The evolutionary process of venture incubation in Korea

Abstract

The emergence of the internet-based economic paradigm has come to play a crucial role in the restructuring of the Korean economic system. One of the main devices of economic restructuring, the Korean government attempts to nurture technology-intensive small and medium firms. As a result, the importance of incubating technology-centred venture firms emerged as a major issue in public in Korea's public and private sector. This paper investigates the mechanisms and characteristics of incubating start-ups in Korea during its evolutionary process from the end of the 1990s to the present day.