In Search of Talent: Startup Policy in South Korea

Abstract

Countries have long considered immigrant entrepreneurship and high-skilled immigration as crucial sources of economic growth and innovation. Still, little is known about what governments do to attract, support, and retain tech entrepreneurs with foreign backgrounds. This article examines startup programs in South Korea. It demonstrates how the demand for tech entrepreneurship is approached through a new set of policies, conceptualized in this study as (im)migrant startup programs. Through these policies, the South Korean government simultaneously supports immigrant residents with opportunities for entrepreneurship while facilitating the additional immigration of high-skilled entrepreneurs. (Im)migrant startup programs are characterized by intersecting elements of innovation, entrepreneurship, and immigration policies. This combination distinguishes the approach from previously observed skills-based visas, investment programs, and economic integration strategies. The findings are discussed with implications for the global competition for talent and the mobility of high-skilled entrepreneurs.