success Factors of Innovative SMEs (혁신 형 중소기업의 성공요인에 관한 사례연구)

  • Kim, Jin-Hee;Kim, Dae-Ho;Kim, Hong
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.3 no.2
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    • pp.65-88
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    • 2008
  • To achieve the age of 30,000 dollars GNP, The business with speed will hold a more crucial point than the business with scale, and the mass consumption market will be transformed and changed into the niche market. Moreover, it will not be easy for the company without the peculiar and creative technology to survive in the severe competition. Under these circumstances, The innovative company which knows how to use this new paradigm will select the better position in the changing market. Innovation type SMEs are contributing in maintaining the international competitiveness of domestic economy by serving high-tech and the promotion of employment. Also, Innovation type SMEs have the most important economic leverage in our domestic economy. It's a source of the growth in domestic economy. Therefore, A lot of countries have been trying to support innovation type SMEs (with a small capital and high-tech). And many countries also try to protect and promote the innovation type SMEs. Especially the Korean government is also promoting innovation type SMEs in many ways, because the future of innovation type SMEs are not bright. This study explored the three innovative SEMs and studied 1) entrepreneur characteristics, 2) the industry environment, 3) competitive strategies, and 4) resources and capabilities of organization, which have been considered as the success factors for entrepreneurial firms. This study also holds that the characteristics of entrepreneurs is one of the most important factor to impact the success of innovative SMEs. Most of entrepreneurs have started their business with high education career and field experiences and have high intentions in developing new/high techonologies, challenging spirits, and clear vision and goals. The innovative SMEs with small kinds of products and services, narrow market, and small resources are more sensitively impacted by the environment especially. But the SMEs which entered into market early could have the comparative excellencies in their market to survive and grow in the future. They also have competitive advantages in the market using differentiation strategies by technology innovation. Technology innovation and differention strategies are one of the success factors in SMEs, They entered into the niche market using this weapons. The capabilities of changing organization to their changing environment, the open orgarnization culture, the continuous employment education, and the building the organic organization are also success factors of innovative SMEs. The SMEs with the simple organization structure can make fast decisions and operate with the autonomous and flexible ways. These only three cases will not shown successful factors of over 12,000 Innovation type SMEs in Korea and this study of Innovation type SMEs is insufficient from all aspects. But this study have many implications for the future research and the entrepreneurs ready for their business.

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Policy Study on Korean Retail Micro Business (국제 비교를 통한 소매업 소상공인 현황과 정책적 시사점)

  • Suh, Yong Gu;Kim, Suk Kyung
    • Journal of Distribution Research
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    • v.17 no.5
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    • pp.39-57
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    • 2012
  • The unabated influx of micro businesses has turned the Korean retailing market to a rat race, which causes severe financial distress for micro business owners due to heavy competition. The woes of these micro business owner's are exacerbated by the presence of large scale distributors such as Super Supermarket(SSM) and large discount stores. In summary, the Korean retail market is overburdened an uneconomically viable. Retailing has low barriers to entry which attracts unskilled labor or those with little capital. These start-ups have low opportunity costs since they would make low wages elsewhere in the economy. Thus, these owners are content with relatively low returns on their investment. These 'subsistence ventures' are maintained for economical viability rather than economic growth. These 'subsistence ventures' intensifies competition among small-scale businesses. The presence of large retail corporations also aggravates the situation. The recent stagnation of the economy has worsened the retail market in Korea. The overwhelming competition solidifies the coarse structural system and the prolonged economic sluggishness has increased the risk of insolvency for micro business owners. As the economy continues to stagnate, the imminent risk in retailing market will rise up to surface threatening economic stability. More systematic inflows and outflows of retailers are required in order to redress this structural problem. It has been empirically shown that the self-employment rate is high in Korea compared to other OECD countries. To draw the comparison of self-employment rate by industry, Korea shows high rates among transportation, whole sale, retail, education, lodging, and restaurants. In the case of the transportation and education service sectors, this high rate can be explained by the idiosyncratic nature of Korean culture. In the transportation sector, political policies favor private cap service and private freight carriers. In the education service sector, Koreans put particular emphasis on education that leads to many private institutions that outnumber other OECD countries. For these singular reasons, Korea maintains high micro business, self-employed rates particularly in retailing. A comparable nation is Japan, with its similar social, economic, cultural environment among OECD countries. Unlike Korea, Japan has much lower rates of micro business which continues to decrease. Also Korean retailers are much more destitute than Japanese. The fundamental problem of Korean retailing is the involuntary exit of these 'subsistence ventures,' micro businesses with low margins, in which a small drop in demand can lead to financial difficulties for the owner. This problem will be exacerbated when Korean babyboomers retire and join the micro business ventures. The first priority in order to cope with the severity of oversupply in retailing is to provide better opportunities for the potential self-employers. There should be viable alternatives to subsistent ventures. Strengthening the retirement program, scrutiny of exit process, reconfiguration of policy funds are the recommendations.

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Examination of the Current Situations of Security Dogs and it's Development Plans (경호탐지견의 운용실태 및 발전방안)

  • Park, Hyung-Kyu;Kim, Doo-Hyun
    • Korean Security Journal
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    • no.14
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    • pp.215-234
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    • 2007
  • Our country security industry 1960's service expense of the beginning U.S. army unit it accomplishes the growth which is quick with start, currently about 2,500 triumph the security enterprises which it goes over are being active. But the majority in these enterprise about lower cotton can a forever characteristic with pressure and the manpower civil official ability insufficient back of faithlessness management and capital power. To sleep with afterwords it presents the security dogs deployment plan for an efficient security together from the research which it sees hereupon and it does. First, it cultivates the domestic mountain progress dog which is a breed which is suitable with the security dogs and the shovel flesh dog back with the security dogs. Specially the Jindo of the breed which is excellent training which is suitable in task of the security dogs it leads and if it uses appropriately, it industrializes our specific the Jindo and protection there is a possibility of getting the effect which falls to also the gist which it rears rightly. It cultivate the second, security dogs and it magnifies training. The security dogs consequently is it will be able to accomplish the task above 2 branches to training method. Namely, after finishing obedience training, it is to be in security activity it will execute guard or detection back special training which is suitable in task and it will be able to commit. Third, it uses the security dogs which is trained rightly in task. The security dogs the adult escorts, facility expense, the explosive and narcotic drug detection, it will be able to use with the other blind man guidance dogs back. The narcotic drug detection dogs which currently is used specially technique intelligence anger, when considering the tendency of the narcotic drug smuggling offense field which becomes diversification that the role very it is important is a possibility of saying at day. It cultivate a fourth, escort relation specialty manpower and it improves the breed of the security dogs. The hazard which cultivate the security dogs use necessary personnel the breed of security dogs, the security dogs training center it opens the security crane relation subject of the college which stands and (university) it improves it establishes and training which is suitable in task it is to do to execute letting in the training map company. Specially, the hazard which improves the breed of security dogs in the progress mind quality which stands against the portion where the breed improvement is demanded as the portion where the internal organs research and investment are necessary sees. The security dogs compares in labor cost and the expense holds few, if it uses the our specific domestic dogs it will be able to use efficiently in the task which is various it solves the multi branch plans for wisly with the security dogs industrial development security of course contemporary history sliced raw fish sees demands compared to being immediacy and the life which is happy business the place where it does it sees it will be able to contribute a lot as.

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Current Situation and Cooperation on the Metropolitan Airport between Korea and Japan (한국 및 일본의 수도권 공항의 현황과 협력)

  • Kim, Doo-Hwan
    • The Korean Journal of Air & Space Law and Policy
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    • no.spc
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    • pp.137-163
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    • 2007
  • The air market in Asia has already entered upon the age of limitless competition. It means a very important moment in Asia air market. Each Asian country thus has put a lot of effort into a development plan and support to their hub airport. In order to achieve such a plan, first of all we should build closer cooperation system between the two countries Japan and Korea. The Korea and Japan are very fast growing in the northeast countries within the global air transport market. Air passenger and cargo traffic volumes between Korea and Japan have increased dramatically, since the 1990s. In response to such a trend, both countries have opened new airports and expanded existing facilities in the hopes of laying claims to the main international hub airport in Asia. Apart from the trend, air transportation between Korea and Japan's metropolitan areas is the only transportation in substance, even if they are located very closely in geographical position. The air transportation between the two countries shows that it is necessary to get fast and more convenient because of the economic and cultural interchange and exchange concentrated on the metropolitan areas, and that will promote the economic growth of Korea and Japan. However, within the air transportation industry field, there have no sufficient seats/slots to supply the air demand from the capital cities of each country, as well as no counterplan for some problems regarding capacityand sustain ability of metropolitan airports. Thus, it is necessary for us to consider in all aspects and solve them to improve air transportation between Korea and Japan. This paper is to try to demonstrate this matter and from all angles, that is, in legal and political aspects, facilities and given environmental conditions and cooperation between Korea and Japan. I think that it is indeed a great necessary and convenient for many Korean and Japanese tourists to conclude a new 'Open Sky Agreement' between Japan and Korea in order to the prepare the increase of the shuttle flight between Haneda-Gimpo and opening of air route newly for shuttle flight between Haneda and Cheongju as well as opening of air route for shuttle flight between Haneda-Shanghai Hongqiao International Airport and Beijing International Airport for the 2008 Beijing Olympic Games. Furthermore it is a great desirable thing for us to conclude a new 'Open Sky Agreement' in cooperation reciprocally among the Japan, China and Korea for opening the new air route by the shuttle flight.

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A Study on Optimum Tree Planting Density for Apartment Complex (아파트단지 조경수 적정식재밀도 연구)

  • Oh, Choong-Hyeon;Jeong, Wook-Ju;Lee, Im-Kyu;Kim, Min-Kyung;Park, Eun-Ha
    • Journal of the Korean Institute of Landscape Architecture
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    • v.40 no.6
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    • pp.140-147
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    • 2012
  • This study was conducted to investigate optimum planting density for apartment complex. The validity of Landscape Architecture Criteria of Korea was checked for it. We compared our field data with Landscape Architecture Criteria. In this step, the tree density of urban forest was regarded as standard. Field study was examined in 3 apartment complexes located in capital area, especially completed during these 10 years. 10 sites in each complex were selected and tree density per unit area were calculated. This field study data was divided standard size and large size which received weight. And, it was compared and analyzed. And crown projected area(CPA) was calculated considering proper growth of low vegetation and sufficient shade. The outcome shows that minimum size of Landscape Architecture Criteria is rational. But, in the case of planting large size tree received weight, tree density was short comparing with the tree density of urban forest and CPA was less than 50%. By the result of field study in 3 apartment complex, the tree density of apartment complex satisfied or exceeded Landscape Architecture Criteria. But, in the case of planting large size tree, tree density and CPA show high density due to addition planting for deficient landscape. Therefore, the revision of the Landscape Architecture Criteria was required such as deletion or minimization of the weighted clause about the large size tree and regulate the limit CPA not less than 50% and not more than 100%.

The Contribution of Innovation Activity to the Output Growth of Emerging Economies: The Case of Kazakhstan

  • Smagulova, Sholpan;Mukasheva, Saltanat
    • Journal of Distribution Science
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    • v.10 no.7
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    • pp.33-41
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    • 2012
  • The purpose of this study is to analyse the state of the energy industry and to determine the efficiency of its functioning on the basis of energy conservation principle and application of innovative technologies aimed at improving the ecological modernisation of agricultural sectors of Kazakhstan. The research methodology is based on an integrated approach of financial and economic evaluation of the effectiveness of the investment project, based on calculation of elasticity, total costs and profitability, as well as on comparative, graphical and system analysis. The current stage is characterised by widely spread restructuring processes of electric power industry in many countries through introduction of new technical installations of energy facilities and increased government regulation in order to enhance the competitive advantage of electricity market. Electric power industry features a considerable value of creating areas. For example, by providing scientific and technical progress, it crucially affects not only the development but also the territorial organisation of productive forces, first of all the industry. In modern life, more than 90% of electricity and heat is obtained by Kazakhstan's economy by consuming non-renewable energy resources: different types of coal, oil shale, oil, natural gas and peat. Therefore, it is significant to ensure energy security, as the country faces a rapid fall back to mono-gas structure of fuel and energy balance. However, energy resources in Kazakhstan are spread very unevenly. Its main supplies are concentrated in northern and central parts of the republic, and the majority of consumers of electrical power live in the southern and western areas of the country. However, energy plays an important role in the economy of industrial production and to a large extent determines the level of competitive advantage, which is a promising condition for implementation of energy-saving and environmentally friendly technologies. In these circumstances, issues of modernisation and reforms of this sector in Kazakhstan gain more and more importance, which can be seen in the example of economically sustainable solutions of a large local monopoly company, significant savings in capital investment and efficiency of implementation of an investment project. A major disadvantage of development of electricity distribution companies is the prevalence of very high moral and physical amortisation of equipment, reaching almost 70-80%, which significantly increases the operating costs. For example, while an investment of 12 billion tenge was planned in 2009 in this branch, in 2012 it is planned to invest more than 17 billion. Obviously, despite the absolute increase, the rate of investment is still quite low, as the total demand in this area is at least more than 250 billion tenge. In addition, industrial infrastructure, including the objects of Kazakhstan electric power industry, have a tangible adverse impact on the environment. Thus, since there is a large number of various power projects that are sources of electromagnetic radiation, the environment is deteriorated. Hence, there is a need to optimise the efficiency of the organisation and management of production activities of energy companies, to create and implement new technologies, to ensure safe production and provide solutions to various environmental aspects. These are key strategic factors to ensure success of the modern energy sector of Kazakhstan. The contribution of authors in developing the scope of this subject is explained by the fact that there was not enough research in the energy sector, especially in the view of ecological modernisation. This work differs from similar works in Kazakhstan in the way that the proposed method of investment project calculation takes into account the time factor, which compares the current and future value of profit from the implementation of innovative equipment that helps to bring it to actual practise. The feasibility of writing this article lies in the need of forming a public policy in the industrial sector, including optimising the structure of energy disbursing rate, which complies with the terms of future modernised development of the domestic energy sector.

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A Study on Subcontract Animation in Korea during the Industrialization Era - Centered around Animations in 1970-80s - (산업화시대 한국 하청애니메이션에 대한 연구 - 1970-80년대 애니메이션을 중심으로 -)

  • Kim, Jong-Ok
    • Cartoon and Animation Studies
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    • s.43
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    • pp.47-75
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    • 2016
  • This study has analyzed the history of the subcontract animation in Korea that began with Golden Bat of TBC Animation Division in 1966 to 1980s and shed the light on the history of subcontract animation that has been processed over 30 years in Korean animation. For this purpose, through the outlined status of subcontract animation, such as, production company, production status, scale of industry and so forth, the status of the OEM industry then has been checked and it links the solidified background of animation into subcontract production industry with the situation in time for analysis. In addition, on the basis of the foregoing, it is intended to broaden the horizon of the history of animation through the analysis on new search for facilitating the creative animation by overcoming the issues and limits generated by the subcontract animation industry. 1970s was the time that the national objective is to advance heavy-chemical industry and export-led economic growth. From the late 1970s, the animation has been spot lighted as the main-stream export industry through the overseas subcontract orders for animation. Expansion of the subcontract animation production has been influenced from the national policies on public culture, dispersion of color TV, facilitation of video production market and other media changes of the time that led the decline of animation audiences in theaters, and another cause would be in lack of platform of broadcasting companies that avoided the independent animation production for its economic theory. The subcontract animation industry may have the positive evaluation in the aspect of expanding the animation environment, such as, structuring of animation infra, development of new human resources and etc. However, the technology-incentive 'production'-oriented advancement has created distorted structure in advancing the professional human resources due to the absence of 'pre-production' of planning and others as well as the insufficient perception on 'post production (post work)', and it was unable to formulate domestic market by re-investing the capital accumulated for OEM industry into the production of creative animation and it has been assessed as negative aspect. Animation is a cultural and spiritual product of a country. Therefore, the systematic support policy for the facilitation of the creative animation, such as, development of professional human resources, creation of outstanding work, formation of market to make the pre-circulation structure and so forth has to be sought. However, animation is an industry, but there is no perception that it is a cultural industry based on the creativeness, not hardware-oriented manufacturing business. Such a lack of recognition, there was no policies to make the market and facilitate the creative animation by the animation of Korea for this period through the long-term plan and investment for independent work production. Such an attempt is newly begun through diverse searches for protection and advancement of creative animation in Korea after 1990s.

Information technology and changes in firm activities:A case of the service industry in the United States (정보기술과 기업활동의 변화:미국의 서비스산업을 사례로)

  • Lee, Jeong Rock
    • Journal of the Korean Geographical Society
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    • v.29 no.4
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    • pp.402-419
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    • 1994
  • Telecommunication and intormation technology have been conceived as crucial as well as revolutionary elements for recent and future social and economic development, and their development have led to a spatial reorganization and locational change of economic activities. Information technology has resulted in important changes in the organization structure and location of firm. This study draws attention to the understanding of the relationship between the diffusion of information technology and changes in firm activities with the special reference to the service industry of the United States. Information technology has had a significant impact on the growth and changes of the service industry of the United States through changes in the organizational and employment structure, market structure, and locational changes. The impact of information technology on location changes of the service industry shows two opposite patterns, concentration and decentralization. Among these patterns, the location change in the service industry of the United States reveals predominantly the decentralization tendency such as suburbanization and transfer to lower ranking cities rather than concentration. In case of Korea, however, it is anticipated that the rapid development of information technology may lead to the concentration of the service industry in Seoul and Capital region.

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The Economic Feasibility Analysis of Crop Cultivation Practice Project in Pirganj and Kurigram Districts, Bangladesh (작물재배기술의 경제적 타당성 분석 : 방글라데시 피르간즈군과 쿠리그람군 사례)

  • Tabassum, Nazia;Lim, Jae-Hwan;Gim, Uhn-Soon
    • Korean Journal of Agricultural Science
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    • v.35 no.1
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    • pp.85-100
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    • 2008
  • The United States Department of Agriculture (USDA) funded collaborative project on The Economic Feasibility Analysis of Crop Cultivation Practice Project in Pirganj and Kurigram Districts in Bangladesh will started during 2008-2012, for 4 years with total project cost of US$ 571,270. The project will be implemented in 6 villages; has 1,097 hectares areas which is divided into 948 hectares of agricultural land, 52 hectares of forest land and 345 hectares of other land, covered 1,059 households equal to 5,305 persons in Pirganj and Kurigram districts The project has proposed to be implemented in joint collaboration by Bangladesh Agricultural Research Council (BARC), Bangladesh Agricultural Research Institute (BARI) and Rangpur Dinajpur Rural Service (RDRS) Bangladesh with full participation of the farmers' groups of respective project site. The specific objectives of the project are: (1) to estimate the productivity of paddy, wheat, maize, tobacco and sugarcane (2) to determine the cost of production and returns to the above mentioned crops (3) to study the interrelationship between inputs and output of the above mentioned crops and (4) to examine the resource utilization patterns at farm level. In this project analysis, the net incremental profit is US$33,028. The expected incremental project benefit and incremented production cost are estimated as US$ 219,959 and US$ 186,931 respectively. The financial decision making criteria would be followed in this crop cultivation practice project. After the project implementation, the expected project benefits are assumed to be continued for 15 years. The benefit cost ratio (B/C) of the project is estimated at 1.077 (table 11) when using discount rate of 10% as an opportunity cost of capital in Bangladesh. FIRR of project is estimated at 26.15% which is bigger than the opportunity cost by more than double. So this project is financially feasible and acceptable. Therefore, this project should be extended to other areas to increase the farm income and economic growth of marginal poor farmers in Bangladesh.

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