Overcoming the Barriers in Creating and Managing High-Tech Ventures: A Case Study of Korean Start-Ups in Silicon Valley

Silicon Valley has become a melting pot of talent, opportunity, and capital from not only the United States but around the world. This seminar will focus on how Korean entrepreneurs can incorporate and manage high-tech ventures successfully in Silicon Valley by overcoming critical barriers--managerial, technical, and cultural. Based on in-depth case studies of Korean start-ups in Silicon Valley, this presentation identifies problems faced by entrepreneurs along the stages of venture development. It also suggests to Korean entrepreneurs a process to overcome barriers through support from partners and advisory experts in Silicon Valley and Korea. More specifically, this seminar will discuss the experiences of Korean start-ups in Silicon Valley in writing business plans, raising funds, hiring and motivating employees, and addressing cultural issues. In addition, some lessons and guidelines for foreign entrepreneurs in surmounting the obstacles for the successful incorporation and growth will be discussed, such as the importance of forming the founding team with complementary assets and the legal form of the entity.

Dr. Zong-Tae Bae is an Associate Professor at the Graduate School of Management, Korea Advanced Institute of Science and Technology (KAIST), Seoul, Korea. He is currently on sabbatical from KAIST and working as a Visiting Scholar of the Graduate School of Business (GSB) and the Asia/Pacific Research Center (Shorenstein APARC) at Stanford University. His research interests include various aspects of technology management and entrepreneurship. Currently he is conducting a research project on a global model of new venture development. He has published 10 articles in international journals such as R&D Management and Journal of Production Innovation Management. He received a B.S. in Industrial Engineering from Seoul National University in 1982, and a M.S. and Ph.D. in Management Science from KAIST in 1984 and 1987, respectively.