The Effects of Government Policy, Strategic Alliance, and Venture Capital on the Growth of Technology-based Ventures

This study investigates the role of the leading resource providers in the recent development of startup companies in Korea. I first explain who the leading resource providers are in Korean entrepreneurship. Then, I examine the mediating role of leading resource providers for technology based ventures and their high risk-high return performance. I test our hypotheses using the database of 223 business ventures gone public in the Korean stock market for emerging companies. Our findings generally support the Inno-biz enterprise certification, strategic alliances with business groups and venture capital investments play the positive role of leading resource providers, providing a signal for further resources and a stepping stone for better performance in time to IPO, while venture company certification shows no effect.