The contributions of high-tech new ventures to the economic development of regions and countries are undeniable. The importance of new ventures for job and wealth creation has led public policy makers and researchers to search for factors that predict business' success and survival.
But our current model for how to develop a successful high-tech venture is almost-but not quite-right. As a result, our ventures, despite normally promising start, drift off course in puzzling ways, eventually causing unexpected and unnerving gaps in sales revenues.
The key in all this thesis is crossing the chasm and making the mainstream market emerge. The main research questions are as follows:
i) What are major characteristics and success factors of Korean new ventures?
ii) How can cross the chasm that exists between early market and mainstream market in the technology adoption life cycle?
Through this thesis, a new venture is defined as being a new technology-based firm. The unit of analysis of this research is an individual firm.
This thesis consists of two parts. One is to explore the characteristics of entrepreneur, the industrial structures and characteristics, the strategy, and the organizational characteristics and educe the success factors. The other is to analyze the mean of crossing the chasm by using the whole product model.
To find the means of crossing the chasm, three venture firms which already cross the chasm and create the mainstream market, one venture firm which still stay in the chasm, and one venture firm which doesn't come the chasm yet are analyzed and studied in this thesis.
The main results of this research are as follows. First, The companies that create mainstream market successfully didn't be satisfied with their start products in early market but continued to develop next products
Second, the research and development of the product for creating the mainstream market were made outer circles of the whole product, through expected product, augmented product, and potential product.
Finally, there are many remarkable changes in marketing which induce the marketing concept, secure marketing channel, increase the after service regions and members.
This is the first thesis that deals with crossing the chasm in the Korean new ventures. The result of this study will be useful for potential entrepreneurs or entrepreneurs who manage the new ventures to create the mainstream market.
