In today's rapidly evolving technological landscape, startups powered by transformative technologies - Internet of Things (IoT), O2O services, FinTech, Virtual and Augmented Reality (VR/AR), 3D printing, Artificial Intelligence (AI), Big Data, and mobile solutions - are reshaping industries and capturing global attention. As technology-driven ventures continue to demonstrate remarkable success stories, entrepreneurial momentum is accelerating across both developed and emerging economies.
However, many startups face bankruptcy after experiencing the notorious 'valley of death' due to early-stage challenges in securing funding, commercializing technology, establishing domestic and international market channels, acquiring specialized accounting and tax knowledge, and managing organizational structures. Notably, Korea's startup survival rate after three years stands at just 39.1% as of 2016, approximately 20% lower than other OECD countries such as the United States (61.2%), Sweden (75.2%), Italy (60.4%), France (54.4%), and Germany (52.6%).
