Abstract
The purpose of this study is to analyze the feedback structure of the growth of the Start-up ecosystem at the local level. The Start-up ecosystem at the local level develops through the cycle of start-up phase, growth phase, exit phase, reinvestment and re-startup phase, and grows through the mutual causal relationship of various factors at each stage. In addition, it can be seen that the Start-up ecosystem is greatly influenced by the mutual causal relationship between the factors of Subject, Environment, Resource, and Mechanism based on the ser-M model. Compared to the metropolitan-based Start-up ecosystem, the local Start-up ecosystem is characterized by the importance of the role of local investment funds. In terms of systems thinking of the local Start-up ecosystem, this study explored the feedback structure for the growth of the local Start-up ecosystem and suggested policy alternatives for the local Start-up ecosystem to grow more continuously.
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