Assessment of Startup Growth with Comparative Innovation Policies in Asian Technology Hubs
Keywords:
Startup Growth, Innovation Policy, Structural Equation Modeling, Asian Technology Hubs, Comparative Innovation PoliciesAbstract
This paper examines the structural relationships between government innovation policy instruments and startup growth dynamics across three primary Asian technology hubs: Singapore, Shenzhen, and Tokyo. Drawing on institutional theory and the resource-based view, we construct a structural equation model to map how direct financial subsidies, regulatory sandboxes, and public infrastructure support influence startup performance through the mediating channels of resource capability and market access. Using survey data collected from 550 technology startups across these three ecosystems, we perform a multi-group structural equation modeling analysis. The findings reveal that while direct financial subsidies have a robust positive impact on early-stage resource acquisition in Singapore and Tokyo, Shenzhen exhibits a highly pronounced path from public infrastructure and supply chain integration to rapid market access and revenue scaling. Furthermore, regulatory sandboxes act as a crucial catalyst for growth in high-regulated sectors like fintech and biotech in Singapore, whereas Tokyo benefits heavily from localized corporate-startup collaboration policies. By providing a comparative empirical assessment of these distinct policy pathways, this research offers critical structural insights for policymakers, entrepreneurs, and venture capitalists aiming to design, navigate, and optimize innovation ecosystems in the Asian context.References
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