• Title, Summary, Keyword: venture creation

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Innovative Advanced Technology through University-Industry Collaboration: Role of Venture Capitals, Entrepreneurs and Process Management in Japan

  • Nakajima, Yoji;Miyashita, Shuto;Sengoku, Shintaro
    • Asian Journal of Innovation and Policy
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    • v.7 no.3
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    • pp.564-580
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    • 2018
  • The creation of academic start-up firms is an important and practical issue in the management of technology in Japan. The present study designs a model for creating academic start-up firms that fits into the social context. It focuses on the case of FIRST Program, an initiative that consists of 30 projects in innovative arenas, analyses the presence of large-scale public funding, and investigates the role of venture capitalists as support personnel in each project. As a result, the presence and significance of 'long-term escort' by an 'entrepreneurial venture capitalist (EP-VCist)' were confirmed as common features across the cases observed. EP-VCist refers to a person who can maintain and fulfil dual roles at a university and a venture capital firm, and who can take the lead throughout the venturing process as a risk taker. 'Long-term escort' is a form of support that reduces risks in the venturing process by supporting university researchers in the pre-entrepreneurial stage and by exerting a robust bridging role between a university and an industry.

A Study on Supporting System Problems of Creation Enterprise of Students (대학생 창업활동과 지원체계의 문제점 및 개선방안에 관한 연구)

  • Yoon Jung-Eob;Heo Kap-Soo
    • Management & Information Systems Review
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    • v.11
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    • pp.23-43
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    • 2002
  • It is concentrated their efforts on expanding establishment mind like creating regular subject about establishment business of students and establishment business supporting center in University. Students creation enterprise club for establishment business with this hot wind of change and it seems to be success with hot wind of venture creation and gather many students for it. But practical result of research says that there are many problems like absence of education program, insufficient of professional leader, missing exact purpose so members decreased and activity itself piled up. Also creation business supporting system for student didn't conveyed to students evenly and effectively as much as original purpose and feeling effect is short of expectation. Therefore it will be required to reorganize supporting system and operate existed club to raise their ability of basic quality and gift that needs to do company activity and create basic mind about principal of free enterprise through activity of establishment enterprise by students. And we have to interest in their activity for creation enterprise with exact consciousness of purpose and prepare systematic, material, human supporting system that needs to establish enterprise with our knowledge and ability.

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The Effect of Equity Crowdfunding on Job Creation (주식형 크라우드 펀딩이 고용창출에 미치는 효과)

  • Chun, Hesuk
    • The Journal of the Korea Contents Association
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    • v.15 no.12
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    • pp.541-549
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    • 2015
  • Research about U.S. and European countries demonstrated that startups and young firms account for nearly all net job creation. If we want to bring down unemployment and to increase economic growth rate, we need to create new companies and to make them to grow. Credit availability is one of the most important factors for entrepreneurs as they attempt to start or expand a business. For young firms, access to credit for business growth can mean the difference between survival and failure. Equity crowdfunding is an innovative means of raising capital for businesses. Crowdfunding campaigns can give new business access to a large pool of investors. This brings huge benefits for marketing and increase provability of success of business and ROI, so it leads follow-on investment from Venture Capital and Angel investors. In Korea, the survival rate of startups and average growth rate of survivors is far lower than those of the U.S or other countries due to lack of funds for startup or early business growth. Equity crowdfunding can be a new funding source for venture or startups. It can increase startup and survival rate, in addition to the growth rate of survivors, resulting in decreased unemployment rate. In Korea, Equity crowdfunding will be available from 2016. Further study is needed to determine whether the impact of crowdfunding in Korea on job creation will be similar to its impact in the U.S.

창업보육센터 운영실태 분석과 육성방안;인천지역 창업보육센터를 중심으로

  • Park, Gyeong-Ju
    • 한국벤처창업학회:학술대회논문집
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    • pp.205-240
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    • 2006
  • In today's world economy, technology and knowledge have become the key words for value creation. Since 1998, various research institutions and universities in Korea, with support from Small and Medium Business Administration, have buckled to establish and operate incubating centers in order to foster such industries. Even though these centers have been operated in accordance with the purpose of the establishment, it has been over six years now, and it is necessary to evaluate its overall performance before moving on. Incubating a venture company results in not only technology innovation, but also jobs creation and economic growth. Knowing the importance of that, a government, at all levels, has supported the incubating centers as the most effective way to support venture companies in Korea. Incheon now plays a great role as a hub of logistics and trade in North East Asia. In order to nurture the city as the center of Korean economy, the city of Incheon has financially supported various incubating centers in the city, in an effort to incubate potential venture companies with lack of business experiences. It is imperative to find out what these companies need and how they evaluate the system at this point to develop a guiding principle of its operation as well as a careful selection process of a company in the future. In section II of this research, a concept of an incubating center is defined. An objective, a policy of its operation as well as its structure are explained in this chapter with case studies of Incheon College. 'Resources' are divided into human resources and material resources. And the survey that 71 different companies (out of 164 companies in 10 different incubating centers) have participated in is included in this section as well.

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The Analysis of Failure Causes on Technology Venture: A Start-up case of the Government Research Institute(GRI) (기술벤처의 실패요인 분석: 연구소 창업기업 사례를 중심으로)

  • Kwon, Ki Hwan;Choi, Jong In
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.10 no.4
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    • pp.27-37
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    • 2015
  • Start up a company is critical to the regional economy and job creation and so get support from government and other organizations, but there are still exist of high rate of failure and CEO's stressful fear of failure. New firms are of utmost importance for the vitality of national economic driving forces but for those failed firms, they caused social and economic problems directly and indirectly, and brought frustration to the founders. The many education and research programs about entrepreneurship and venture creation were undertaken by the country and organizations, but the education and research about the vigilance of failed to start up company were almost ignored. If the attention can be put into the research about failed companies and the research can make the founders and pre-CEOs aware the failure of establishing a company, that would be very valuable as scenarios to see the company risks. This case study shows the finding the reasons which caused the failure of small venture companies and it's implications in the filed of establishing companies. The technology based venture company which had run 10 years in Daedeok's IT field was selected as the research object. The results show that the important factors such as entrepreneur characteristics(lack of communication and management knowledge), business management(lack of business expertise) and technology(loss of unique feature of product and lack of product extension) were the root cause of failures.

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Analysis of Entrepreneurial Orientation and Market Share using PLS Structural Equations Modelling -Mediating Effect of R & D Capability & BSC Future Value Creation- (PLS 구조방정식 모형을 활용한 기업가적 지향성과 시장점유율간의 실증 분석 - R&D 역량, BSC 미래가치 창출의 매개효과 -)

  • Ko, Il-Kwon;Nam, Jung-Min
    • The Journal of the Korea Contents Association
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    • v.20 no.4
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    • pp.348-357
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    • 2020
  • Discussions on entrepreneurship are increasing, but the methodology that can be applied to actual small to mid-sized businesses and venture firms is insufficient, and research on measuring achievement and application is lacking. In this regard, this paper analyzed actual proof on the relationship among entrepreneurial orientation, R&D capabilities, market share, and the creation of BSC future values that can be empirically applied to small to mid-sized businesses and venture firms. A factor analysis and hypothesis verification have been conducted with the SEM model utilizing SmartPLS 3.0 on the recent 7th year (2017) data from the Human Capital Corporate Panel (HCCP) of the Korea Research Institute for Vocational Education and Training. The actual proof analysis revealed that entrepreneurial orientation creates a positive influence on R&D capabilities and the creation of BSC, and also on market share, with R&D capabilities as a parameter. On the other hand, the relationship between entrepreneurial orientation and market share proved to be not statistically meaningful. Future value creation of BSC also could not mediate the relation between entrepreneurial orientation and market share. Therefore, this research has proven that a company must cultivate its personnel's R&D capabilities with their entrepreneurial orientation. Furthermore, it is a significant fact that BSC, the conventional measuring tool for performance management, could not mediate the relationship between entrepreneurial orientation and market share. Future companies aiming at innovation should consider developing a new index that could measure the corporate-level entrepreneurship and conduct performance management.

Analysis and Proposal of Startup Policy: Focusing on step-by-step Implications such as Startup, Growth, and Recovery (스타트업관련 정책의 현황분석과 정책제안: 창업, 성장, 회수 등 단계별 시사점을 중심으로)

  • Joe, Byoung-Moon;Shin, Hyun-Han
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.2
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    • pp.97-110
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    • 2020
  • This paper is on the policy proposal for venture ecosystem. First, one of the three secrets of the US venture ecosystem is the law of 50:50. Angel capital investment is as important as venture capital investment. Although professional angel investors and accelerators account for as much as VC in the venture ecosystem, they are ignored from policy considerations. We argue that the revision of related law is urgent. Second, large US firms invest more in M&As than in internal R&D. Therefore, accelerators and professional angel investors could make effective investment recovery after investing in a startup company. In other words, angel capital does not come in without secondary market development. Angel capital and secondary markets are the two pillars of the venture ecosystem. The government alone is difficult to develop a secondary market. This is why the private sector should come in and introduce corporate venture capital (CVC). Third, we believe the policy direction for national economic growth should be extended from the startup to scale-up. This is because the startup's sales and job creation will start in five years. While the previous study focused on funding (venture financing), this paper aims to balance all three stages of a venture: startup, growth, and recovery, which are the life cycle of a venture company or venture investment. In particular, we propose specific policies in each chapter to improve practical application.

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Formal Business Plans as Myth and Ceremony: Education and Practical Implications

  • Mahdjoubi, Darius;Gibson, David V.
    • World Technopolis Review
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    • v.4 no.4
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    • pp.222-237
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    • 2015
  • Business plan competitions and related education are common activities to regions that are, or desire to be, important innovative and start-up regions. The literature is contradictory regarding the value of formal business plans (FBPs) toward venture planning, capital acquisition, and education. This study analyzes the relevant literature and sample of 35 FBPs to assess these contradictions. We propose the theoretical constructs of "myth and ceremony" to explain the loose coupling of FBPs to real business environments, an observation consistent with theory that suggests organizations perpetuate the myths of their institutional environment to maintain their legitimacy. We offer Action Business Planning as an alternative to more accurately address the realities of venture creation and survival, and for education.

Platform Business and Value Creation: Using Public Open Data (플랫폼 비즈니스와 가치 창출: 개방형 공공데이터 활용)

  • Han, Junghee
    • Knowledge Management Research
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    • v.20 no.1
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    • pp.155-174
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    • 2019
  • Variety of data have been opened or connected by several levels of government. In smart city initiatives, open data become the source of a new business model. This paper is to foster ways of public open data (POD) by analyzing the start-up company that utilizes POD. In order to fulfill it, this paper adapts the case study research. Findings say that POD has potential to validate and further enrich the platform business. But to find which types of public open data are most prevalent is insufficient. To do this, it is more needed that sophisticated and many cases should be examined. However, this paper shows that platform business by using POD could lead to reduce the cost and increase the benefits for both providers and customers. From the findings, this paper shows that public open data has an important role not only to boost new venture creations which are prevalent ways of smart city but also to foster different platforms enabling new value capture and creation according to development of internet of things based on ICT technology.

Ideation Method in Venture Creation (창업에서 아이디어 도출에 관한 연구)

  • Choi, Jong-In;Kim, Ki-Young
    • Proceedings of the KAIS Fall Conference
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    • pp.415-418
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    • 2012
  • 기술기반의 창업에 대한 중요성이 커지고 있는데 반해 그 방법론은 매우 취약한 상태이다. 본 연구는 창업과정에서 독특한 기술을 기반으로 어떻게 새로운 제품 및 서비스 아이디어를 만들 것인가에 대한 방법론을 다루고 있다. 본 연구에서는 이를 초기단계의 시장조사, 기술 스캐닝, 트랜드 분석, 웹기반의 정보, 명료화 등 5가지로 정리할 것이다.

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