Keywords: entrepreneurship, incubators, manpower policy, business ventures, Korea, technology transfer, business strategy, financial services, government policy, science and technology manpower
Incubators and business ventures in Korea: implications for manpower policy
This paper explores the characteristics of Korean venture businesses and entrepreneurs from the manpower perspective and analyse the differences between linear and non-linear technology transfer to guide more effective venture business policy and strategy. The empirical assessment reveals that Korean entrepreneurs think financial services are most needed. Despite the tendency that entrepreneurs might expect much, the difference was large enough to conclude that government policy on incubation is not effective. Future functions/services of incubators should concentrate on additional and financial functions/services. The current policy of 'as many services as possible to all venture businesses' should be changed to 'pinpoint services to each venture business.' Governments should devise policy to support services that venture businesses want rather than provide what government thinks is necessary for venture businesses. Also manpower policy that helps improving services/functions of incubators as well as staff members is in urgent need.