In order to crystallize new driving force, Korea has carried out several programs to assist establishing and enhancing growth of venture business since enacting ‘Act on Special Measure for the Promotion of Venture Business’ in 1997. Regarding this is-sue, budget amounting to 1.605 trillion won was injected into fund of fund financ-ing project, establishment of business incubator, loan project for start-up business etc. Accordingly, the number of venture business increased from 2,042 in 1998 to 18,893 in 2009, in terms of quantity.
However, despite of increasing number, great venture business with high-tech-nology, entrepreneurship is still insufficient. It has been also pointed out that inflow of policy fund cannot efficiently go to the venture business which needs government support. Therefore, in this report, fully utilizing various materials such as in-depth research on the current condition of venture business by The Small & Medium Busi-ness Administration, outcome of project to support venture or start-up business that launched before 2005, was evaluated in terms of operating policy fund, enhanc-ing its capability.
According to evaluation result, investment on venture business from market was not much active, in spite of effort to boost investment and because of shortage in starting venture business related to scientific performance. Besides, policy fund not being operated efficiently, there is some overlap between loan for start up busi-ness and target for support among sub-projects. Therefore, government should make concerted effort to assist as well as find out great venture business equipped with the quality to be driving force in our economy. Regarding the venture business that needs government support, it is required to operate policy fund more efficient-ly.
However, despite of increasing number, great venture business with high-tech-nology, entrepreneurship is still insufficient. It has been also pointed out that inflow of policy fund cannot efficiently go to the venture business which needs government support. Therefore, in this report, fully utilizing various materials such as in-depth research on the current condition of venture business by The Small & Medium Busi-ness Administration, outcome of project to support venture or start-up business that launched before 2005, was evaluated in terms of operating policy fund, enhanc-ing its capability.
According to evaluation result, investment on venture business from market was not much active, in spite of effort to boost investment and because of shortage in starting venture business related to scientific performance. Besides, policy fund not being operated efficiently, there is some overlap between loan for start up busi-ness and target for support among sub-projects. Therefore, government should make concerted effort to assist as well as find out great venture business equipped with the quality to be driving force in our economy. Regarding the venture business that needs government support, it is required to operate policy fund more efficient-ly.