配套补助对科技初创企业的影响——以韩国TIPS为例（英）

seoulcenterforfinanceandinnovation TheEffectsofMatchingGrantsonTechnologyStartups: TheCaseofKorea’sTIPS PublicDisclosureAuthorized PublicDisclosureAuthorized PublicDisclosureAuthorized PublicDisclosureAuthorized ©2024InternationalBankforReconstructionandDevelopment/TheWorldBank 1818HStreetNWWashingtonDC20433 Telephone:202-473-1000Internet:www.worldbank.org ThisworkisaproductofthestaffofTheWorldBankwithexternalcontributions.Thefind-ings,interpretations,andconclusionsexpressedinthisworkdonotnecessarilyreflecttheviewsofTheWorldBank,itsBoardofExecutiveDirectors,orthegovernmentstheyrepresent. TheWorldBankdoesnotguaranteetheaccuracy,completeness,orcurrencyofthedataincludedinthisworkanddoesnotassumeresponsibilityforanyerrors,omissions,ordiscrepanciesintheinformation,orliabilitywithrespecttotheuseoforfailuretousetheinformation,methods,processes,orconclusionssetforth.Theboundaries,colors,denominations,andotherinformationshownonanymapinthisworkdonotimplyanyjudgmentonthepartofTheWorldBankconcerningthelegalstatusofanyterritoryortheendorsementoracceptanceofsuchboundaries. NothinghereinshallconstituteorbeconstruedorconsideredtobealimitationuponorwaiveroftheprivilegesandimmunitiesofTheWorldBank,allofwhicharespecificallyreserved. RightsandPermissions Thematerialinthisworkissubjecttocopyright.BecauseTheWorldBankencouragesdisseminationofitsknowledge,thisworkmaybereproduced,inwholeorinpart,fornoncommercialpurposesaslongasfullattributiontothisworkisgiven. Anyqueriesonrightsandlicenses,includingsubsidiaryrights,shouldbeaddressedtoWorldBankPublications,TheWorldBankGroup,1818HStreetNW,Washington,DC20433,USA;fax:202-522-2625;e-mail:pubrights@worldbank.org. WorldBankGroup Finance,CompetitivenessandInnovationGlobalPractice TheEffectsofMatchingGrantsonTechnologyStartups: TheCaseofKorea’sTIPS TIPS:TechIncubatorProgramforStartup seoulcenterforfinanceandinnovation january2024 Acknowledgments ThereportisacollaborationbetweentheWorldBankSeoulCenterforFinanceandInnovationandtheKoreaAdvancedInstituteofScienceandTechnology(KAIST)InnovationStrategyandPolicyInstitute(ISPI).TheresearchteamwasledbyAnwarAridi(SeniorPrivateSectorSpecialist,WorldBank)andWonjoonKim(Professor,KAIST),whichincludedKibumKim(PrivateSectorSpecialist,WorldBank),KyeyoungShin(Consultant,WB),JooSuebLee(SeniorEconomist,WB),andDae-hyunKim,TaekyunKim,andHyunsungParkfromKAIST. ThenotebenefitedfromtheguidanceoftheWorldBankManagement,ZaferMustafaoglu(PracticeManager)andJasonAllford(CountryManager),andfromfeedbackandcommentsprovidedbyXavierCirera(SeniorEconomist)andNelsonGray(Consultant). ThisknowledgenotewasmadepossiblebyagrantfromtheKoreanMinistryofEconomyandFi-nance,providedthroughtheSeoulCenterforFinanceandInnovationandtheWorldBankGroupKoreaOffice.AnearlierversionofthedataanalysiswassupportedbytheBasicScienceResearchProgramthroughtheNationalResearchFoundationofKorea(NRF)fundedbytheMinistryofEdu-cation(2021R1A6A1A14045741). thecaseofkorea’stips4 Contents Acknowledgments4 AbbreviationsandAcronyms6 ExecutiveSummary7 01.Introduction9 02.DevelopmentofKorea’sEntrepreneurialEcosystem15 03.OverviewofTIPS20 04.DataandMethods24 05.Results30 06.ConclusionandPolicyImplications39 References45 Appendices50 A.OverallProcessoftheTechIncubatorProgramforStartup51 B.TypesofTechIncubatorProgramforStartupSupport53 C.EligibleTechIncubatorProgramforStartupExpenditures55 D.Comparisonofpublic-privatematchinggrantprogramsfortechnologystartups56 E.DeeptechTechIncubatorProgramforStartup58 thecaseofkorea’stips5 AbbreviationsandAcronyms GDPGrossdomesticproduct IPOInitialpublicoffering KAISTKoreaAdvancedInstituteofScienceandTechnology KBANKoreaBusinessAngelsAssociation KISEDKoreaInstituteofStartup&EntrepreneurshipDevelopment KRWKoreanwon KoDATAKoreaRatingandData KODITKoreaCreditGuaranteeFund KOSDAQKoreanSecuritiesDealersAutomatedQuotations KOTECKoreaTechnologyFinanceCorporationKVICKoreaVentureInvestmentCorporationM&AMergerandacquisition MSSMinistryofSMEsandStartups OLSOrdinaryLeastSquares R&DResearchanddevelopment SMEsSmallandMedium-sizedEnterprisesTIPTechnologicalIncubatorsProgramTIPSTechIncubatorProgramforStartupVCVenturecapital thecaseofkorea’stips6 ExecutiveSummary Althoughgovernmentsaroundtheworldhaveintroducedpoliciestosupportstartupsandfosterentrepreneurialecosystems,researchfindingsontheeffectivenessofsuchpublicsupportarein-conclusive,suggestingthatthedesignandimplementationofstartupsupportprogramsmayplayaroleindeterminingprogrameffectiveness.Whileprivatefirmsareofteninvolvedindesigningandimplementingtheseprograms,researchintohowthisaffectsprogrameffectivenessislimited.Theobjectiveofthisstudyistoprovideempiricalevidenceoftheeffectivenessandadditionalityofapublic-privatematchinggrantprogramandidentifykeydesignfeaturesthatmaybereplicableinothercountries.Thetargetaudienceofthisnoteincludespolicymakersandresearchersinter-estedinthedesignandimplementationofentrepreneurshippolicy. ThisstudyinvestigatesthecaseofaKoreanpublic-privatematchinggrantprogramcalledtheTechIncubatorProgramforStartup(TIPS).Launch