This paper empirically analyzes the cost of new technology projects of venture companies perceived by entrepreneurs in strategic viewpoints. The cost factors related to the future value of the new technology consist of development cost factors and commercialization cost factors. The development cost factors include technology development capability factors, technology spillover factors and potential risk factors. The commercialization cost factors include commercialization infrastructure factors, ease of commercialization factors, use of existing resources factors and cooperative high-tech industry factors.
The empirical survey by questionnaires and performance evaluation were performed with the cooperation of KTCGF(Korea Technology Credit Guarantee Fund) and KDBCC(Korea Development Bank Capital Corporation). As a result of the analysis, both of them evaluated that the future value of the technology becomes higher when the possibility of the development cost reduction is higher in the development process of new technology. For the commercialization cost only KTCGF data shows statistically significant results on some factors such as outstanding technician factors.
This research identified the determinants of future cost stream of high technology development projects. The findings of this research will provide entrepreneurs and venture investors with criteria to evaluate value of high technology development in terms of the cost expectation.