스타트업 생태계 성장 분석: TIPS 창업팀을 중심으로

This study made an investment database of the TIPS teams(1,634 startups, 2013-2021), which was representative of technology-based startups in Korea, and analyzed 3 issues, namely, ① the growth of startup ecosystem through investment network, ② the derivation of milestones through analysis of startup growth stage, ③ startup growth funnel analysis and ecosystem activation strategy. As a result, it was confirmed that the increase in connectivity within the startup ecosystem through investment contributed to the growth of the ecosystem. Second, the TIPS teams confirmed that it took an average of 2 years to attract seed investment since its inception, then an average of 1 year to attract Series A investment and an average of 2.3 years to attract Series B investment. Growth milestones for startups were presented. It was confirmed that growth milestones differ by industry. Third, 38.8% of the TIPS teams attracted Series A investment, while 18.5% failed. After that, it is necessary to identify the cause of the rapid narrowing of the growth funnel, that is, to find out why it is difficult to move on to the next investment stage. This study is meaningful in that it empirically analyzes the growth of the startup ecosystem. Expansion of investment connectivity contributes to the growth of the ecosystem by accumulating social capital and rapidly distributing innovation information within the startup ecosystem. And, it is possible to set a milestone for the average growth period for each investment stage within the industry by presenting the growth milestones of startups. In addition, it emphasizes the need for identification of causes and support for receiving next-stage investment through growth funnel analysis. This study has limitations in that the investment DB is not perfect and that the analysis is conducted targeting the TIPS teams.