ⓒ Bong Jin Cho Page 1 page 1 Bong Jin Cho, Ph.D. Editor in Chief, APJIE Professor of Marketing,...

ⓒ Bong Jin ChoPage 1Page 1

page 1

Bong Jin Cho, Ph.D.Bong Jin Cho, Ph.D.Editor in Chief, APJIEEditor in Chief, APJIE

Professor of Marketing, Professor of Marketing, Keimyung UniversityKeimyung University

July 2, 2010 July 2, 2010 ASTANAASTANA


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1. History of Business Incubation in Korea

2. Korean Government Policies on SME

3. IKED (Institute of Korea Entrepreneurship Development)

4. The Role Dynamics of the IKED, Supporting Institutions, and Incubation Centers in Korea

5. Outcomes of Business Incubation in Korea

6. Is it Transferable in Kazakhstan?

Contents


page 3

HHistory of Business Incubation in Korea

1991. : Korean incubation activities initiated by KeTECH.

1993. Mar. : First private incubation – Young Dong Business Incubator by Jun

gbu Industrial Consulting Inc.

1993. Dec. : First public incubator – Ansan Business Incubator by SBC

IMF monetary crisis in 1997. : Business incubation activities were promoted b

y the government to create jobs and recover economy.

The 330 Business incubators established by 2005.

2005. Dec. : Incubation activities were combined by SMBA to enhance the qu

ality and efficiency of the incubator management.


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HHistory of Business Incubation in Korea

The 279 Business Incubator established in 2009.

Recently : Incubation business is slow and Entrepreneurship is down

- High failure rate and Slow return of venture investment

- Social psychological atmosphere of not allowing the failure in venture

business

2010. : Encouraged the Second booming of technology based start-ups

for the promotion of SMB by the Presidential Council on National

Competitiveness (PCNC)

226

University

7

SMBC

22

R’ch Inst.

11

Local Gov’t

13

Others

279

Total


page 5

KKorean Government Policies on SMB

Systematic package support according to the stage of the start-up

business development

- Education for commercialization of their idea

- Financing and Grants

- Support for factory establishment

- Information support

- Consulting

- Display and public relations etc.

SMBA established the IKED to efficiently promote and execute

entrepreneurship development


page 6

IInstitute of Korea Entrepreneurship Development (IKED)

EmploymentFuture EconomicGrowth Power

High TechStartups

Pre-BI / BI / Post BIHigh Tech Startups


Universities &Research Institute

Incubators

High TechProfessors

& Researchers

Superior H/ WInfrastructure

“K ey Role for Local & National Economy”

High TechInfrastructure

Needs EmploymentFuture EconomicGrowth Power

High TechStartups


Pre-BI / BI / Post BIHigh Tech StartupsPre-BI / BI / Post BIHigh Tech Startups


Universities &Research Institute

Incubators

High TechProfessors

& Researchers

Superior H/ WInfrastructure

“K ey Role for Local & National Economy”“K ey Role for Local & National Economy”

High TechInfrastructure

Needs

Purpose of IKEDPurpose of IKED

<Source: IKED Reports, 2008>


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TThe Role Dynamics of the IKED, Supporting Institutions, and Incubation Centers in Korea

National Economic Development through Regional and national Innovation systems

Small and Medium Business Administration (SMBA)

Korea Credit Guarantee Fund

KIBO TechnologyFund

Angel andVenture Capital

Banks

BI-Net ChangupNet

Infrastructure BuildingPrograms for High-tech

Based Startups

Special Programsfor Lab

Based Startups

Idea DevelopmentPrograms

Tomorrow’s Tech.Based Entrepreneur

DevelopmentPrograms

Ministry of KnowledgeEconomy (MKE)

Ministry of KnowledgeEconomy (MKE) Local GovernmentsLocal Governments

Institute of Korea EntrepreneurshipDevelopment (IKED)

Korea Venture Business

Association

Incubation Centers

Cobian

Universities & Research Institutes

Management & Consulting Services Legal Services

Korea TechnoparkAssociation





KIBO TechnologyFund


Banks

BI-Net ChangupNet


Based Startups


Based Startups



DevelopmentPrograms





Association

Incubation Centers

Cobian





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Major Programs Promoted by IKEDMajor Programs Promoted by IKED

1) Infrastructure Building Programs for High-tech Based Start-Ups

The Programs Strengthening Entrepreneurship

Entrepreneurship Education Program for College Students - 50 university entrepreneurship courses open; to strengthen start up capabilities

- Support college and high school students who hold technologies and ideas for

commercialization

- Student’s Workshops to motivate and encourage the college student’s start-ups

- Asian Students Exchange Programs and the Special Foreign Training for

Global Leadership


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Entrepreneurship Education Programs for the Public - The comprehensive package education program : Graduates can get the support

of education, financing, office space, management and technology service

- The on-line start-up education program

- The Tech-based education program for the military retirees and persons released

from prisons

- The children’s start-up education program

BIZ School for Youth - Education for nurturing entrepreneurs of the future

- 85 high schools, 5 middle schools, 1 primary school

- Start-up Campus and Workshops open during the summer vacation


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The Entrepreneurship Festival, Korea - Providing Technology & Business information for Start-up and Newly Born

company

- Promotion for Start-up entrepreneurs

- Buyers will be able to view various products and innovation of entrepreneurs

under one roof

- Overseas Marketing Information Seminars

- June 24th ~26th, 2010

The Business Model Contest - For Public & College Students


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BI Success Rate Enhancing Project

Special Support for Commercialization

- COBIAN website(www.cobianb2b.com): Advertising and Selling items produced

by the BI clients and graduates

- The package support of One Center-One Company-One Manager : Offering

expert management consulting service

High-tech Specific Venture Company - Venture Company established by non-profit org.

- Investment of funds, facility and equipment for Start-up based on the high technology


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Program for Strengthening Incubation Authority’s Capabilities

- Incubation authority : BI center directors, managers, and staff members

- Workshop for the BI center directors and managers

- Manager’s License Authentication System

- A 20-hour management education program for the CEOs and directors of the

BI clients

Domestic and Foreign Network Development and its Operation - Incubators association system : www.bi.go.kr

- AABI, NBIA, GBIN, etc.


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Start-up Research/Research and Analysis

Identify the key success factors of start-ups

Develop a model of strengthened capability and policy improvement

2) Special Programs for Lab-Based Start-ups

Identify Supports with some portion of the expenses of the development stages of a company established under the plan.


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3) Idea Development Programs

4) Tomorrow’s Tech-Based Entrepreneur Development Programs

Supports with one stop service, from commercialization to marketing,

for the tomorrow’s entrepreneurs and the new start-up businessman

within three years of establishment

This program is designed by the universities and research centers as the

major institution to support the entrepreneurs


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TThe Role Dynamics of the IKED, Supporting Institutions, and Incubation Centers in Korea




KIBO TechnologyFund


Banks

BI-Net ChangupNet


Based Startups


Based Startups



DevelopmentPrograms





Association

Incubation Centers

Cobian








KIBO TechnologyFund


Banks

BI-Net ChangupNet


Based Startups


Based Startups



DevelopmentPrograms





Association

Incubation Centers

Cobian





page 16

OOutcomes of Business Incubation in Korea

Total SalesTotal Sales

GraduatesGraduates

Tenants Tenants

IncubatorsIncubators 269

4,441

5,780

$20billion

2007

269

4,532

6,337

$23billion

2008

279

4,770

7,572

$25billion

2009

EmployeesEmployees 22,569 22,982 22,017

<Source: www.bi.go.kr>


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I Is it Transferable in Kazakhstan?

1. Education and training for the government Officers

2. Education and training for the BI Mangers

3. Build infrastructure for Business Incubation centers

4. Promote entrepreneurship among people - students

5. Facilitate banks and venture capitals

6. Develop programs for Business Incubation

7. Some adjustment is needed …………base and change agent!

WHY NOT IN KAZAKHSTAN!!WHY NOT IN KAZAKHSTAN!!


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ⓒ Bong Jin Cho Page 1 page 1 Bong Jin Cho, Ph.D. Editor in Chief, APJIE Professor of Marketing,...

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