[Regulatory Republic] Regulations Holding Back Startup People... The Nightmare of the Tada Ban Law Remains

<2> Startup Regulation Survey
'Lack of Support, Insufficient Capability, Regulation' Challenges
"Only 20% Satisfied with Regulation Easing"

Startup workers identified three main factors as the biggest challenges facing the industry: lack of investment support, insufficient entrepreneurial capabilities, and excessive government regulations or inadequate legal systems. Additionally, although the venture and startup ecosystem has recently improved, only 2 out of 10 respondents expressed satisfaction with the government's regulatory relaxation efforts.

According to a survey conducted by Asia Economy on the 11th, commissioned to the mobile survey platform Open Survey, which polled 300 startup employees, respondents cited the lack of support from venture capitalists and accelerators (19.3%) as the greatest difficulty.

This was followed by insufficient entrepreneurial capabilities (18.3%), excessive regulations or inadequate legal systems (15.7%), conflicts with traditional businesses and interest groups (13.3%), lack of social awareness (11.3%), and excessive competition within the industry (11.3%). The challenges were diverse and not concentrated in any single area.

Last year, 57% of respondents gave positive feedback on the overall growth trend of the venture and startup ecosystem, indicating a generally favorable view. Only 9.3% felt it had changed negatively. Regarding government support policies for venture and startup growth, the average score given was 61 out of 100.

The passage of the ‘Tada Ban Act’ in the National Assembly left a strong impression on startup workers. Although nearly two years have passed since the issue, 66% of respondents still remembered the Tada Ban Act. In contrast, only 2 out of 10 were aware of the movement to introduce a multiple voting rights (differential voting rights) system, a long-standing wish of the venture industry.

Meanwhile, this survey was conducted over two days, December 28-29 of last year, via a mobile application (app), with a sampling error of ±5.66 percentage points at a 95% confidence level. Detailed survey results can be found on the Open Survey results page.