A study on the effect of start-up companies' technological commercialization capabilities on the commercialization performance- Focusing on the moderating effect of transformational leadership

Abstract

Background/Objectives: This study analyzes how the capabilities of technology commercialization and CEO’s transformational leadership of start-ups plays a role in promoting the commercialization performance under uncertain and urgent circumstances.

Methods/Statistical analysis: Total 194 questionnaires were surveyed on venture companies belonging to the Korea Venture Business Association and start-up companies supported by start-up support groups of major universities. Among them, 143 valid questionnaires were analyzed, excluding 51 questionnaires beyond the requirements of start-ups. The statistical analysis was conducted using descriptive statistical analysis, exploratory factor analysis, reliability verification, correlation analysis, and multiple regression analysis using SPSS 22.0.

Findings: In terms of technological commercialization capability, marketing capability and technology development capability had a significant positive effect on commercialization performance, whereas manufacturing production capability and productization capability did not have a significant effect. When looking at the impact on commercialization performance, it was found that marketing capability had more influence than technology development capability. Also, it was found that transformational leadership (charisma, intellectual stimulation, individual consideration) mainly moderates the relationship between technology development capability and commercialization performance among technological commercialization capabilities. In the factors of transformational leadership, it was analyzed that the relationship between technology development ability and commercialization performance was shown to have a moderating effect in the order of charisma, intellectual stimulation, and individual consideration.

To successfully lead the technology commercialization of start-up companies, among technological commercialization capabilities, marketing capability and technology development capability are becoming more important to better understand customer needs and grow in a rapidly changing business environment amid the acceleration of the 4th industrial revolution.

Improvements/Applications: In a situation where the importance of technology is increasing, there is a growing need for the transformational leadership, which has a significant moderating effect on technology development capability.