This study sought to empirically analyze how entrepreneurial factors, product factors, firm factors, and host country environmental factors influence the selection of entry mode when venture firms enter foreign markets. The results indicated that among entrepreneurial factors, the entrepreneur's degree of international experience and opportunity recognition capability were significant in the selection of entry mode. Among product factors, the degree of technological innovativeness embodied in the product and the level of sales transaction costs were significant; among firm factors, the firm's degree of experience in overseas operations and exchanges and firm size were significant; and among host country environmental factors, the host country's market size and the degree of cultural distance between the host and home countries had significant effects on entry mode selection. In particular, entry modes were classified into export, cooperative, and independent types, and the effects of the aforementioned factors on the selection of entry mode were empirically identified.