earticle

영어

This study investigates how a government-funded research institute facilitated the growth of a high-potential spin-off firm through a combination of equity investment and life-cycle support. Drawing on theories of absorptive capacity and innovation intermediation, the research examines how ETRI’s support mechanisms enabled Firm B to transform external technologies into tangible performance outcomes. The case demonstrates three distinct stages of technology absorption support: (1) short-term learning through consultations and seminars, (2) intensive problem-solving for commercialization difficulty, and (3) long-term researcher on-site dispatch to embed knowledge into product design and manufacturing. These sequential supports illustrate the transformation of potential absorptive capacity into realized absorptive capacity. Beyond technology absorption, ETRI’s commercialization division provided an integrated package of consulting, infrastructure, branding, and government project linkages, thereby acting as an innovation intermediary that connected technology, capital, and markets. As a result, Firm B achieved significant outcomes, including the localization of technology, revenue growth, U.S. patent registrations, expanded R&D capabilities, and enhanced enterprise value. The findings provide empirical evidence that government-funded research institutes can effectively accelerate firm growth by simultaneously enabling absorptive capacity and mediating innovation, offering both theoretical contributions and practical implications for institute-led growth models.