Abstract
This study aims to identify success factors by applying the ERIS model to analyze the process of social ventures increasing the sustainable value of companies through upcycling businesses. To this end, a case analysis was conducted by applying an ERIS model that analyzes the performance of start-ups by selecting social ventures that conduct upcycling businesses using materials such as natural leather seats, seat belts, and airbags collected from automobile production processes and end-of-life automobiles. As a result of the analysis, it was confirmed that the entrepreneur's ability to identify market opportunities and establish an initial system in entrepreneurial factors, build a consistent brand image by securing tangible and intangible resources as resource factors, adapt to competitive industrial environment based on competitiveness, and finally, create value by pursuing sustainability in all corporate activities in strategic factors. Conclusions and implications were drawn based on the above results.
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