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IAMCOMPANY, an educational technology startup created by a KAIST student
In-Mo Chung, a senior student of the Department of Industrial Design at KAIST, developed a mobile homework book application, IAMSCHOOL, in order to help parents engage, more interactively, in their children’s school activities.
Chung said in an interview with KAIST:
“I came up with creating my company, IAMCOMPANY, when I worked as a volunteer for a student club in 2009 that provides an educational service to high school students living in a less-favored environment. I found out their educational environment very poor, which ultimately led me to build a public interest business model for education.”
Chung created a few mobile applications including IAMSCHOOL and IAMCLASS. The application, IAMSCHOOL, receives school’s notices, homework assignments, or any information related to classes and sends them directly and immediately to parents, allowing real-time communications between parents and teachers. In Korea, parents usually check as many as 50 school notices per month.
Once registered, private educational institutes and public organizations can also receive school information through this application.
In July 2011, the Department of Science Management at KAIST hosted a student competition for startup ideas, and Chung’s idea to build an educational application won the best award. In 2012, he received the grand prize at the KAIST E-5 Startup Competition.
An undergraduate student who is the chief executive officer of a tech startup
Chung established IAMCOMPANY with the seed fund of 13 million Korean won that he had received from the city government of Daejeon. His business idea was selected as one of the 300 College Student Startup Projects, a startup support program operated by Daejeon City to encourage entrepreneurship among college and university students.
Chung talked about the background of his business:
“I think that my idea to offer a “free educational application” helped me win the first prize at the student startup competition. At that time, I was still young, so I considered the winning of the competition as an “exercise” to build my own business in the future. But when I actually started my company, I found out that KAIST’s startup programs helped me a lot throughout the entire process and realized that these programs are good enough for young entrepreneurs to build up their company from a single idea.”
KAIST professors and staff support student startups.
Chung took in-depth mentoring from KAIST professors. Professor Min-Hwa Lee of the Department of Management Science and Professor Lak-Kyoung Song of the Department of Technology Management, who is also the president of the Daejeon Creative Economy Innovation Center, have supported Chung’s endeavors. President Taek-Su Kang of the KAIST Innovation Center gave Chung a lot of advice as he was developing IAMCOMPANY’s initial business model. Chung said that even now, they look for solutions together when his business ran into a brick wall.
Professor Lee said, “IAMCOMPANY does not aim for profit. Instead, by supplying free applications, they improve the environment of education and eventually create public interest. Also, they find out consumers’ hidden demands and satisfied it creatively.”
With 8,000 schools registered to IAMSCHOOL, 750,000 parents are using the application in just two years of its release. Parents and teachers responded enthusiastically.
The application “IAMSCHOOL” provides services for 8,000 schools in Korea. Currently, 750,000 parents are using this application.
The company offers the nation’s largest online education service. The reason behind their rapid growth is that their service solves communications problems between schools and parents in a simple and efficient manner.
Jung-Mi Hwang, a teacher at Galma Elementary School in Dajeon, said:
“After using this application, there are fewer occasions of students forgetting their school materials. We think this is because the parents can check the school notices and newsletters at any time through the application.”
She added, “I hope more and more schools will use this application because it is convenient and also available for free.”
Another teacher from Daedeok Elementary School in Daejeon, Dong-Min Nam, said that “many parents like this application since they are immediately notified with school events.”
KAIST’s Technology Business Incubation Center
“After moving around many places due to expensive rent,” Chung said that “we finally moved into the Technology Business Incubation Center (TBIC) at KAIST. The center helped us not only providing the space, but also mentoring and connecting us with venture investment companies. This was a great help in attracting initial investments.”
Chung added:
“At first, a staff member from TBIC was concerned about the viability of my company. I was then an undergraduate student with zero business experience, and from his standpoint, I was taking a huge risk.”
But in several months after its establishment, IAMCOMPANY has grown to have 16 employees.
An investment of 1.5 billion Korean won from a venture capital company led to a sustainable growth.
In early stage, IAMCOMPANY received 300 million Korean won from a venture capital company, and it recently attracted additional 1.2 billion won from a leading venture capital. With these investments, the company grew further. Moreover, investments from large educational corporations have proved the value and competitiveness of the company in the education market.
Chung plans to expand his service globally, particularly in China and Singapore.
He said that he would not forget how he had started his business, and with such a focused mind, he would strive to provide students and parents with quality educational services while proactively incorporating the advanced information technology (IT) into his products.
A bold movement to Pangyo Techno Valley, a Korean version of Silicon Valley
Although the company started with only two members, as of August 2014, it boasts of having twenty employees, a remarkable leap of growth within just two years.
In April this year, Chung relocated his office from TBIC to Pangyo Techno Valley, the Silicon Valley of Korea, in order to provide a better work environment to his staff.
It was not an easy decision for him to leave the comfortable, well-known place, the KAIST campus, and the colleagues, including TBIC staff and KAIST professors, who had helped his startup efforts in early days. However, in order to recruit better employees and to access additional IT resources and education-related companies, Chung decided to make a bold movement, relocating his business to Pangyo Techno Valley in Seoul.
A reputable American venture capital investor, Timothy C. Draper, invested in IAMCOMPANY
Chung was able to secure solid support from an eminent global investor, Timothy C. Draper, the founder of Draper Fisher Jurvetson, a venture capital based in Menlo Park in California.
Recently, Draper, a legendary investor of the Silicon Valley, invested USD 20,000 in IAMCOMPANY. Draper discovered worldwide venture companies such as Hotmail, Skype, and Baidu. IAMCOMPANY received high marks from him as a company with a competitive edge in the global education market.
Chung met Draper in April 2014 when he participated in a television network’s (Korean Broadcasting System) audition program for startups. Draper was one of the judges for the program, and he was impressed by the robust growth of IAMCOMPANY. He eventually made a decision to chip in USD 20,000 in Chung’s company.
Chung said that he was glad to meet the tycoon of Silicon Valley who recognized the potential of his company.
In last October, IAMSCHOOL was selected for the K-APP Global Hub Program—a global market pioneering program to support the development of mobile applications—which was sponsored by the Small and Medium Business Administration in Korea.
IAMCOMPANY will bring ‘the Korean Wave’ in the area of educational applications.
Chung said, “We plan to sustainably manage the applications and add more functions, so that more educational institutions can adopt our application.”
The company aims to provide its service to over 11,000 schools and 100,000 academies nationally so that more parents are able to receive educational news and information easily.
Chung concluded his interview in an upbeat tone as he predicted the future of his company:
“I am proud that IAMSCHOOL is being recognized by the world’s best investor, and I have gained confidence to advance to the global market. Through global service, I want to make "the Korean Wave" in the field of educational applications and to receive appreciation from students, teachers, and parents worldwide.”
2014.09.04 View 9131 -
The ICISTS-KAIST International Conference from August 4-8, 2014 in KAIST Campus, Korea
"Does science lead progress?"
This thought-provoking question will be explored this summer with hundreds of university students gathered from all around the world at the campus of the Korea Advanced Institute of Science and Technology (KAIST), a leading science and technology university in Korea.
Established in 2005, the International Conference for Integration of Science, Technology and Society (ICISTS)-KAIST has been hosted every summer for Korean and international university students in Daejeon, Republic of Korea. The conference features distinguished speakers from academia, business, and public sectors and enables participants to exchange views, identify issues affecting science and society, and explore possible solutions.
The ICISTS-KAIST is the largest interdisciplinary conference in Asia. It is organized by undergraduate students of KAIST and promotes the idea of a science- and technology-integrated society through international cooperation of college students from diverse backgrounds. Last year alone, about 400 participants from 103 universities in 25 countries attended the conference.
Marking the 10th anniversary, the ICISTS-KAIST International Conference 2014 will scrutinize the fundamental aspect of scientific and technological progress versus social advancement under the theme of "Does Science Lead Progress?"
"We hope that the conference provides students with an interactive platform to look into some of the essential, yet easily neglected, questions such as the purpose of science and technology education in a broader context of social values," said Dong-Yeon Woo, President of Organizing Committee for the ICISTS-KAIST International Conference 2014.
Among keynote speakers are Langdon Winner, a professor of Science and Technology Studies at Rensselaer Polytechnic Institute, Stephen Hilgartner, an associate professor of Science and Technology Studies at Cornell University, and Steve Breyman, an associate professor of Science and Technology Studies at Rensselaer Polytechnic Institute.
Langdon Winner will speak about the fallacy of the public perception that technological innovation leads to social revolution (his presentation is entitled "The Myth of Innovation"). Stephen Hilgartner will present four aspects of the politics of vision in today's science and technology ("Science, Technology, and the Politics of Vision"), and Steve Breyman will talk about the origin of scientific deception, misrepresentation, and prevarication ("The Agnotology of Hydrofracking").
The conference lasts five days, beginning on August 4th through August 8th, 2014 at KAIST campus. For participation, regular online application opens until July 11, 2014 at http://www.icists.org.
2014.07.04 View 9182 -
Kaist expresses appreciation to a Swedish nurse served in the Korean War and donated a scholarship.
Public release date: 19-Dec-2011
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Contact: Lan Yoon
hlyoon@kaist.ac.kr
82-423-502-295
The Korea Advanced Institute of Science and Technology (KAIST)
Kaist expresses appreciation to a Swedish nurse served in the Korean War and donated a scholarship
The largest private donation ever given to KTH Royal Institute of Technology in Stockholm, Sweden, will include a scholarship for KAIST students to study there
The largest private donation ever given to KTH Royal Institute of Technology in Stockholm, Sweden, will include a scholarship for KAIST students to study there.
"I"ve never forgotten the tragedy of the Korean War that I witnessed as a nurse, even today, more than 60 years later. I"m glad to contribute to a wider cooperation in science and technology between Sweden and Korea," said the donor.
Daejeon, Republic of Korea, December 19, 2011— On Monday, December 19th, 2011 at 4:00 pm (Central European Time), at KTH Royal Institute of Technology (KTH) in Stockholm, KAIST (Korea Advanced Institute of Science and Technology) presented a plaque of appreciation to a Swedish couple, Rune and Kerstin Jonasson, whose generous donation will establish a scholarship fund for KAIST students.
In late June of 2011, the Jonassons donated 70 million Krona ($10 million USD) to KTH, the largest lump sum donation ever given to the university by an individual, and the couple requested that a portion of the money be used to promote academic interaction and collaboration with Korean universities. KTH had various student exchange programs with KAIST, and with the financial support from the Jonassons, the two universities have decided to invite KAIST students to study at KTH.
Enjoying a long tradition of excellence in higher education in Asia and Northern Europe, KAIST and KTH have continued to lead the development of science and technology through top-notch educational programs, dynamic research experiences, technological innovation, and highly skilled and motivated manpower. The two global research universities expect that the scholarship program will add another dimension to already expanding exchanges.
Kerstin Jonasson, 88 years old, came to Korea in 1951 when she was 28, and served a six-month tour of duty as a nurse in the Korean War. Recalling her past, Mrs. Jonasson said, "The calamity of the war remains deeply engraved in my mind." Ever since returning from the battlefield, she has been seeking ways to help Korea, and has thus been regularly involved in volunteer activities to strengthen bilateral relations between Korea and Sweden.
Chang-Dong Yoo, Associate Vice President of Special Projects & Institutional Relations at KAIST, thanked the couple while presenting them with the award on behalf of KAIST family including President Nam-Pyo Suh.
"We feel greatly indebted to the Jonassons, most particularly to Kerstin Jonasson, who came to Korea during the toughest time in our modern history and rendered generous humanitarian assistance to Koreans. Not only that, Mrs. Jonasson has continued to play an important role, up to today, as a "Goodwill Ambassador for Korea" in bringing the two countries closer than ever. This scholarship will provide our students with excellent opportunities to study in Sweden, the home of many great scientists, as well as to experience the robust and vibrant Nordic culture."
In response, Kerstin Jonasson said:
"I"m grateful to the Korean people who, over the past 60 years, have consistently expressed their appreciation for my work during the Korean War, and I"m really proud of the fact that they"ve made Korea a great country, reemerging from the destitution of the war as an important power of democracy and economy in the world. My husband and I hope that our donation will further enhance the strong ties forged between Sweden and Korea, and that KTH and KAIST will become the centerpiece of a mutually beneficial relationship between the two countries through the advancement of science and technology."
The details of the scholarship have yet to be finalized, but the fund is expected to be approximately 10 to 15 million Krona ($1.4~$2.1 million USD) to be spread out over five years. KAIST aims to begin sending students to KTH in the fall of 2012, and will select 10~12 graduate students for the exchange program. Since 1990, 38 KAIST students have studied at KTH, and 50 KTH students have studied at KAIST.
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2011.12.23 View 8882 -
Largest Number of Teams Selected From KAIST at 2007 LG Global Challenger Contest
Largest Number of Teams Selected From KAIST at 2007 LG Global Challenger Contest
The largest number of teams has been selected from KAIST at 2007 LG Global Challenger Contest
Despite of the record high competitive rate of 30/ 800, the largest number of teams has been selected from KAIST at 2007 LG Global Challenger Contest.
LG Global Challenger Contest is an exploration program where undergraduate and graduate students perform explorations on their own schedules and share the results with the public online.
Thus far, about 1,500 students from 410 teams have participated in the contest, and the contest is now regarded as the most representative overseas exploration program among university students, showing the average competitive rate of 1/ 20.
Exploration teams are selected by thorough examination and the members of selected teams have to complete the preliminary education program. The exploration teams will perform two-week overseas exploration on their own schedule during the summer vacation and their exploration activities will be relayed through the official web site of the contest by the designated team for online relay.
The exploration teams are obliged to submit the result reports, and the winners of the prize for good reports will be granted scholarship and employment privileges. The followings are the selected teams from KAIST:
Name: U-rekaTopic: U-Eco City, Advanced city where nature and human are well harmonizedMembers: A-Chim Chang (Department of Civil and Environmental Engineering)Hyuk-Il Cho (Department of Computer Sciences)Jung-Hyun Hong (Department of Industrial Engineering)Seung-Kyun Ryu (Department of Computer Sciences)
Name: TWIMTopic: The trend of unmanned ground vehicle development and its influence on unmanned societyMembers: Moon-Jung Byun (Department of Mechanical Engineering)Joon-Seok Park (Department of Electrical Engineering)Hye-Sun Hyun (Department of Electrical Engineering)Jong-Hoon Kim (Department of Electrical Engineering)
Team Impediment-free ODATopic: Future way of Korean ODAMembers: Joon-Youn Kim (Department of Industrial Engineering) Jae-Min Kim (Department of Industrial Engineering)Yoon-Jung Choi (Department of Industrial Engineering)Seul-Ki Lee (Department of Industrial Engineering)
2007.06.12 View 15564