Determinants for the success of regional ICT ventures: a close examination of South Korea

Abstract

Background: This study identifies the key motivational factors in enhancing economic performance and increasing new job opportunities for information and communication technology ventures (ICTVs) in South Korea and examines their potential causal relationships through structural equation modeling analysis on data collected from over 200 ICTVs located in Daedeok Innopolis. Results: The results indicate that the economic performance of ICTVs is determined mainly by government support, innovation effort, and private equity and support. Government support and innovation effort are also positively associated with new job opportunities. Conclusions: The theoretical, industrial implications of the key findings, and recommendations for the Korean government are discussed