This research examines the characteristics of incubating organizations of hi-tech ventures in the information technology industry. In particular, it attempts to investigate incubating conditions under which entrepreneurs obtain their management abilities and market information, locate business partners and prepare the prototypes of their new products. For the empirical test, three incubator organizations, two universities(Seoul National University and Korea Advanced Institute of Science and Technology) and a government research institute(ETRI:Electronics and Telecommunications Research Institute) are compared in terms of incubating conditions. It is found that two universities are not different in terms of lab members' demographic characteristics and their attitudes towards venture creation. However, the entrepreneurial environment of incubator organizations are different between the universities and ETRL. The universities have more favorable environments than ETRI in terms of providing management Know-how or capabilities, while ETRI has more favorable environments than the universities in terms a providing the information about markets, distribution channels or customers. The results of this study would provide many policy implementations to administrators of incubator organization as well as government policy-makers in making effective venture-creation policies.

This study explores the logic and extent of outsourcing strategy among new venture firms in Korea. We extend and adapt the theoretical perspectives on outsourcing activities of existing firms to start-up firms, assuming start-ups have more incentive to focus on their key technology development and core competence. Variables such as production cost, financial slack, core competence, competition among suppliers, production capabilities, and risk reduction are examined simultaneously to understand what factors influence the degree of outsourcing for venture firms. We surveyed 139 new ventures that were less than 10 years old as registered in the Small and Medium Business Administration. The results show that cost reduction is specially powerful motivation for venture firms though risk reduction, financial slack, supplier competition, production capabilities, and focus on core competence also positively effect outsourcing activities. Also, industrial sectors and development stages of venture firms were significantly related to their outsourcing strategies.

Education on entrepreneurship becomes a hot issue in universities and colleges. However, curriculums, programs, and teaching methods are underdeveloped yet. This paper deals with some cases of American universities and attempts to identify common characteristics of them. The authors expect that results from the case studies could offer ideas and information which might be useful to develop education systems or programs on entrepreneurship and venture creation.

The purpose of this paper is to analyze the core competence building processes of a successful Japanese venture company "HORIBA" in terms of resource-based view. The field survey methodology using the interviews with venture founders is utilized.
The product development process of "HORIBA" puts the emphasis on providing the market place with instruments accurately measuring exhaust gases from automobile engines and thereby aiding in the development process of providing the market with cleaner and more efficient environmentally friendly engines as stated in the vision of the company's.
In order to achieve this the company business mechanisms include steps to enhance the sources and capabilities of the company competitive advantage.
This includes the following: 1 ion of a market niche. 2 establishment of network relationships with other companies. 3 R&D processes emphasing new product development meeting the needs of the market place. 4 positioning as a global company. 5 unique corporate culture. etc. Characteristics and issues of the core competence building processes discussed in this paper.