Structural Relationship Analysis of Influential Factors on the Success of University Students’ Start-up: Application of System Dynamics Method

(Purpose) This study investigated the causal relationship of the variables of university start-up support policy, which has been relatively little researched in the field of university start-ups, and performed macroscopic policy simulation required for establishment of start-up support policy. In this study, a simulation method utilizing system dynamics was used. (Design/methodology/approach) This study created a causal map based on the methodology used in system dynamics, and derived a reinforcement loop and a balanced loop based on this, and explored the causal relationship among variables that can induce the success of college student’s startup. (Findings) In the case of the university's start-up support system loop, if the university's start-up support system is strengthened, university students' interest in startup increases. If college students have high interest in start-ups, college students will be more prepared to start business, and if college students are more prepared for start-ups, college students' knowledge capacity for startup will increase. Such startup knowledge competency strengthens startup efficacy, and the startup efficacy of university students raises university students' interest in startup again, and startup interest increases startup readiness, thereby lowering the rate of startup failure (-). (Research implications or Originality) Policies and support systems to induce the success of college students' startups and activate startups are presented as follows. ①Enhancement of the startup of university students, ②Effectiveness of creating a startup ecosystem, ③Improvement of startup education, ④Improvement of university-level startup support system, ⑤Actively reflect the achievements of startups in the assessment of university.