The Effect on the Innovation Performance of ICT Venture Companies by the Types of Government Support Focusing on Funding and R&D Support

Today, ICT venture companies play a key role in the national economy, but they are having a lot of difficulties in their growth due to rapid changes in external environments and limitations in internal resources. To solve this problem, the government is pursuing various support policies, but its effectiveness is still being questioned. Therefore, this study aims to examine the effect of each type of government support on the innovation performance of ICT venture companies.For the empirical analysis, the ICT venture panel survey data provided by Korea Information Society Development Institute was used, and the innovation performance of ICT venture companies was measured by the number of patent applications. The reason is that, above all else, it is important to continuously create the innovation performance in order to secure the competitiveness of ICT venture companies. In addition, the types of government support were analyzed by dividing them into funding and R&D support. Finally, the propensity score matching was applied to solve the problem of selection bias and to determine the pure effect of government support.As a result of the analysis, it was found that funding and R&D support had a positive effect on the innovation performance of ICT venture companies. This suggests that the necessary support for ICT venture companies should be provided first, rather than promoting various support policies. The results of this study can be used as basic data when implementing government support policies.