Since Korea's survival rate after five years of startups is far lower than the average of the Organization for Economic Cooperation and Development (OECD), corporate performance has become the most important factor for startups' survival and developme...
Since Korea's survival rate after five years of startups is far lower than the average of the Organization for Economic Cooperation and Development (OECD), corporate performance has become the most important factor for startups' survival and development. This study empirically analyzed the impact of internal capabilities and external support on the performance of technology startups. The internal capability variables were agile leadership and learning agility, while external support comprised startup funding, mentoring, marketing, infrastructure, and educational support. Additionally, the study examined how these factors differentially affected corporate performance between startups in the initial stage and those in the advanced stage. An online survey was conducted targeting executives (CEO, CTO, CFO, CMO, etc.) of technology startups, and structural equation modeling using AMOS 24 was applied to 288 valid responses.
The findings indicated that agile leadership, learning agility, startup funding, mentoring, marketing, infrastructure, and educational support all had a significant positive effect on the performance of technology startups, with infrastructure support having the greatest impact. For startups in the initial stage, learning agility, funding, and marketing support influenced corporate performance, whereas agile leadership was more impactful in startups in the advanced stage. Both infrastructure and educational support were significant across all stages.
This study made an important academic contribution by highlighting how internal capabilities and external support differentially influenced startup performance at various growth stages. Practically, it offered strategic insights for enhancing startup performance, particularly in addressing the low survival rates of Korean startups.