벤처기업 지원정책의 유효성에 관한 연구

Abstract

Promotion of venture businesses has become a basic strategy to improve the competitive power of a nation in an intention to industrialize high level technologies or new ideas. Under a knowledge-based economy that considers knowledge and technology important, promotion of a venture business retains an important economic meaning to develop a country such as the improvement of technologies of a business, the industrial structure, and the creation of new recruitment. The venture businesses in Korea have actively grown in the number and size with the recent various governmental supports. In accordance with the Act on Special Measure for Promotion of Venture Business in 1997, the government promotes direct supports on manpower, technology, investment, startup business support, financing, and taxes and, since the foreign exchange crisis, promotion of venture businesses and activation of the KOSDAQ market have been substantially influenced by such governmental promotion system. However, it is true that the ineffectiveness of governmental promotions have been exposed because they didn't cope with the reality of venture businesses even though many promotional supports were provided. Offering financial supports each governmental department hasn't been effective, and practical effects of a promotion have been reduced due to issues with the operation of a fund promotion system, complexity of the application system, and lack of user understanding. In order to enhance the effectiveness of the venture business promotion system and increase practical effects and satisfaction of venture businesses, this study considers the relationship between characteristics of a venture business, which influences the effects of the venture business promotion system, and resulting factors. Also as a measure to evaluate operational outcomes of a venture business, the Balanced Scorecard (BSC) technique of Kaplan and Norton (1992), which broadly considers customers, inside processes, and the view of learning and growth, was used besides results in terms of the existing financial viewpoint. For an empirical analysis, 179 questionnaires were used, which were collected from the venture businesses in the Gwangju and Jeonranamdo region, and basic statistics, Frequency Analysis, Factor Analysis, Reliability Analysis, Regression Analysis, and Covariance Structure Analysis were used. As results of the empirical analysis, the most frequent age range of CEOs was the forties and the business type was manufacturing. A business with less than five employees took the majority, which shows size of the venture businesses are small. Also, all the venture businesses who participated in this survey received or are receiving a support from the government and showed a low satisfaction level on the venture business promotion system, which shows an urgent necessity of lifting the effectiveness of the system. As results of Regression Analysis with characteristics of a venture business, the result of the venture business promotion system, and satisfaction, in terms of finance and learning and growth, the result of the venture business promotion system showed a negative (-) effect on the technological development interest of a venture business. Also, from a view of customers, the interest in the technological development of a venture business showed a positive (+) effect. However, in a view of inside processes, result of the system didn't show a meaningful effect on the technological development interest of a venture business. In the other hand, in the relationship of the result of the venture business promotion system and satisfaction, the results of the financial view, the customer view, and the inside processes view showed a meaningful effect to satisfaction of the venture business promotion system; however, the results of the learning and growth view didn't show a meaningful effect on satisfaction of the venture business promotion system. In the relationship of business' characteristics and interest on technology development, the capability of the CEO didn't show a meaningful effect on the interest of technological development but the CEO's vision or business philosophy and strategies each showed a significant meaningful effect. The level of technological innovation showed a negative (-) effect. In relationship of satisfaction of the venture business promotion system and the level of technological innovation, the level of the technological innovation of a venture business showed a meaningful effect on satisfaction of the venture business promotion system, but the interest in the technological development of a venture business didn't show a statistically meaningful effect on satisfaction of the system. Suggestions learned from the analyses of this study are as follows: First, to improve operational results of a venture business and increase the effectiveness of the venture business promotion funds from the government, the results of the financial view, the customer view, and the inside processes view should be more emphasized rather than the results of learning and growth view when funds are provided. Second, it is shown that an intensive support to a venture business that focuses on investment of research and development or whose technological level is high, when selecting a venture business, will maximize satisfaction and effectiveness of the venture business promotion system. Third, for the selection process of eligible venture businesses, accurate and fair qualifications such as the technological level of researchers, intellectual property, innovative difference of a product, and the investment scale on R&D are needed and the government's effort and concern on the promotion policy of venture businesses are also necessary. The government has shown their interest on the effectiveness of the venture business promotion system; however, the reason that a proper support wasn't provided was because there haven't been enough analyses on the relation between the Korean venture businesses and the venture business promotion system. Therefore, by organizing a dedicated support team per business type and acquiring the business evaluation capability, the government should find and raise highly possible-to-success venture businesses and build an infrastructure and develop an environment, in which venture businesses grow autonomously. As countermeasures to increase the effectiveness of the venture business promotion system, this study considered characteristics of a venture business such as policies, strategies, and the level of technological development and satisfaction of the system. However, as this study was limited to the venture businesses in the Gwangju and Jeonranamdo region and at the point that the venture business promotion system depends on the life cycle of a venture business, it is hard to randomly apply the results of the study to other venture businesses nationwide as their characteristics may differ. Accordingly, wider range of samples reflecting various venture business characteristics are needed and an in-depth study considering more factors in relation with the effectiveness of the venture business promotion system may be needed.