• Title, Summary, Keyword: venture creation

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Components and Interactions of Venture Ecosystems: A Focus on Korean Case Studies

  • Lim, Chae-Yoon;Kim, Yun-Young
    • STI Policy Review
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    • v.1 no.4
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    • pp.21-28
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    • 2010
  • This study analyzes the establishment of venture companies and the interaction of venture ecosystem components (the core factors of venture ecosystems) with a focus on venture companies, venture capital, and the return market. Government support policies are understood as a catalyst for the venture ecosystem and this study will analyze the implications of government involvement by identifying the role of government policies in the venture ecosystem. According to the results of the empirical analysis with data on confirmed venture businesses by the Small and Medium Business Administration (SMBA), policies that provide direct support to venture companies did not have a significant influence on the establishment of new ventures. However, new investments by venture capital show a statistically significant positive effect and signify that the new investment is an important factor in vitalizing the establishment of new venture businesses and that the economic conditions of the return market have a positive effect. The establishment of venture businesses responds to the changes in real and vertical markets with greater resilience compared to government policies. Given the unique nature of the Korean venture ecosystem that responds to the market with greater resilience than government policies, there must be increased efforts to recover the confidence of the capital markets for venture capital in order to promote improved efficiency.

An Exploratory Study on the Success Factors of Research-based Spin-off Venture Across Stages of Growth: Pertaining to Theoretical and Case Study (연구기반 스핀오프 벤처기업의 성장단계별 성공요인에 관한 탐색적 연구: 이론 및 사례 연구를 중심으로)

  • Jung, Gang-Ok
    • 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.

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Characteristics of Incubator organizations of Hi-tech ventures in the IT industry (정보통신 벤처기업의 배태조직의 특성 분석 - 대학과 출연연구소 연구실을 중심으로 -)

  • 남영호;김완민
    • Proceedings of the Technology Innovation Conference
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    • pp.59-84
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    • 1999
  • This research examines the characteristics of incubating organizations of hi-tech ventures in the information technology industry. In particular, it attempts to investigate incubating conditions under which entrepreneurs obtain their management abilities and market information, locate business partners and prepare the prototypes of their new products. For the empirical test, three incubator organizations, two universities (Seoul National University and Korea Advanced Institute of Science and Technology ) and a government research institute (ETRI: Electronics and Telecommunications Research Institute) are compared in terms of incubating conditions. It is found that two universities are not different in terms of lab members' demographic characteristics and their attitude towards venture creation. However, the entrepreneurial environments of incubator organizations are different between the universities and ETRI. The universities have more favorable environments than ETRI in terms of management know-how or capabilities, while ETRI has more favorable environments than the universities in terms of the information about markets, distribution channels or customers. The results of this study would provide many policy implementations to administrators of incubator organizations as well as government policy-makers in making effective venture-creation policies.

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Study of Producing Creative Ideas Through Thinking Disposition (Centering on Project Class in High Schools based on IT technology)

  • An, Jae-Min;Park, Dea-Woo
    • Journal of information and communication convergence engineering
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    • v.9 no.6
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    • pp.769-774
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    • 2011
  • IT technology based projects was conducted to implement education on producing creative ideas through on-line education and grasp thinking disposition of students in terms of creativity education efficiency. The differences in idea creation among students according to thinking dispositions were analyzed through qualitative evaluation and quantitative evaluation of project and its result was drawn. The purpose of this study was to help cultivate a man of ability who will make a great contribution to knowledge information society by proposing education model based on new method of teaching and learning.

Creation of System Dynamics in an Uncertain and Complex Market: The Case of Korea's Evolving Biopharmaceutical Industry

  • Lee, Jeong Hyop;Kim, Jaewon;Hyeon, Byung-Hwan
    • Asian Journal of Innovation and Policy
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    • v.8 no.2
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    • pp.180-207
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    • 2019
  • This article explores the historical evolutionary process of the biopharmaceutical industry of Korea, and how intentional and unintentional policy interventions have triggered the creation of the industry's system dynamics and paved the way for the generation of a few global leading products, including biosimilar, as well as next-generation therapeutics of gene and cell. The policies cover the simple technology transfer of API synthesis to overcome the endemic parasitic disease, new substance patent adoption and new drug development consortia, human resource development, various national initiatives influenced by the Human Genome Project, and venture promotion schemes. The scope and implementation tools under these policies have been aligned and refined to transform traditional fine chemical-based pharmaceuticals, to stimulate large companies' participation and to create technology-based venture companies in the biopharma business of Korea.

Entrepreneurial Financing: Program Review and Policy Perspective

  • Ham, Jin Joo
    • STI Policy Review
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    • v.5 no.1
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    • pp.75-97
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    • 2014
  • Entrepreneurial financing, such as publicly initiated venture capital or grant schemes, serves as an important policy instrument that aims to bridge the financing gap facing young, innovative businesses, a gap that is mainly due to higher risk and growing uncertainty, and to strategically promote the creation of new ventures through the revitalization of their venture capital industries. This study examines public venture capital initiatives in Australia, Canada, and Sweden, and discovered that all three countries actively foster their venture capital industry through the formation of funds or the provision of tax incentives. It is notable that the majority of financing initiatives heavily depend on supply-side measures rather than demand-driven policies that focus on stimulating private investment in technological innovations and discoveries. This paper discusses in-depth the policy impact of public financing initiatives and their subsequent side-effects raised in the process such as overlapping in funding structure across the country, lack of monitoring and evaluation for feedback, fragmentation across the government ministries and agencies, and competition with the private sector, which may cause inefficiency as a result of public intervention. Financial constraints may arise for many reasons, partly resulting from the lack of investment readiness of young entrepreneurs. This signals a policy shift towards the creation of market-driven demand away from the traditional supply-push approach, and is a grand challenge to policymakers in entrepreneurial financing. Attention is leaning towards the efficiency and effectiveness of these public-financing initiatives in terms of their policy roles. It is worth noting that policy should focus on generating synergy so available resources can be channeled into the early, risky stage of new ventures, working as facilitator to the achievement of an intended policy goal.

Factors Affecting the Success of IT Service Venture Firms (IT서비스 벤처기업 성공에 영향을 미치는 요인)

  • An, Won Young;Oh, Jay In
    • Journal of Information Technology Services
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    • v.16 no.4
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    • pp.47-64
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    • 2017
  • Three years after establishment, companies are said to face a period of risk called the "valley of death." To start a venture company and make it sustainable, the chance of failure must be minimized. According to an in-depth assessment report on special taxation in 2015, the one-year survival rate of Korean companies was about 60 percent and the five-year survival rate about 30%. These rates are low compared to those of major OECD member countries. Worse, such rates in Korea are decreasing year by year. The purpose of this study is to classify the success factors behind venture companies into human capital, social capital and financial capital, and verify through empirical analysis the factors influencing the success of venture companies based on the mediating roles of capability of the startup team and that for innovation. To find the success factors behind venture companies, this study first examined the theories derived from previous studies. SPSS 21 was used as the study method, while descriptive statistics, exploratory factor analysis and CMB test were conducted. In addition, SmartPLS 2 was used for confirmatory factor analysis, hypothesis test, mediation effect. The results of this study can help efforts toward job creation and economic revitalization pursued by the creative economy policy of the incumbent Korean administration. They can also be used as the cornerstone for venture companies in their pursuit of success.

Revitalizing the Young Venture Entrepreneurship through Grounded Theory (근거이론에 기반한 청년 벤처 창업 활성화 방안 연구)

  • Kim, Na Rang;Hong, Soon Goo;Lee, Hyun Mi
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.9 no.3
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    • pp.33-45
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    • 2014
  • The Government of South Korea is actively promoting entrepreneurship policies to help solve an age old problem of unemployment; however, the unemployment rate of youth entrepreneurship remains at a low. Primarily due to the government fragmented policies that are unable to solve the daily difficulties young entrepreneurs undergo. Therefore, this study aims at deriving a modern solution to an age old problem that exists through the use of co-creation by first interviewing young entrepreneurs to help derive a paradigm model. The model was developed through a grounded theory approach to help strengthen the young venture entrepreneurs. The results revealed that majority of the young entrepreneurship revitalization policies had exclusive participation structure, allowing only a selected few: complex policies of various government departments, short-term funding, one-size-fits-all training and support, lack of follow-up support policies after start-up, excessive administrative requirements, and performance-oriented fragmented support. Concluding that the policies were unrealistic and ineffective for the entrepreneurs. Accordingly, the result suggests that Co-creation entrepreneurship revitalization policy, based on the experiences of entrepreneurs, will need to be established to formulate an effective policy that provides practical assistance to the entrepreneurs in the field.

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Strategy for the Successful Bio-venture in GMO Environment (성공적인 바이오벤처의 경영전략)

  • Park, Han-Oh
    • Proceedings of the Korean Society of Plant Biotechnology Conference
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    • pp.31-36
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    • 2003
  • Bio-venture companies have undertaken harsh environment after 2000 bubble corruption. It is unlike to be changed in the near future. The business model of near-term cash flow, financial stability and survival is a key issue to be discussed. The company shall be rearranged to achieve fast recovery from investment and have to show clear and quantitative business model to the investors. Nevertheless, bio-venture should not drop long-term value creation by sacrificing the possibility of emerging technologies. Prior to clarifing agro-bioventure business model, GMO strategy should have broad supports from stakeholders. The interests and worries of stakeholders are discussed and SWOT is analyzed. For sustainable economy of future, new technology continuously should be invested to fit ROI model of genomics-based GMO developments. Hybrid of products ${\varepsilon}$ technologies may be one of the favorites in this stormy season.

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A Study about the software interface factors for multi content creation (멀티 콘텐츠 저작 소프트웨어 인터페이스 요소 연구)

  • Oh, Jung-Min;Moon, Nammee
    • Proceedings of the Korea Information Processing Society Conference
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    • pp.479-480
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    • 2011
  • 콘텐츠를 직접 제작하는 사용자들이 증가하면서 콘텐츠 저작용 소프트웨어에 대한 사용자 인터페이스 디자인 이슈가 제기되고 있다. 이에 본 논문은 저작 소프트웨어의 핵심적 인터페이스 요소를 도출하기 위해 최근에 개발된 저작 소프트웨어를 대상으로 레이아웃과 인터랙션 요소를 도출하였다. 인터랙션 요소는 사용자와 시스템, 시스템과 콘텐츠, 콘텐츠와 소비자가 상호 영향을 주고받는다. 기존과는 달리 사용자와 소비자가 각기 다르게 인터랙션 하는 부분을 고려할 필요성이 존재한다.

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