Birth and Survival of Regional Ventures: Comparison of Regional and Industrial Characteristics

Yoon-Jun Lee
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Yoon-Jun Lee: Science & Technology Policy Institute, Sejong National Research Complex, Sicheong-daero, Sejong-si, South Korea

Noble International Journal of Business and Management Research, 2017, vol. 1, issue 5, 94-106

Abstract: In 1997, the Korean government enacted the Venture Special Act to designate ventures and to provide various supports in finance, tax, human resources and R&D. As a result, the number of ventures reached 31,260 as of the end of 2015. Although ventures are still concentrated in the Seoul, the capital city metropolitan area, the growth of regional ventures is significant, and thus it is forecasted that their share in regional economies will increase. Therefore, the purpose of this research is to identify the differences of the birth and survival of ventures in each region and industry, and to identify the characteristics that affect those differences. According to the analytical results, Korean government should make policies to encourage each megacity, province and metropolitan economic block to have variety of industries, rather than having them specialize in a particular sector.

Keywords: Ventures; Birth; Survival; Regional Economy (search for similar items in EconPapers)
Date: 2017
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