entrepreneurs
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KAIST Startups Annually Engage 33,000 People, and Their Sales Total Nearly 10 Billion Dollars
According to a recent study, KAIST startups annually engage 33,000 people, and their sales total nearly 10 billion US dollars. Also amongst 1,245 companies, 50 were listed in stock markets including KOSDAQ and KONEX. President Kang of KAIST commissioned an evaluation of KAIST startups last year. The report consisted of six chapters: current status of entrepreneurs and companies, cross analysis based on individuals’ background and academic degree, annual performance analysis, and current status of startup assistance.
The report categorized the startups with respect to the founders’ background. Of 1,245 companies, KAIST alumni founded 929 (74.6%) of the companies under study: 191 (15.3%) were located within the KAIST campuses, 91 (7.3%) were founded by enrolled students, and 74 (2.7%) by professors. The startup founders had different levels of education: 515 (41.4%) founders had master’s degree, 443 (35.6%) Ph.D. degree, and only 213 (17.1%) had only bachelor’s degree as the highest level of education attained. The reason behind the majority of founders having a master’s degree or higher degree is that many people established a startup after obtaining specialized knowledge and skills.
Focusing on the founders’ college majors, 719 (70.6%) founders were from the engineering department, 111 (10.9%) from the business administration department, 103 (10.1%) from the natural science department, and 86 (8.4%) from other departments. Looking at the companies' locations, 462 (37.5%) were placed in Seoul, 355 (28.8%) in Daejeon, and 273 (22.2%) in Gyeonggi.
By the end of 2013, the total asset of 1,069 companies came to 12 billion and 444 million dollars. Their total sales figure was 10 billion and 13 million dollars, and annual employments summed up to 33,000 people. The companies generated a significant portion of gross regional domestic product (GRDP) in each region. They formed 0.49% of GRDP of Seoul, took up 1.67% GRDP of Gyeonggi, and 5.53% of that of Daejeon.
Along with the performance analysis, the report also took a survey of suggestions on future startup assistance and opinions on current startup assistance policies. To a question asking what constituted the most difficult part of startup, 31.7% of respondents answered “attraction of investment,” 22.8% chose “a lack of human resources,” and 16.8% said “consulting” amongst 214 respondents. The study showed that major and medium enterprises face difficulty in finding human resources whereas small businesses experience obstacles attracting investment. Some startups had help from KAIST: 44 startups were provided with the office space, 21 had educational supports, and 18 were supported in research and development.
The report demonstrates that startups established by KAIST alumni and members play a key role in the South Korean economy despite KAIST’s short startup history, which began only since the end of 1990s. Based on this report, KAIST plans to listen continuously to the needs of alumni founders, and use those responses as a guide to entrepreneurship education for current students.
The Dean of the Office of University and Industry Cooperation, Joongmyeon Bae, who oversaw the publication of this report, said, "As this report is the first in Korea to study the status of alumni startups, it will be incredibly valuable in modifying the startup assistance policies.”
To spread an entrepreneurial spirit and start-up cultures in the campus and enhance the startup supporting system, KAIST has founded various startup centers on and off the campus.
2015.07.14 View 7505 -
KAIST and Audi Korea Sign a Memorandum of Understanding to Establish a Startup Incubator
For the next five years, Audi Korea will provide USD 250,000 for the startup program.
KAIST recently signed a memorandum of understanding (MOU) with Audi Korea to establish a student-led startup program, the Audi-KAIST Innovation Lounge, to promote design and product development on May 19, 2015, at the KAIST Institute of Entrepreneurship on campus.
Directed by Professor Sang-Min Bae of the Industrial Design Department (IDD), the Audi-KAIST Innovation Lounge will operate a global business incubator where IDD undergraduate and graduate students cultivate their entrepreneurship skills and explore business opportunities to develop commercially-applicable product designs. Audi Korea will invest USD 250,000 in the Innovation Lounge project for the next five years.
Students will receive support from the Lounge to turn their ideas, class assignments, and graduation theses into business products through a full cycle of the product development process such as inquiry, prototype development, and commercialization. The Lounge will also provide students with mentoring services from industry professionals and experts who can assist the students in finding design solutions and building prototypes using 3D printers.
The Dean of IDD, Kun-Pyo Lee, said, “Audi has been known for its initiatives which blend technological innovations into design. Likewise, our department offers students an integrative approach to design education and research which incorporates human factors and technology as important features in the design process. I believe that the Audi-KAIST Innovation Lounge will help us lead such efforts in the future.”
Professor Bae added, “This MOU is quite significant because it shows an excellent collaboration between academia and industry. Ideas created in universities should not be left to languish as just an idea or research. Rather, they should be utilized as ways to serve the needs of our society, and to do so, it is important for the government and companies to pay more attention to these interactions taking place between academia and private sectors.”
The Head of Marketing at Audi Korea, Jorg Dietzel, said, “As seen in our corporate slogan, "Advancement through Technology," Audi has grown through numerous technological innovations. I hope Audi Korea can contribute to the support of KAIST students from the Industrial Design Department to realize their dreams as future entrepreneurs and bring more innovative ideas to their field.”
Picture: Jorg Dietzel (fifth from the left), the Head of Marketing at Audi Korea, and Kun-Pyo Lee (sixth from the left), the Dean of Industrial Design Department, KAIST, pose together right after signing an agreement to create the Audi-KAIST Innovation Lounge on May 19, 2015.
2015.05.22 View 8429 -
Jong Hoon Kim, a former president of Bell Labs, speaks at KAIST
Dr. Jong-Hoon Kim, who was the youngest person to serve as the President of Bell Labs and selected as one of the ten most influential Asian-Americans, will give a lecture at KAIST at 5 pm on April 28, 2015 in the KI building.
In 1992, Dr. Kim founded a telecommunication company, Yurie System. After listing the company on NASDAQ, he sold the company to Lucent Technologies for USD one billion. Dr. Kim served as the President of Lucent Technologies, taught as the University of Maryland, and subsequently served as the President of Bell Labs. He is currently the President of Kiswe Mobile.
In his lecture entitled “Aim High, Take Action,” Dr. Kim will share his personal stories and speak about ways young people can set goals for future and put those into practice. He will focus on his experiences in the United States to list his own company, Yurie System, on NASDAQ and to sell the company as well as the management innovations, which he brought about during his presidency at Bell Labs.
KAIST and Kiswe Mobile have been cooperating on a project, "Global Entrepreneurship by Doing," since 2014 to foster entrepreneurship in Korean youth. While working for Kiswe Mobile in the United States, KAIST students will have an opportunity to conduct project management, market research, and marketing, and to build local networks.
The details of the program can be found on the website of the KAIST Center for Science-based Entrepreneurship, http://eship.kaist.ac.kr.
2015.04.27 View 5727 -
KAIST President Held One-year Anniversary Press Conference
President Steve Kang had a press conference
on February 25, 2014 at the Faculty Club on campus, commemorating the first
year of his presidency. About 30 different media representatives nationwide
attended the meeting.
At his first press conference on the anniversary of his tenure, President Kang
described what he has achieved in the past year, which were: 1) rebuilding the
campus culture to start a campaign for mutual respect, trust, and open
communication by holding meetings with the members of the KAIST community more
than 60 times, 2) establishing core values, creativity and challenge, to
enhance the fabric of the community, 3) restructuring of the university
administration, and 4) the announcement of the mid- and long-term development
plan.
He also mentioned that “2014 will be another exciting year for KAIST to make
more progress” and laid out a few major projects to be implemented this year:
launching of the “Committee for Engineering Education Innovation,” “Startup
KAIST” (an entrepreneurship program), “Greater Collaboration in Technology
Translation and Management with Seoul National University,” and “KAIST End Run”
(a global business incubation program).Explanation of 2014 Major Endeavors by President KangFor
the past decade, domestic engineering schools weighed SCI dissertation
publication more heavily in university evaluations, yielding a world-class
research level. However, such an approach resulted in placing less importance
on entrepreneurship, commercialization, or creating economic values.As a
result, engineering Professors have been evaluated as being too focused on theoretical
SCI dissertation research rather than practical research that could yield
economic benefits through commercialization of developed technology. In
addition, some have criticized that engineering universities have not educated
creative researchers demanded by the industry.KAIST
has begun responding to these criticisms and has made a few suggestions to strengthen
engineering education, promote entrepreneurship in engineers, and globalize Korean
venture companies.As
part of such efforts, KAIST established the KAIST Education and Research
Innovation Committee, composed of various individuals from the industry,
research institutes, alumni, faculty members, and others, to discuss ways to reinforce
engineering education.
A
course to encourage entrepreneurship will be implemented.Startup
KAIST will develop and commercialize innovative ideas from members of KAIST, and
the End Run project will enable students and faculty to establish a global,
venture company. KAIST hopes that a new entrepreneurial culture will be created
on campus, thereby the research success of KAIST members will lead to commercialization
and startups.KAIST
plans on releasing free internet lectures as part of its knowledge contribution
and sponsoring programs which will level the playing field in eduation.KAIST
will establish the KAIST Open Online Course (KOOC). An entrepreneurship
curriculum will be developed for KOOC. KAIST will start trials for KOOC from
2015, gradually expanding to include more courses.
2014.02.27 View 8571 -
KAIST Hosted the 6th International Presidential Forum on Global Research Universities
More than 120 global leaders from higher education, private and public sectors, to discuss the promotion of economic growth through knowledge creation and entrepreneurship
The Korea Advanced Institute of Science and Technology (KAIST) held the 6th International Presidential Forum on Global Research Universities (IPFGRU) on October 15th at the Westin Chosun Hotel in Seoul, Republic of Korea.
About 64 presidents and vice presidents from 57 research universities in 28 nations attended for a presentation and panel discussion on the topic of “The Role and Responsibility of Research Universities: Knowledge Creation, Technology Transfer, and Entrepreneurship.”Annually held, the forum is organized to promote excellence and innovation in higher education and provide a place for discussion among prominent research university leaders and key policy-makers in the private and public sectors from across the world.Among the notable universities attending the 2013 forum were the University of California, Irvine, the École Polytechnique Fédérale de Lausanne, Technische Universität Berlin, Technion-Israel Institute of Technology, Tokyo Institute of Technology, Rice University, the University of Waterloo, and Massachusetts Institute of Technology (MIT). Government officials as well as representatives from business and industry such as Samsung Electronics, Korea Telecom, and Elsevier also joined the event.
The forum was proceeded with three separate sessions: Enabling Knowledge Creation, Entrepreneurship & University-Based Technology Transfer, and Higher Education & Strategic Knowledge Creation: Specialization & Performance, through which speakers and panelists examined how universities have played a role in knowledge creation and technology transfer, and ultimately how they have contributed to the development of national economies.
Keynote speakers were Michael Drake, chancellor of UC Irvine, and Jörg Steinbach, president of Technische Universität Berlin. Forum participants shared their experiences and insights in starting up knowledge- and technolgy-based new businesses.
Steve Kang, president of KAIST, talked about the purpose of the 2013 IPFGRU:
“In the face of an ever-changing economic climate driven by shifts in technological advancement, demographic trends, and global integration, the role of research universities is becoming ever more significant in achieving sustainable economic growth. This forum will help participants from around the world to define the choices ahead as universities seek the most productive and beneficial models for cooperation with industry, venture startups, and government.”For the 2013 IPFGRU, Ministry of Science, ICT, and Future Planning, ROK, Saudi Aramco, Samsung Heavy Industries, S-Oil, Elsevier, Thomson Reuters, and the Korea Economic Daily were forum sponsors.
2013.11.04 View 9516 -
Opening Ceremony Held on February 3, 2010 for Intellectual Property Training Center
KAIST Opened Training Center for Young Entrepreneurs
Commissioner Jung-Sik Koh of Korean Intellectual Property Office (KIPO) and KAIST faculty members including Soon-Hong Jang, Vice President of Operations and Kwang-Hyung Lee, Dean of Academic Affairs Office, joined an opening ceremony held on February 3rd, 2010 to launch a training center for the next generation entrepreneurs who will lead the intellectual property (IP) industry in Korea.
The training center was built in cooperation with KIPO to educate and support young entrepreneurs and prepare them to become tomorrow’s IP business leaders like Bill Gates of Microsoft and Google’s founders, Larry Page and Sergey Brin.
Going through a vigorous selection process, a total of 101 students (51 for intermediate and 50 for advanced level) were chosen last December for an orientation program that will begin February 3rd and continue through February 5th. In addition to the training center at KAIST, KIPO supported to launch another training center at the Pohang University of Science and Technology (POSTECH), which has been up and running since January 27th, 2010.
2010.02.04 View 12553 -
KAIST Chong-Moon Lee Library Opens
KAIST Chong-Moon Lee Library Opens
Jong-Moon Lee Library, management education library for scientists possessing the biggest amount of entrepreneurship data in Asia, opens in KAIST (President Nam-Pyo Suh) on Thursday, November 9, 2006.
Jong-Moon Lee Library was planned when Jong-Moon Lee, Chairman of AmBex, donated 2 million dollar to KAIST and founded Entrepreneurship Research Center at KAIST in 2004. Chairman Lee emphasized on the necessity of management education for scientists of advanced technology-based venture companies and set the management plan for Jong-Moon Lee Library securing the biggest amount of Entrepreneurship data in Asia.
Jong-Moon Lee Library possesses books for inspiring entrepreneurship, including ▲ books regarding how to prepare and evaluate business plans that support the realization of business ideas such as venture company founding, etc. ▲ administrative books necessary for company management such as leadership and finance, accounting, etc. ▲ economic books that foster reader’s insight over economy and society. The number of books is about 4,900 and various journals including Harvard Business Review are also provided.
KAIST Entrepreneurship Research Center (President Tae-Yong Yang) is now carrying out ▲ the management of entrepreneurship library for Engineering students and businessmen ▲ programs for entrepreneurship education and venture-company founding ▲aid for business plan forums and academic conferences. It benchmarks Stanford Technology Venture Program (STVP) of Stanford University, which is evaluated the most excellent program in researches and realization of entrepreneurship, and manages education programs for scientific manpower with international managing minds on the basis of world’s best capabilities in scientific researches and education of KAIST.
President Yang explained about the management plan by saying, “Following Chairman Jong-Moon Lee’s intention, the center will educate entrepreneurship to engineering students and properly diagnose initial values of excellent technologies, thereby making venture companies flourish.”
2006.11.16 View 14622