1. Objectives This work focuses on the analysis of economic impacts of government funded research institute’s(GFRI) short-term R&D for SME. In this work short- term R&D covers research projects that are funded for less than one year. Hypothesis and Methodology 1. The economic impacts of short-term R&D project supported by GFRI shall have a high correlation with a research period, amount of R&D investment, and company size : With a Pearson Simple Correlation Analysis, analyzed the correlation between the economic impacts of short-term R&D project and another factors like R&D period, amount of R&D investment, and company size 2. Short-term R&D projects for SME shall have a significant impact on SME’s new sales, business profit, and cost reduction. : Using multiple regression analysis, analyzed the significance of each variable’s impact Y = New Sales Increase, Production Cost Reduction, Job Creation X 1 = Research Period X 2 = Research Investment X 3 = Company’s size(Size of sales) e = Error Dataset Economic impacts survey data of 182 short-term R&D projects performed by GFRI for SME Data sources: 7 Korean government-funded research institutes Main variables: R&D investment. research period, new sales, employment Samples are divided into three parts on the short-term R&D projects’ period(3, 6, 12 months) Results 1. Correlation between economic impacts and GFRI’s short- term R&D for SME There is no correlation between company size and the others(new sale increase, export growth, job creation, etc) But R&D period and amount of R&D investment have a statistically significant correlation with SME’s economic impacts. (for R&D period p<0.01, for amount of R&D investment P<0.01) 2. Short-term R&D’s impact on SME's economic impacts Impact s on SME's new sales creation : Research period is a significant variable for SME’s new sales creation. Longer research period lead to more new sales creation. But the other variables are not. Impact on SME's job creation : Research period & amount of R&D investment are significant variable for SME’s job creation. Longer research period & more money for R&D lead to more number of job. But company size is not. Policy implications Company size should not be considered in selecting GFRI’s short-term R&D support. When ex-ante evaluating R&D program for SME, company size should not be considered. Next steps Need comparative analysis of economic impacts between industry-government (GFRI’s R&D) program for SME and industry-industry R&D program. Economic Impacts of Short-Term R&D for SME Correlation between R&D and economic impacts of SME Contact Eunjung Ma, Sangil Kim Korea Institute of Science and Technology Evaluation and Planning Seoul, Korea Tel. 82 2 589 2258 E-mail: best7869@kistep.re.kr, cappy@kistep.re.kr NOTES 1.Poster Title Replace the mock-up text of the poster title (”Joint Research Centre”) with the text of your own title. Keep the original font colour (100c 80m 0y 0k). Keep the flush-right justification. Set it in Helvetica Rounded Bold Condensed, if you own the typeface. Otherwise, in Arial, Helvetica or Verdana – plain or bold. Keep the original font body size (102 pt or, preferably,120 pt) and the title on a single line whenever possible. 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Multiple Regression Model : Y=aX 1 + bX 2 + cX 3 + e Correlation Analysis sizeperiod research fund cost reduction sales increase export growth job creation business profit size correlation coefficient 1.057.026.070.023-.188-.057 -.101 p-value.451.726.544.778.286.679.316 period correlation coefficient.0571.572 **.293 **.488 **.360 *.215.274 ** p-value.451.000.009.000.031.112.005 amount of research Investment correlation coefficient.026.572 ** 1.398 **.349 **.085.735 **.130 p-value.726.000.621.000.192 cost reduction correlation coefficient.070.293 **.398 ** 1.205-.308-.037.163 p-value.544.009.000.080.186.833.225 sales increase correlation coefficient.023.488 **.349 **.205 1.621 **.052.487 ** p-value.778.000.080.000.716.000 export growth correlation coefficient -.188.360 *.085-.308.621 ** 1.245.456 * p-value.286.031.621.186.000.313.013 job creation correlation coefficient -.057.215.735 ** -.037.052.245 1.009 p-value.679.112.000.833.716.313.955 business profit correlation coefficient -.101.274 **.130.163.487 **.456 *.009 1 p-value.316.005.192.225.000.013.955 independent variable standardization coefficient tPR² adjusted R² FP β (constant) -0.4730.637 0.2990.28419.9160.000 company size -0.088-1.2460.215 period 0.4905.7770.000 amount of R&D investment 0.0891.0470.297 independent variable Standardization coefficient t P R² adjusted R² FP β (Constant) 2.9630.005 0.838 0.828 82.770 0.000 Company size -0.021-0.3560.723 Period -0.299-4.5120.000 Amount of R&D investment 1.02115.3760.000