• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.35-45
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• 2012

This study empirically analyzed how technological innovation performance of venture business is affected by utilization of external resources, especially utilization of external cooperative network, government's policy funds and venture capital funds, using '2008 Venture Business Investigation'. This study further analyzed how the effect of utilization of external resources on technological innovation performance varies according to growth stage. Analysis results show that all variables related to utilization of external resources, i.e. external cooperative network, government's policy funds and venture capital funds, were observed as affecting positively to technological innovation performance. However, adjustment effect was not observed as statistically meaningful according to growth stage of venture business. Further analysis just observed that the effect on technological innovation performance at each growth stage varies according to type of utilization of external resources.

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.654-687
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• 2006

Research-based spin-off venture, generally formed to commercialize technology originating from public research institution, could contribute to economic wealth creation and regional development. Although there are some interests in research-based spin-off venture and its success factors across stages of growth, little empirical research was done on research-based spin-off venture's success factors in Korea. The purpose of this research is to investigate research-based spin-off venture's success factors across stages of growth. The methodology used is theoretical and case study. Based on theoretical study, it is found that there are four stages of growth in research-based spin-off ventures such as generating business ideas, finalizing new venture projects, launching spin-off firm, and strengthening the creation of economic value. Then, in order to verify them, a case was analyzed focused on success factors across stages of growth. Additionally, implications and limitations of the result of this study are discussed.

• Asian Journal of Innovation and Policy
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• v.4 no.2
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• pp.217-241
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• 2015

This paper, based on two engineering industry SME case studies, traces the origin and process of technological innovations enabling the development and introduction of new products leading to market expansion and enterprise growth. The study throws light on how entrepreneurs played a decisive role in recognizing market opportunities, building up crucial in-house technological capability, supplementing it with appropriate external assistance, to carry out technological innovations. A constant interaction with its customers is in-built into the system. As a result, the SMEs could achieve successful product innovations leading to their gradual growth, over time. Finally, based on the observations and inferences derived out of the two cases, a theoretical construct of the growth of innovation in SMEs is postulated. This is done linking the three stages of their development: (i) start-up and stabilizing, (ii) building up technological capability and implementing innovations; and (iii) opening up of new markets resulting in firm growth.

• Asian Journal of Innovation and Policy
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• v.11 no.2
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• pp.222-237
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• 2022

As the COVID-19 pandemic crisis left developing countries with economic setbacks, it is high time to highlight that innovative technologies lead the digital economy. The big powers including the United States and China are already implementing industrial policies that involve large-scale fiscal expenditures to secure the lives and safety of their people. To prepare for the future up to 2025, this paper reflects opinions of industry-academia-research experts regarding changes in the external environment and industry trends. By reflecting results of focus group interviews and changes in the external environment and industry trends, a new high-level 5X strategy (Digital Transformation, Energy Transformation, Bio Health Transformation, Supply Chain Transformation, and Research Transformation) to solve national tasks required for the existing ten policy demand fields and ten agenda during lower-level policy implementation stages were derived.

• Journal of Technology Innovation
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• v.12 no.3
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• pp.229-258
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• 2004

To promote successful bioinformatics commercialization in terms of CoPS, we try to explore a commercialization process based on the characteristics of the product. Our study shows that external integration with sector-specific infrastructure is a critical factor to obtaining a knowledge base for CoPS commercialization, and that sector-specific local infrastructure is useful resource for early commercialization stages(imagining, incubating, and demonstrating stages). This paper analyzes Ensoltek's commercialization process on the basis of analysis of bioinformatics industry and Daeduck Science Park. This leads us to suggest the following policy implication for supporting commercialization activities in bioinformatics industry ; long-term investment policy towards infrastructure and software R&D, promotion policy for collaboration, and introduction of commercialisation based industry-university-public research institute cooperation.

• Journal of Korean Society of Rural Planning
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• v.11 no.4 s.29
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• pp.33-45
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• 2005

This study investigates the core elements of the formation and development of cluster using a multi-disciplinary approach and suggests a promoting strategy by development stage of cluster. As a sub-category of regional innovation system, the cluster has been considered as one of the most noticeable methodological argument to make the regional innovation system come true. In the meantime, this study examines the core elements of cluster shown in the theories and examples through six academic fields such as economics, geography, regional development, business administration, sociology and pedagogy and their educational back-ground. By means of establishing the incubation stage in the development of cluster, core elements are composed in the stages of birth, incubation and evolution in subsequent manner. A promoting strategy will be suggested through the implication of core elements in the reestablished stages.

• Journal of Distribution Science
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• v.17 no.9
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• pp.35-45
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• 2019

Purpose - This study analyzes the relationship between inter-function coordination variables, competitor, customer and innovation orientation that has been developed by Narver & Slater (1990), also known as Market Orientation Strategy on SME Sutera's marketing performance, through direct and indirect effect relationships. Research design, data, and methodology - This study uses a sample of 168 respondents who are silk SME entrepreneurs in eleven Silk Craftsman sub-districts in Wajo Regency - South Sulawesi Province, Indonesia. Data collection using a questionnaire with a period between January - June 2019. Data analysis use PLS. The stages of testing the results of analysis go through several stages: the first stage, analysis of variable descriptions, the goodness of fit model (AVE, CR, Cronbach Alpha, R²) and hypothesis test. Results and Findings - From the fifteen hypothesis by direct and indirect effect state six hypothesis are rejected and eleven hypothesis are accepted. Overall, the concepts of Resource Based View theory (RBV) and Structure-Conduct- Performance theory (SCP) also provide a strategic picture for businessmen related to product innovation and service innovation and the urgency of regeneration in order to maintain the continuity of superior products in the future.

• Asian Journal of Innovation and Policy
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• v.9 no.3
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• pp.308-338
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• 2020

The entrepreneurial journey is not short of challenges, and about 90% + tech start-ups experience failure (Startup Genome, 2019). The magnitude of the challenges varies across the tech start-up lifecycle stages, namely emergence, stability, and growth. This opens the research question, do the profiles of a start-up and its co-founder impact start-up success or failure across its lifecycle stages? This study aims to understand and identify the profiles of tech start-ups and their co-founders. We gathered primary data from 151 start-ups (Status: 101 failed and 50 successful ones), and they are across different lifecycle stages and represent six major start-up hubs in India. The chi-square test on status and start-up's lifecycle stage indicates a noticeable correlation, and they are not independent. The Kruskal Wallis test was used to distinguish statistically significant profile attributes. The parameters distinguishing success and failure are identified, and the need to deliver customer experience is emphasized by the start-up profile attributes: Product/service, high-tech nature of a start-up, investor fund availed, co-founder experience, and employee count. The importance of entrepreneurial experience is ascertained with entrepreneur profile attributes: Entrepreneurial expertise, the number of prior and current start-ups, their willingness to start again in the event of failure, and age of co-founder, which is a proxy to learning and experience. This study has implications for entrepreneurs, investors, and policymakers.

• STI Policy Review
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• v.1 no.1
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• pp.93-109
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• 2010

Over the last decade, some Korean enterprises have emerged to become global players in their specialized products. How have they achieved such tremendous technological progress in a short period of time? This paper explores that question by examining the characteristics of technological innovation activities at major Korean enterprises. The paper begins with a brief review of the stages of economic growth and science and technology development in Korea. Then, the existing literature, explaining the Korean innovation model, is analyzed in order to establish a new framework for the Korean innovation model. Specifically, Korean firms have experienced three sequential phases, and thus, the Korean model, at the firm level, can be coined as "path-following," "path-revealing," and "path-creating." Then, the stylized facts in the first phase (path-following) and the second phase (path-revealing) are discussed, in the context of empirical evidence from the areas of memory chips, automobiles, shipbuilding, and steel. In terms of technology development, the Korean model has evolved as "collective learning" in the first phase, "collective recombination" of existing knowledge and technology in the second phase, and is assumed as "collective creativity" in the third phase. Ultimately, all three can be classified as "collective creation". Korean firms now face a transition in the modes of technological innovation in order to efficiently implement the third phase. To achieve remarkable progress again, as they did in the past, and to sustain the growth momentum, Korean firms should challenge new dimensions such as creative technological ideas, distinctive technological capabilities, and unique innovation systems -- all of which connote 'uniqueness'. Finally, some lessons from the Korean technological innovation experience are addressed.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.199-233
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• 2014

This paper attempts to investigate how and why the additionality effects occur in the case when a firm receives government subsidy as opposed to counterfactual situation. To demonstrate this, we selected 12 SMEs(small and medium enterprises) firms in Daejeon area and have conducted multiple case studies. In order to analyse the multiple cases of firms, we classified firms innovative activities into three stages which are composed of input, behaviour and output stages and related various factors. Furthermore, we investigated the differences according to types of firms and stages of firm growth. Empirical results show that various input, behaviour and output additionality effects exist when firms receive public subsidies. Compared to companies in the growth and mature stages, startup phase companies depend on government subsidy extensively and they use public subsidies strategically to develop new product and to change their strategic direction. The attitude of firms to use government subsidies is different according to their types and stage of growth as well.