This study empirically examines the policy effects of Korea’s inbound startup program using panel data from the K-Startup Grand Challenge (2017–2024).
Quantitative analysis investigates how programmatic support, localization capability, and instit...
This study empirically examines the policy effects of Korea’s inbound startup program using panel data from the K-Startup Grand Challenge (2017–2024).
Quantitative analysis investigates how programmatic support, localization capability, and institutional clarity influence the settlement performance and survival of foreign startups in Korea. Qualitative comparison of high- and low-performing teams complements the statistical findings by revealing underlying mechanisms. Results indicate that programmatic support, localization, and institutional clarity positively affect settlement outcomes, with localization acting as a mediator and institutional clarity serving as a moderator that strengthens the effects. The study suggests that Korea’s inbound startup policy should transition from short-term attraction to a settlement- and localization-oriented framework. It contributes to international entrepreneurship literature by identifying the interplay between institutional environments and localization processes within public acceleration programs.