STRATEGY FOR TECHNOLOGY VENTURES SELECTION

Abstract

There is growing interest for investment into high-technology start-ups and spin-offs emerging from the Bulgarian universities and research institutes. But technology transfer and commercialization is risky and has been slow mainly because academic research is often too early-stage to be directly commercialized. The authors will compare the strategy with that of Korea by analyzing its venture certification practice including past performance and recent challenges. It adopts Kibo Technology Rating System (SM 2.0) in Korea for evaluating technology start-ups based on growth potential and business risk used for debt guarantee financing and certifying as 'venture'-legitimate national certificate for policy benefit. This paper aims to propose a strategy for technology ventures evaluation and selection for Bulgarian academic institutions.