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2023 Global Entrepreneurship Summer School in Silicon Valley Successfully Concluded
< 2023 Silicon Valley Global Entrepreneurship Summer School Participants > The 2023 KAIST Global Entrepreneurship Summer School (GESS) was successfully held. Co-hosted by the Center for Global Strategies and Planning (GSP) (Director Man-Sung Yim) and the Startup KAIST (Director Hyeonmin Bae), the 2023 KAIST GESS was the second one of the summer programs, repeating the Silicon Valley global entrepreneurship bootcamp of 2022 (2022 GESC), based on industry-academia collaboration. This program was designed to provide students with the opportunity to visit Silicon Valley, the global hub of entrepreneurship, and personally experience the Silicon Valley culture while developing human networks that would serve as a foundation for their overseas startup development. A total of 20 participants were selected earlier this year, including potential KAISTian entrepreneurs and early-stage entrepreneurs from KAIST within one year of incorporation. In particular, a number of foreign students of various nationalities such as Vietnam, Azerbaijan, Honduras, Indonesia, Philippines, and Kazakhstan, increased significantly, demonstrating the enthusiasm for entrepreneurship across national boundaries along with the program's growing international status. This year's event was also open to 20 Impact MBA and Social Entrepreneur (SE) students from KAIST's College of Business for the Silicon Valley program. For the past two months, the participants have trained on business model development and pitching at KAIST's main campus in Daejeon. From June 21st to the 30th, they visited the campuses of leading universities, such as, Stanford University, UC Santa Cruz, and UC Berkeley, as well as KOTRA Silicon Valley Trade Center (Manager Hyoung il Kim), and local alumni companies and Apple company to experience the global technology startups. The start-ups by KAIST alums including B Garage (CEO Aiden Kim), ImpriMed (CEO Sungwon Lim), Medic Life Sciences (CEO Kyuho Han), and VESSL AI (CEO Jaeman Ahn) participated in the program and gave lectures and company tours to inspire the participants to have passion to take on the entrepreneurial endeavors and challenges. On the last day, the participants gave presentations on their team’s business items in front of local venture capitalists in Silicon Valley. After receiving continuous coaching from Silicon Valley's professional accelerators through remote video conferencing and face-to-face mentoring for the last two months, the participants developed their business models and presented their creative and innovative ideas, revealing their potential as future global entrepreneurs. At the final competition, Team Sparky that developed “Snoove” won the first prize. Snoove is a scientifically-proven mattress accessory that applies mild vibration to the mattress to aid users in achieving better sleep, a method previously used to soothe infants. < GESS Pitching Day Presentation > Kevin Choi from the Team Sparky said, "Seeing and experiencing the realities of entrepreneurship in Silicon Valley, a global startup scene, made me think about the importance of unlearning, challenging, and failing to be a global entrepreneur who contributes to our society." Man-Sung Yim, the Associate Vice President of the International Office, who organized the event added, "Through this experience, we expect KAIST students to grow to become global leaders who would create global values and enhance the international reputation of our university." Meanwhile, the GSP and Startup KAIST commented that they will to continue to develop the KAIST GESS program to foster prospective entrepreneurs who can compete in the global market based on the success of this program.
The 1st Global Entrepreneurship Summer Camp bridges KAIST and Silicon Valley, US
Twenty KAIST students gave a go at selling their business ideas to investors at Silicon Valley on the “Pitch Day” at 2022 Global Entrepreneurship Summer Camp. From Tuesday, June 21 to Monday, July 4, 2022, KAIST held the first Global Entrepreneurship Summer Camp (GESC). The 2022 GESC, which was organized in collaboration with Stanford Technology Ventures Program (STVP), KOTRA Silicon Valley IT Center, and KAIST Alumni at Silicon Valley, was a pilot program that offered opportunities of experiencing and learning about the cases of startup companies in Silicon Valley and a chance to expand businesses to Silicon Valley through networking. Twenty KAIST students, including pre-startup entrepreneurs and students interested in global entrepreneurship with less than one year of business experience were selected. The first week of the program was organized by Startup KAIST while the second week program was organized by the Center for Global Strategies and Planning (GSP) at KAIST in collaboration with the Stanford Technology Venture Program (STVP), KAIST Alumni at Silicon Valley, and KOTRA at Silicon Valley. Dr. Mo-Yun Lei Fong, the Executive Director of STVP, said, “The program offered an opportunity for us to realize our vision of empowering aspiring entrepreneurs to become global citizens who create and scale responsible innovation. By collaborating with KAIST and offering entrepreneurial insights to Korean students, we are able to have a positive impact on a global scale.” Mo added, “The program also enabled STVP to build bridges, learn from the students, and refine our culturally relevant curriculum by understanding Korean culture and ideas.” On the “Pitch Day” on July 1, following a special talk by Dr. Chong-Moon Lee, the Chairman of AmBex Venture Partners, the students presented their team business ideas such as an AI-assisted, noise-canceling pillow devised for better sleep, a metaverse dating application, an XR virtual conferencing system, and an AI language tutoring application to the entice global investors’ curiosity. The invited investors, majorly based in Silicon Valley, commented that all the presentation was very exciting, and the level of pitches was beyond the expectation considering that the students have given only two weeks. Ms. Seunghee Lee of the team “Bored KAIST Yacht Club”, which was awarded the first prize, explained, “our item, called ‘Meta-Everland’, is a service that offers real-time dating experiences similar to off-line dates. The GESC taught me that anybody can launch a startup as long as they are willing. Developing a business model from ideation and taking it to the actual pitching was challenging, but it was a very thrilling experience at the same time.” Lee added, “Most importantly, over the course of the program and the final pitch, I found out that an interesting idea can attract investors interest even at a very early stage of the launching.” Mr. Byunghoon Hwang, a student who attended the program said, “Having learned the thoughts and attitudes the people at the front line of Silicon Valley, my views on career and launching of a start-up have been expanded a lot.” Ms. Marina Mondragon, another attendee at the program, also said that the program was very meaningful because she was able to learn the difference between the ecosystem for the new start-up businesses at Korea and at Silicon Valley through her talks with the CEOs at Silicon Valley. The program was co-organized by the Center for Global Strategies and Planning at KAIST International Office and Startup of KAIST. Dr. Man-Sung Yim, the Associate Vice President for KAIST International Office, who guided students in Silicon Valley, said, “I believe the GESC program broadened the views and entrepreneurial mindset of students. After joining this program, students stepped forward to become a founder of startups.” In addition, Dr. Young-Tae Kim, the Associate Vice President of the Institute for Startup KAIST, addressed “Startup KAIST will support business items founded via the program through various other programs in order to enhance their competitiveness in the global market.” The GSP and Startup KAIST will continuously revamp the program by selecting distinguished fellows to join the program and coming up with innovative startup items. Profile: Sooa Lee, Ph.D. Research Assistant Professor firstname.lastname@example.org Center for Global Strategies and Planning Office of Global Initiatives KAIST International Office https://io.kaist.ac.kr Korea Advanced Institute of Science and Technology (KAIST)Daejeon, Republic of Korea
KAIST Entrepreneurial Partnership to Accelerate Startups and Venture Ecosystem
KAIST will launch the KAIST Entrepreneurial Partnership (KEP) program, which connects faculty members who own technology with those who want to launch startup. The program encourages open innovation startups using strategies tailored to market-client demand requirements. This is also one of efforts to help realize ‘one startup per lab,’ initiated by President Kwang Hyung Lee’s new innovation strategy. KEP also aims to introduce the best technologies developing at KAIST to startups and to raise the success rate of technology commercialization. The program will match KAIST faculty and student entrepreneur candidates with parties enrolled in the new Entrepreneur in Residence and Entrepreneurial Partner programs. Each team will be given a six-month test period with funding support. KAIST will invite entrepreneurial experts from both technology and management fields to support the program participants. Around 30 experts with experience in developing new businesses, startups, and investments in large corporations or venture companies will be recruited as entrepreneurial partners. They will offer support for research and business development (R&BD), technology marketing, attracting venture investment from corporations, mergers and acquisitions, and business openings. A survey showed that KAIST members who are interested in starting a business are experiencing difficulties finding an entrepreneurial expert (72.2%), with the complicated startup approval procedures (33.3%), and their lack of knowledge on entrepreneurship and funding (27.8%). The KEP program hopes to encourage KAIST faculty members and students who have well-developed business ideas and the appropriate technology but lack the capabilities to realize and develop them into a business. Associate Vice President of Startups Young-Tae Kim said, “We will develop KEP into KAIST’s distinct entrepreneurial support system and produce exemplary outcomes of faculty and student startups. We will spread the startup DNA and lead the building of a virtuous cycle between entrepreneurship and the venture ecosystem.”
"It’s a Blessing": Lawyer Couple Donates 82 Acres of Land
Korea Abraham Lincoln Society Founder Kwak Sung-hyun and International IP Alternative Dispute Resolution Center (IIPAC) Chairman Kim Cheol-ho have committed to donate a large tract of land to KAIST during a ceremony on July 3. The couple will donate about 82 acres of land located in Seongnam City, Gyeonggi Province. The value of the property is estimated at over 10 billion won. Kim, a lawyer who taught at the Moon Soul Graduate School of Future Strategy from 2009 to 2014, said, “It is a real blessing to make a gift to KAIST." The property is a part of family inheritance that has been passed down for generations. “We’ve thought about the right way to give back to society from a long-term perspective. KAIST will be the best place to honor my father’s generosity and spirit to help young students,” Kwak said at the ceremony. Kwak’s late father who was also a lawyer was a big landowner in Seongnam City back in the 1970s. But he also had to buy nearby parcels of land because he could not refuse the local farmers asking him to buy their land when they urgently needed to sell their property to pay their children’s college tuition fees. So, he bought the land, paying more than double the asking price. The couple finalized their donation plan after having a meeting with President Sung-Chul Shin earlier this year. President Shin personally guided them on a campus tour and presented his vision to make KAIST a world-class university. “We were quite moved by President Shin and the faculty members’ passion and hard work. And we really wanted to help KAIST be the real top university in the world by educating young talents needed for the new era,” Kim said. President Shin said the university will use the land to establish a new campus for entrepreneurship that combines education, research, and technology commercialization so that it can become an advance base in the Fourth Industrial Revolution era.
Center for Industrial Future Strategy Takes Off at KAIST
KAIST Ph.D. Candidate Wins the Next Generation of Engineers Award
Joo-Sung Kim, a doctoral student at the EEWS (Environment, Energy, Water and Sustainability) Graduate School won the inaugural Next Generation of Engineers Award in Leadership on December 14, 2016. The National Academy of Engineering of Korea hosts this award to support creative and ambitious students who have the potential to become leaders in engineering and who will serve as role models for future Korean engineers. Based on the recommendations of university professors in engineering and members of the academy, seven students are selected for the award in the categories of leadership and entrepreneurship. With his research focus on the development of high-performance, next-generation secondary cells for wearable devices such as smart watches, health bands, and smart eyewear, Joo-Sung created a startup, Lithium-ion Battery Energy Science and Technology (LiBEST), Inc. He plans to base his company at the Office of University and Industry Cooperation, KAIST, where he can receive assistance for launching the mass-production system for his technology. His adviser, Professor Jang-Wook Choi of the EEWS Graduate School, noted, “Joo-Sung has been a great student who has a strong sense of curiosity and perseverance. The award is the by-product of his hard work.” “I have always enjoyed my work and study as a researcher, but eventually would like to expand my career into business based on the results of my research. It would be wonderful if I could become a businessman like Elon Musk, Masayoshi Son, or Ma Yun and create a role model for aspiring engineers in Korea by combining science and technology with business demand to create social values that benefit many people,” Joo-Young said.
KAIST, NTU, and Technion Collaborate for Research in Emerging Fields
KAIST, Nanyang Technological University (NTU) of Singapore, and Technion of Israel signed an agreement on April 11, 2016 in Seoul to create a five-year joint research program for some of the most innovative and entrepreneurial areas: robotics, medical technologies, satellites, materials science and engineering, and entrepreneurship. Under the agreement, the universities will also offer dual degree opportunities, exchange visits, and internships. In the picture from the left, Bertil Andersson of NTU, Sung-Mo Kang of KAIST, and Peretz Lavie of Technion hold the signed memorandum of understanding.
KAIST Wins the Korea Donation for Education Awards 2015
KAIST received the grand prize for the university section at the Korea Donation for Education Awards 2015. The award ceremony took place at Seoul Plaza Hotel on December 15, 2015. The Ministry of Education created the award in 2012 to raise awareness about the need for charitable donations for education and to encourage the public’s participation in such endeavors. Recipients have included private companies, public institutions, non-profit organizations, universities, and individuals who have made notable contributions to education, for example, by offering educational programs or fundraising for such programs throughout a year. Many organizations within KAIST, including the KAIST Center of Donation for Education, the Midam Scholarship Committee, the Donation for Software Education Group, the Chalk Academy, KAIST Student Volunteers, and K-LET, have been collectively recognized for their efforts to develop educational materials and managing academic camps and programs. In addition to the grand prize which KAIST won, the Ministry of Education gave Neung-In Jang, a student pursuing a social entrepreneurship MBA at KAIST, an award for his efforts to provide quality education to teenagers by establishing the Midam Scholarship Committee in 2009. The Scholarship aims to revitalize the culture of donation for education by offering free math and science classes to high school students who are less privileged and by inspiring other universities in Korea to follow suit the committee’s volunteering activities.
President Steve Kang of KAIST Receives the Outstanding Contribution Award from the Korean-American Scientists and Engineers Association
The Korean-American Scientists and Engineers Association (KSEA), a non-profit Korean professional organization based in the United States with over 6,000 registered members, bestowed upon President Steve Kang of KAIST the 2015 Outstanding Contribution Award. The award is presented to a person who has made significant contributions to the development of KSEA. The award ceremony took place during the 2015 US-Korea Conference on Science, Technology, and Entrepreneurship (UKC), which was held on July 30, 2015, at the Hyatt Regency Hotel in Atlanta, Georgia. The UKC is the flagship conference of KSEA, which takes place every year, and covers science, engineering, technology, industry, entrepreneurship, and leadership. It attracts more than 1,200 participants from the US and Korea. The UKC 2015 was held on July 29-August 1, 2015. President Kang has participated in UKC conferences over the past few years as a plenary speaker, addressing major issues in science and technology for both nations, and provided generous support for the activities of UKC and KSEA. He also promoted discussions and exchanges of professional knowledge in his field, microelectronics, by organizing fora and symposia. He addressed the UKC 2015 as a plenary speaker with a speech entitled “Pursuing Excellence with a Servant’s Heart.” President Kang said that good leadership should bring out synergistic contributions from all constituents and achieve excellence under all circumstances. He mentioned one example of good leadership, known as humble leadership, and explained how such leadership played an important role in the development of scientific breakthroughs, such as the world’s premier high-end microprocessor chip sets first produced by his team under extremely high pressure.
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.
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.
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.
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