This study tested the hypothesis that the characteristics of entrepreneurs and structure of venture start-ups can help explain the founding of venture businesses. So the main purpose of this study was to examine this using different models. The models ...
This study tested the hypothesis that the characteristics of entrepreneurs and structure of venture start-ups can help explain the founding of venture businesses. So the main purpose of this study was to examine this using different models. The models in this study included both a linear model and a non-linear model. A linear model is a chain of successive activities which begins with basic scientific research and passes through applied and more developmental research activities, the development of a new product, making proto-types, to commercial production. A non-linear model means that new ideas are generated and developed at all stages of innovation, usually in the production stage. To identify the differences of two kinds of venture businesses based on the two models, especially start-ups' characteristics and structure, questionnaire surveys were conducted with 121 tenants and graduates of 7 technology business incubators in Taejon during the spring season of 2000. It was expected that results of the study could provide the basic knowledge and strategies for more efficient development and management for hatching more venture start-ups. As a result of the survey, among 12 socioeconomic characteristics of venture start-ups, 8 items were statistically significant between models. They included formal education, professional specialty, age, previous occupation, prior organization, the amount of past experience, partnerships, and founding motivation.
However, no statistical significance was found regarding sex, family background, parents'occupation, and experience at founding a company. Based on a comprehensive business structure, 3 types of structure were identified as major factors affecting venture start-ups: the venture business itself, technology business incubator, and networking. For the comparison of two models, marketing and other characteristics were discussed. Finally, this study recommended setting up a technology commercialization center to create more start-ups and accelerate technology transfer from universities and research institutes to high technology based venture businesses.