SME Competence and Global Entrepreneurship At 2018 ASEIC Global Innovation Forum Gihong (George) Kim Prof. of Entrepreneurship and ICT Director, Inst. for Entrepreneurship and Innovaton Handong Global University

Sustainable Develop Goal (SDG) Most goals are related directly or indirectly with Entrepreneurship 15 out of 17 goals are related with Technology In this Information Age, the Technology is synonymous with Information and Communication Technology) (ICT) The Entrepreneurship and Technology, together can be a major tool for Green Growth and SDG

Four factors that fuels a new business: Natural Resources Capital Human Resources Entrepreneurship ← Catalyst, Trigger Entrepreneur Environment Entrepreneurship: The factor that blows breath into the other ingredients:

Entrepreneurship Environment Should have the Four Rights: Private property Fair competition Free choice Appropriate Profit

Contribution of Entrepreneurship Create jobs Facilitate New Technology Spur Innovation The Main Engine that made the developed countries Catapult for developing countries to catch up with the developed

Two Definitions of Entrepreneurship Narrow Definition: Making a company Do a venture business Make jobs Broad Definition: A mindset Life style Spirit to create something from nothing Actually entrepreneurship has a broad and a narrow definitions. Most people understand it only as its narrow definition, that is starting a new business. It can be seen even from the fact that entrepreneurship is taught mostly as part of business now. But the entrepreneurship spirit that acts as the catalyst for economic development of a country is its broad definition, the mindset, spirit and life style - to create something from nothing. It is not confined only to business; Its spirit is applicable to all occupations from business to politics, to education, to science and to academics and like. Entrepreneurship is not a knowledge, therefore, it cannot be taught, it is inherited with a culture from birth or acquired through experience. 6

Gazelle Symbolizes Innovative Entrepreneurs

Entrepreneurs are NOT just Small Business Owners Not All Small Businesses Owners are Gazelle Expecting stable sales, profits, and growth True Entrepreneurs: Gazelle Focus ton innovation, profitability and sustainable growth

Two Kinds of Entrepreneurship Subsistence Entrepreneurship Survival Sign of lack of jobs and economic difficulty Little contribution for economy development Opportunistic Entrepreneurship: Young gazelles joining new start-ups Major contributors for development of economy Spirit to create something from nothing Actually entrepreneurship has a broad and a narrow definitions. Most people understand it only as its narrow definition, that is starting a new business. It can be seen even from the fact that entrepreneurship is taught mostly as part of business now. But the entrepreneurship spirit that acts as the catalyst for economic development of a country is its broad definition, the mindset, spirit and life style - to create something from nothing. It is not confined only to business; Its spirit is applicable to all occupations from business to politics, to education, to science and to academics and like. Entrepreneurship is not a knowledge, therefore, it cannot be taught, it is inherited with a culture from birth or acquired through experience. 9

Entrepreneurship as a function of Economic Development Stage (GEM)

Income Level as a function of Opportunistic to Subsistence Entrepreneurship Ratio (GEM)

Entrepreneurship and Technology Innovation that brought Industrial Revolution ushered in the ICT Age

Engine then and now

Light Houses then and now

Evolution of Technology

Everything Mechanical → Everything Electronic

Mechanical Car → Electronic Car

Real → Virtual: (Almost any thing can be virtual)

ICT Age ICT is becoming Pervasive in Every Sector of Industry and Economy Virtual way of performing tasks With reduced cost and complexity Offers opportunity for all.

Improvement of SME Competency Readiness of Mindset: Entrepreneurship Education Understanding Mechanics of Starting and operating a Startups Improvement of Start-up Financing from Debt Financing to Equity Financing Lion Share of Roles and Responsibility of the Government Social and Moral Responsibility: Glonal Responsibility

Tasks for Developing Countries Problems: Extreme poverty Lack of infra-structure and basic sanitation Need for jobs Need for basic education Social unrest and violence Tools: Technology: ICT Mindset to harness the technology

Areas begging Attention by The Government Help to assure The Four Rights Infrastructure to facilitate the commerce with entrepreneurship Communication: Satellite Internet Transportation: Simple and hierarchical Energy: For the above and commerce activities

Plant hope in the minds of people in needs with Entrepreneurship 23