Ever-increasing unpredictability has led to recognition of increasing importance of innovation capabilities of businesses. In spite of recognizing such an important issue of innovation capability, not much research has been conducted on the relationship between innovation capabilities in business planning, R&D, commercialization and innovation performance. The current research, thus, intends to provide an empirical analysis of the effect of smart farm companies’ innovation activities on their innovation performance. Classifying innovation capabilities into three categories of planning, R&D and commercialization capability, the current research aims to identify the effect of each category on sales and patent acquired. Moreover, it aims to identify the moderating effect of governmental policy and support for technology on the relationship between innovation activities and performance. It was found that planning, R&D and commercialization capabilities exerted a positive impact on business performance. It was also found that governmental policies and support helped enhance business performance.

Korea’s small- and medium-sized enterprises are desperate to improve their performance through engaging in technological innovation, due to the fierce competition prevalent in a low growth economic environment. However, most small- and medium-sized enterprises are having difficulty responding to changes in the economic environment due to the challenge of developing their own technologies and their limited resources. The aim of this study is to assess whether government financial support for R&D aimed at small- and medium-sized enterprises has contributed to improvements in their business management performance. The sample of this study was comprised of 105 KOSDAQ-listed small- and medium-sized enterprises with experience in technology development. The empirical analysis was conducted on the basis of the mediating effect measurement method of Baron and Kenny (1986). It was found that company technological innovation capabilities have a positive effect on management performance, and in particular, that the majority of companies that received government financial support for R&D have improved their management performance. Therefore, it is recommended that small- and medium-sized companies take an active part in various government R&D financial support programs and make efforts to strengthen their technological innovation in areas such as their product service and process innovation capabilities.

Today, innovation is achieved by challenging the existing paradigm through cross-field collaboration, and R&D innovation plays a particularly crucial role. This study analyzed the effects of R&D innovation activities on business management performance in South Korea and examined the role that patents play in various R&D innovation activities. Panel regression and moderating effect analyses were conducted on small- and medium-sized venture enterprises that undertook new technology projects over five years (2015–2019). The results showed that R&D innovation activities had a significantly positive effect on both revenue, an indicator of business growth, and operating profit, an indicator of profitability. This implies that such activities play a positive role in management activities. Thus, enterprises should consider R&D innovation activities from a business growth strategy perspective. Additionally, the analysis showed that a firm’s capacity to hold patents on R&D innovation activities has a positive moderating effect on business management performance. This study is significant, as it reveals the cause-and-effect relationship between R&D innovation actives and business management performance as well as the role of various types of innovation. The results could help enterprises to seamlessly implement innovation activities in the future.

The purpose of our study was to propose the measures necessary to promote industry-academic cooperation by investigating and analyzing factors affecting its performance Recently, the Korean government increased the budget available for industry-academic cooperation to help nurture industrial talent and promote industry-academic cooperation. In our study, the results of industry-academic cooperation for 48 universities that carried out the 5-year LINC development project from 2012 to 2016 were analyzed via panel analysis to identify any factors affecting the performance. Our analysis revealed that the organizational capabilities of the university—including the number of dedicated professors, the number of projects assigned, and the financial support—had a significant effect on technical commercialization. In addition, we found that the moderating effect of allied companies on the relationship between the organizational capabilities of universities and their technical commercialization was significant. However, the results of our analysis differed depending on university location. Universities in and around the Capital region benefited from their organizational capabilities and cooperation with allied companies. Based on the results of the analysis, we conclude that it is necessary to consider a variety of factors, including efficient support of the industry-academic cooperation budget and practical application of industry-academic cooperation systems.