Abstract
Governments are increasingly turning their eyes towards start-ups for bringing innovation and creating jobs. Many start-ups fail to survive due to their limitations in knowledge, resources and Korean market environment, such as government regulations, limited market size as well as limited investment funds availability. Many start-ups are aiming to go global from the start by developing technologies and products specifically catering to the needs of the global market. In this study, we analyzed the academic and political implications of the factors that have bearings on these born-global startups. Based on previous research, we first established a research model and hypothesis to examine if company characteristics, market structure and start-up ecosystem have any effect on the motivation and performance of start-ups, and further verified it with our data-based analysis and survey results. The research shows that global-mindedness, market size/regulation, and government support impact the motivation for, and the success of global expansion. This highlights the need for deregulation, more government support and a stronger private startup ecosystem.
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