Evaluating the Policy Effects of Korea’s Inbound Startup Program: An Empirical Study Based on KSGC (2017–2024) Panel Data

This study empirically examines the policy effects of Korea’s inbound startup program using panel data from the K-Startup Grand Challenge (2017–2024). Quantitative analysis investigates how programmatic support, localization capability, and institutional clarity influence the settlement performance and survival of foreign startups in Korea. Qualitative comparison of high- and low-performing teams complements the statistical findings by revealing underlying mechanisms. Results indicate that programmatic support, localization, and institutional clarity positively affect settlement outcomes, with localization acting as a mediator and institutional clarity serving as a moderator that strengthens the effects. The study suggests that Korea’s inbound startup policy should transition from short-term attraction to a settlement- and localization-oriented framework. It contributes to international entrepreneurship literature by identifying the interplay between institutional environments and localization processes within public acceleration programs.