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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 10340 -
ASPIRE League 2014: E-Olympics among Five Asian Universities
About 150 undergraduate students from five leading science and technology (S&T) universities in Asia met at the KAIST campus to attend the E-Olympics on August 7-9, 2014.
The E-Olympics began as a student exchange conference held under the Asian Science and Technology Pioneering Institutes of Research and Education (ASPIRE) League, which offers a variety of events, such as workshops, sports matches, lab visits, special lectures, and art performances, to promote academic and research collaborations and cultural sharing between the students of the league member universities.
Founded in 2009, the ASPIRE League is a university consortium consisted of five top S&T universities in Asia: KAIST in Korea, the Hong Kong University of Science and Technology (HKUST) and Tsinghua University in China, Nanyang Technological University (NTU) in Singapore, and Tokyo Institute of Technology (Tokyo Tech) in Japan. The ASPIRE League aims to provide a knowledge and technology hub for innovation in Asia through the advancement of science and technology and the development of human resources.
Since its start, the ASPIRE League has been holding an annual conference with programs for research collaboration, student exchange, educational cooperation, and satellite laboratories among professors, senior managers, and students of the member universities. This year, however, the consortium decided to dedicate the conference to students by holding the E-Olympics.
Each university sent 30 students to KAIST for the participation of the E-Olympics. For three days, participating students engaged in discussions and presentations at academic workshops; held athletic games including a relay race, basketball, and a rowing race; and toured a few KAIST laboratories, among them: the E-mobility Research Center, the Bio-imaging and Cell Signaling Research Center, the Mechatronics Systems and Control Center, and the Center of Field Robotics for Innovation, Exploration and Defense.
The students also attended a music concert performed by a KAIST student club and a lecture entitled “Entrepreneurship through Global Networking” that emphasized the importance of personnel networking in transferring technological innovation into business opportunities.
Chang-Dong Yoo, the Dean of the International Office at KAIST, said, “The E-Olympics will offer students from top science and technology universities in Asia opportunities to interact with each other on a more personal level. I hope that through many of the E-Olympics programs, the students will learn about each other’s culture and academic strength and develop a sense of community to create a “New Asia” by working together.”
2014.08.11 View 13267 -
2014 NEREC Conference on Nuclear Nonproliferation: July 31-August 1, 2014, Seoul
The Nonproliferation Education and Research Center (NEREC) at KAIST hosted an international conference on nuclear nonproliferation on July 31-August 1, 2014 in Seoul. The Ministry of Science, ICT and Future Planning, the Korean Nuclear Safety and Security Commission, and the Korea Nuclear Policy Society (KNPS) sponsored the event.
Over one hundred experts and "thought leaders" in nuclear security and nonproliferation attended the conference and discussed issues related to the nonproliferation of nuclear weapons, the role of scientific community in mitigating nuclear threat and promoting the peaceful use of nuclear power, and nuclear disarmament policy.
Keynote speakers were: Steven E. Miller, Director of International Security Program at Belfer Center for Science and International Affairs, Harvard University; Scott D. Sagan, Senior Fellow of the Center for International Security and Cooperation, Freeman Spogli Institute for International Studies, Stanford University; Mark Fitzpatrick, Director of the Nonproliferation and Disarmament Programme, International Institute for Strategic Studies; Sang-Hyun Lee, Director of Security Strategy, Sejong Institute; and Man-Sung Yim, Professor of Nuclear and Quantum Engineering, KAIST.
At the conference, Professor Yim, Director of KAIST NEREC said, “Korea has grown to become a key player in the development of commercial nuclear energy over the past decades. We hope that our conference encourages Korea to be more involved in the efforts of the international community to enhance the global nonproliferation regime.”
2014.08.05 View 14500 -
The Journal of Clinical Investigation: Researchers Uncover the Secret Lymphatic Identity of the Schlemm's Canal
The Journal of Clinical Investigation (JCI), a peer-reviewed, top-tier medical journal published by the American Society for Clinical Investigation, carried a commentary entitled “Schlemm’s Canal: More Than Meets the Eye, Lymphatics in Disguise” in the July 25, 2014 issue.
In the commentary, the authors compared a research paper (“Lymphatic regular PROX1 determines Schlemm’s canal integrity and identity”) by Professor Gou-Young Koh of the Graduate School of Medical Science and Engineering at KAIST with research work from the University of Helsinki (article entitled “The Schlemm’s canal is a VEGF-C/VEGFR-3 responsive lymphatic-like vessel”).
The JCI released a press statement dated July 25, 2014 on its commentary. It mentioned that glaucoma, one of the leading causes of blindness worldwide, elevates eye pressure owing to poor drainage of aqueous humor. A specialized structure called “Schlemm’s canal” funnels aqueous humor from the eye back into circulation, which is critical to prevent pressure buildup in the eye. The article discussed the role of Schlemm’s canal in the context of lymphatic vascular characteristics by reviewing two research group’s papers back-to-back.
For the full text of the press release, please visit the link below:
Press Release from the Journal of Clinical Investigation, July 25, 2014
“Researchers uncover the secret lymphatic identity of the Schlemm’s canal”
http://www.eurekalert.org/pub_releases/2014-07/joci-rut072414.php
2014.07.28 View 8664 -
Professor Kyu-Young Whang Receives Contributions Award from ACM SIGMOD
Kyu-Young Whang, Distinguished Professor of Computer Science at KAIST, was the recipient of the 2014 ACM SIGMOND Contributions Award.
Founded in 1947, the Association for Computing Machinery (ACM) is the world’s largest educational and scientific computing society, delivering resources that advance computing as a science and profession.
SIGMOD is the Association for Computing Machinery’s Special Interest Group on Management of Data, which specializes in large-scale data management problems and databases.
Since 1992, ACM SIGMOND has presented the contributions award to one scientist who has made significant contributions to the field of database systems through research funding, education, and professional services. So far, 23 people including Professor Whang have received the award.
Professor Whang was recognized for his key role in the growth of international conferences and journals in the field of databases such as The VLDB Journal (The International Journal on Very Large Data Bases), VLDB Endowment Inc., IEEE Technical Committee on Data Engineering, and Database Systems for Advanced Applications (DASFAA). IEEE stands for the Institute of Electrical and Electronics Engineering.
For the full list of ACM SIGMOND Contributions Award recipients, please go to
http://www.sigmod.org/sigmod-awards/sigmod-awards#contributions.
2014.07.15 View 9427 -
Professor Min Hyuk Kim Appointed an Associate Editor on ACM Transactions on Graphics
Professor Min Hyuk Kim of KAIST's Computer Science Department has been appointed an associate editor for a prestigious international journal in the field of graphics, ACM Transactions on Graphics (TOG).
Founded in 1947, the Association for Computing Machinery (ACM) is the world’s largest educational and scientific computing society, delivering knowledge that advances computing as a science and profession.
Published during the past 35 years, ACM TOG is a highly regarded, peer-reviewed scientific journal that aims to disseminate the latest findings of research in computer graphics. Professor Kim is the first Korean scholar to serve the journal as an editor.
Professor Kim’s responsibilities are many, and they include selecting appropriate reviewers for submitted manuscripts to be published in the journal and reporting the results of review process.
He said, “The appointment was a great honor, and I’m looking forward to having the opportunity to make further contributions to the advancement of the graphics field.”
Professor Kim has published numerous papers on computer graphics with a focus on research in 3D imaging spectroscopy and visual perception.
2014.07.14 View 10574 -
Artificial Antibody-based Therapeutic Candidate for Lung Cancer Developed
Professor Hak-Sung Kim of Biological Sciences at KAIST publishes a cover article on artificial antibody in "Molecular Therapy".
Repebody-based lung cancer therapeutic drug candidate developed Repebody-based protein demonstrates the possibility of the development of a new drug
KAIST Biological Sciences Department’s Professor Hak-Sung Kim, in collaboration with Professor Eun-Kyung Cho from the College of Medicine at Chungnam National University, has successfully developed an artificial antibody-based, or repebody, cancer therapeutic candidate. These research results were published as a cover paper of the July edition of Molecular Therapy.
The repebody developed by Professor Kim and his team strongly binds to interleukin-6, a cancer-causing factor. It has also been confirmed that the repebody can significantly inhibit the proliferation of cancer cells in non-small-cell lung cancer animal model.
Numerous multinational pharmaceutical and biotechnology companies have invested astronomical amounts of money in research for the development of protein therapeutics with low side effects and high efficacy. More than 20 kinds of such therapeutics are currently under clinical trials, and over 100 drugs are under clinical demonstration. Among these, the majority is antibody-based therapeutics, and most of the investments are heavily concentrated in this field. However, antibody production cost is very high because it has large molecular weights and complex structural properties, and this makes it difficult to engineer. Consequently, the development costs a great deal of time and money.
In order to overcome the existing limitations of antibody-based therapeutics, Professor Kim and his team have developed a new artificial antibody, or repebody, which was published in Proceedings of the National Academy of Sciences (PNAS) in 2012. Based on this research, they have succeeded in developing a therapeutic candidate for treating non-small-cell lung cancer with a specifically strong cohesion to the cancer-causing factor, interleukin-6.
Interleukin-6 is a crucial substance within the body that is involved in immune and inflammatory-related signals. When abnormally expressed, it activates various carcinogenic pathways and promotes tumor growth and metastasis. Because of its importance, multinational pharmaceutical companies are heavily investing in developing therapeutics that can inhibit the signaling of interleukin-6.
In this study, Professor Kim and his team observed that a repebody consists of repeated modules, and they conceived a module-based affinity amplification technology that can effectively increase the binding affinity with the disease target. The developed therapeutic candidate has been confirmed in cell and animal experiments to show low immunogenicity, as well as to strongly inhibit the proliferation of non-small-cell lung cancer.
Furthermore, by investigating the complex structure of the repebody with interleukin-6, Professor Kim has identified its mechanism, which demonstrated the potential for therapeutic development. The researchers are currently carrying out pre-clinical trials for acquiring permission to perform clinical trials on animals with non-small-cell lung cancer. The repebody can be developed into a new protein drug after demonstrating its safety and efficacy.
Professor Hak-Sung Kim and his team have confirmed that the repebody can be utilized as a new protein drug, and this will be a significant contribution to Korea’s protein drugs and biotechnology industry development.
The research was supported by the Future Pioneer Industry project and sponsored by the Ministry of Science, ICT and Future Planning.
Figure 1. Professor Kim’s article published as the cover article of July edition of Molecular Therapy
Figure 2. Clinical proof of the repebody’s inhibition of cancer growth using animal models
2014.07.14 View 13436 -
Opening of "Education Donation Center" for Knowledge Sharing
KAIST is a leader in knowledge-sharing services for the educationally underprivileged. KAIST held the opening ceremony of the Education Donation Center at its Munji Campus on July 4, 2014 and was appointed as a “2014 Chungcheong-Gangwon province model local education donation center” sponsored by the Education Ministry of Korea and Korea Foundation for the Advancement of Science and Creativity.
The Education Donation Center (EDC) will integrate programs run by the Chungcheong-Gangwon province education donation organizations and introduce them to local chapter organizations. The EDC will recommend new donation organizations to the organizations in need. To ensure efficient donation, the EDC will consult programs of donation organizations. The EDC will also suggest regionally suitable education donation programs. KAIST will provide three staff members, six graduate students, and one to manage the career counselor to the center.
Joo-Sung Lee of the Business & Technology Management Department is the professor in charge of the EDC. He explained, “The center is the medium between the newly participating education donation organizations and the demand organizations. I will invest every effort to provide high-quality educational benefits to educationally underprivileged people."
KAIST has also been running an education service group called ‘Midam Scholarship’, an online education donation group called ‘Chalk’, and science camp programs for youth to establish the sharing and collaboration culture of KAIST.
2014.07.10 View 9511 -
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 10078 -
Professor Haeng-Ki Lee appointed as "ICCES Distinguished Fellow"
Professor Haeng-Ki Lee
Professor Haeng-Ki Lee from the Department of Civil and Environmental Engineering at KAIST has been appointed as “Distinguished Fellow” and has also received the “Outstanding Research Award” at the International Conference on Computational & Experimental Engineering and Sciences (ICCES).
Founded in 1986, ICCES is regarded as one of the most prestigious international conferences in the field of computational mechanics and experimental engineering.
The Nominating Committee at ICCES recommends the appointment of a distinguished member who has made significant contributions to the development of computational mechanics and experimental engineering. Professor Lee was the first Korean who received such title. Furthermore, he was the recipient of the “Outstanding Research Award” presented by ICCES for his academic research on damage mechanics of complex systems.
Professor Lee is currently serving as the Head of the Department of Civil and Environmental Engineering at KAIST and the Director of BK Plus Agency, a Korean government’s research program. He received an award from the Minister of Science, ICT and Future Planning in 2013 for the promotion of science and technology.
2014.07.02 View 11991 -
JEROS, a jellyfish exterminating robot, appears in a US business and technology news
Business Insider, a US business and technology news website launched in 2006 and based in New York City, published a story about JEROS, a robot that disposes of ever-increasing jellyfish in the ocean.
JEROS was the brainchild of Professor Hyun Myung at the Department of Civil and Environmental Engineering, KAIST. It can shred almost one tons worth of jellyfish per hour.
For the story, please visit the following link:
Business Insider, June 24, 2014
“These Jellyfish-Killing Robots Could Save the Fishing Industry Billions Per Year”
http://www.businessinsider.com/jellyfish-killing-robot-2014-6
JEROS in action
2014.06.26 View 9392 -
Forbes Asia: 48 Heroes of Philanthropy
Mun-Sul Jeong
Hui-Jeong Park
Forbes Asia, an American business magazine covering the latest news on Asian markets, politics, business, and finance, announced the list of 48 philanthropists in the Asia-Pacific region in its July 21, 2014 issue.
Four Koreans made the list: Mun-Sul Jeong (a former chairman of KAIST's Board of Trustees), Hui-Jeong Park (a wife of the late Dr. Geun-Chul Ryu, a philanthropist who gave the funds to build the Sports Complex in KAIST campus), Yuna Kim (a former Olympics figure skater and a gold and silver medalist), and Nam-Kyu Min (the chairman of JK Group, a plastics and petrochemical products manufacturer).
Mun-Sul Jeong, the founder of Mirae Corp., a semiconductor equipment manufacturing company, donated $21 million to KAIST for brain science research this year. He also donated $235 million to KAIST in 2001 for convergence research in information and business technology.
Hui-Jeong Park, a former professor of nursing at Korea University, endowed a $100,000 scholarship fund for KAIST students in January 2014. Her late husband, Dr. Geun-Chul Ryu, contributed over $55 million in real estate to KAIST, allowing the university to have a new sports facility. He was an eminent doctor of Oriental medicine in Korea and also served as a professor at KAIST.
For more, please click on the link below:
Forbes Asia, July 21, 2014
“48 Heroes of Philanthropy”
http://www.forbes.com/sites/johnkoppisch/2014/06/25/48-heroes-of-philanthropy-3/
2014.06.26 View 9723