AUCNET is an electronic market system for used-car transactions in Japan. AUCNET was built by an entrepreneurial used-car dealer, who foresaw that the redesign of the auto auction process using computers and telecommunications would significantly improve the market efficiency of used-car trading. We have found that the quality of secondhand cars traded in AUCNET is much higher than those sold in traditional markets. Separation of car transportation from the auction process using computer and communication technologies was revolutionary to most dealers who used to come to auction sites for trading cars. To overcome resistance and suspicion over the new market process, AUCNET had to establish its institutional rule to reduce transaction risks of uncertain qualities, standardizing the product representation and inspection process to establish trust for information of cars listed in its electronic market system. As a result, the quality of secondhand cars traded in AUCNET is much higher than those sold in traditional markets and this difference in car quality is a prime reason for the higher vehicle price in AUCNET. AUCNET's success provides a significant implication to venture business for electronic commerce. If qualities of products traded over electronic networks widely vary, the venture firm should establish institutional rules and policies so that market participants can trust product information in electronic markets.

Business Management is affected by many environmental factors such as economy and technology. Among these factors, Internet is becoming more and more important as an environmental factor not only to IT business bur also to industry in general. This study investigates the current status of venture business using Internet as a strategic tool.
This study especially focuses on areas of Internet marketing and Internet advertising for case studies. This study provides the opportunity for benchmarking as to the critical success factors of venture business in the area of Internet.

The purpose of this study is to examine difference of the new product development practices and factors that contribute to new product success between ventures and non-ventures. This study investigates 52 new product development projects from 15 firms, which are categorized into 4 groups including one venture group and three non-venture groups based on firm size and industry characteristics.
While there is few differences in new product development practices, the results of this study shows some differences in determinants of new product performance between ventures and non-ventures. High degree of market growth, technology and market fitness, organic procedure and structure, proficiency in early stage of development are salient success factors in ventures. Based on the research results, this study suggests the guidelines for top management and new product project manager in venture. In addition, limitations and suggestions for further study are noted.

A main purpose of this study is to establish the conceptual framework for identifying success factors of technology-based small ventures(venture companies). For the purpose, the existing studies on start-up company, entrepreneurial firms, small firms with competitive advantage against large firms, high-tech firms, technology-based firms, and venture-capital vacked firms were reviewed. We found that factors such as characteristics of entrepreneur, environment, competitive strategies, resource capabilities, and organizational structure have been considered as the main influences on the performance of venture business. With a conceptual framework, we suggest 12 propositions which explain the impact of the success factors on venture performance.

Today economies in Korea is not as healthy as it might be. Venture business through technological innovation is increasingly suggested as one of the main engines for economic growth that can help to control inflation and positive trade balance. This study examines the development process and strategical type of venture business through normative framework. Major determinants for the success of venture business are suggested to delineate managerial implications in Korean situation. It includes effective management of venture capitals, construction of outsourcing networks and infrastructure in technological know-how, and efficient marketing and promotional strategies.

This paper studies reform measures of the infrastructure which can vitalize the current venture industry. In so doing, the following procedures have been undertaken : (1) developing the analytical model for the analysis of the infrastructure of venture industry; (2) identifying the demand factor of the infrastructure by reviewing the literature of the influential factors about new venture performance; (3) assessing the supply side of the infrastructure by investigating the current status; (4) identifying the problems of the infrastructure by comparing the demand and supply aspects of it; (5) deriving the alternative reform measures to solve those problems. In proposing reform measures, reform measures at macro level were derived first and then specific methods measures, reform measures at macro level were derived first and then specific methods based on the macroscopic reform measures were investigated. Macroscopic reform measures are as follows : (1)introduction of free competition by removing various regulations and limitations (2) understanding f the real system of venture industry(mechanism and phenomenon) (3) securing specialty by retaining focus in the groping for institutions and methods applying to venture industry (4) emphasis of soft-technological aspects like management technique and/or information in addition to money and personnel.

Inspite of increasing importance of entrepreneurs for successful new venture creation, structured educational programs for entrepreneur development are very limited in Korea. Based on the survey of existing academic programs and interviews with entrepreneurs, this study presents a new education system for entrepreneurial management and new venture creation.
Specifically, seven venture educational programs are suggested. As degree programs, i) new venture interdisciplinary program and ii) venture MBA program are presented. Also, iii) advanced venture management program, iv) venture capitalist training program, and v) potential entrepreneur training program are suggested as non-degree programs. In additions, special and supporting programs such as vi) technological entrepreneurship seminar and vii) new venture forum are explained. Finally, some examples of typical entrepreneurial management courses are presented and policy implications are suggested.

The unpredictable trend of technological change and the uncertainty of R&D activity for innovation are among the key barriers to participating in emerging markets. As potentially significant players for new markets, new technology business firms(NTBFs) are increasingly important to building up a knowledge-based economy in that they can create a number of jobs this country desperately need right now, and generate a significant amount of new wealth, restructuring industrial structure by innovation. Technology business incubators(TBI) provide various services that enhance these firms' opportunity for success and greatly contribute to the economy.
From the point of government's view, this paper characteristically surveys the TBIs(or BI) in Korea and the typical TBI-related institutions and functions of the USA. Japan and Israel which are successfully playing their roles and are strategically important to their economy. Similarities and differences among four countries are presented and compared so that policy implications are derived as the lessons and policy suggestions.