벤처기업의 성과에 영향을 미치는 선행변수에 관한 연구: 국가연구개발사업을 중심으로

Purpose: This study reviewed existing research on venture companies, innovation, and government development projects, and based on this, confirmed the impact of venture companies’ innovation capabilities (i.e., government support, research personnel, patents and utility models) on sales. Research design, data, and methodology: In this study, raw data from the "2019 Venture Business Accuracy Survey" provided by the Ministry of SMEs and Venture Business and the Venture Business Association (2019) were used, and factors affecting innovation, including government research and development support, were derived based on prior research. Results: F irst, the s ize of the government’s R&D funding in the previous year was found to have a positive impact on the sales of venture companies in the f ollowing year. Second, t he s ales o f venture companies a lso increased as t he number of research personnel involved in research and development increased. Third, it has been shown that while only registration patents with rights have a positive effect on the sales of venture companies, the application for a patent, utility model registration, and utility model application were not. Fourth, it was found that the business performance of companies was different for each stage of company growth. More specifically, it was f ound that investment in R&D has a negative impact on management performance during the growth period, but positively af fects the maturity period. Implications: From a practical perspective, this study suggests that innovation f rom the perspective of venture f irms can lead to substantial growth, not just technological achievements. The results of the study suggest that venture firms can improve their business performance through aggressive investment in R&D, and in particular, investment in R&D personnel and patents is essential.