Technology
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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 10456 -
KAIST's Advanced Biomass R&D Center and ToolGen will cooperate
The Advanced Biomass R&D Center (ABC) at KAIST and ToolGen, Inc., a Korean biotechnology company focused on the development of engineered nucleases that can be used as essential tools for editing genetic information in microbial, plant, animal, and human cells, signed a memorandum of understanding (MOU) on August 18, 2014 for technology exchange and research collaboration.
ABC is headed by Executive Director Ji-Won Yang, a professor emeritus at the Department of Chemical and Biomolecular Engineering, and Chief Executive Officer Jong-Moon Kim for ToolGen.
The newly signed MOU encourages collaborations in the following areas:
- Development of genome editing technology for microalgae modification
- Development of microalgae that increases biofuel production through the
application of genome editing technology
- Creation of education and training programs for researchers
- Collaboration in other areas
In addition, the two organizations decided to cooperate in the improvement of biofuel yields using ToolGen’s genome editing technology, the commercialization of research outcomes, and the development of eco-friendly biofuels from biomass.
Executive Director Yang commented that “improving biofuel production is crucial to accelerate the commercialization of biofuels, and collaborating with ToolGen will help us realize that goal.” He further said that “The importance of this MOU lies in the fact that the global chemical industry including Korea has been making substantial efforts to shift its attention from a fossil fuel-based development to a more bio-based technology.”
Jin-Soo Kim, the director of the Genome Editing Research Center at the Institute of Basic Sciences in Korea and the cofounder of ToolGen, added that “ToolGen has successfully commercialized its third generation genetic scissors, which shows a lot of promise for commercialization. Our collaboration with KAIST will serve as the driving force to create new industries and accordingly, new jobs.”
2014.09.03 View 11151 -
The MIT Skoltech Initiative Report identifies KAIST as one of the core group of emerging leaders for academic entrepreneurship and innovation
The Massachusetts Institute of Technology (MIT) Skoltech Initiative was established in 2011 to support MIT’s multi-year collaboration in building the Skolkovo Institute of Science and Technology (Skoltech), a private graduate research university in Skolkovo, Russia.
Recently, the office of the MIT Skoltech Initiative has published a benchmark report conducted from 2012 to 2014 by Dr. Ruth Graham, an internationally recognized leading consultant for engineering education and research as well as academic technology-driven entrepreneurship, under the guidance of MIT professors and the Center for Entrepreneurship and Innovation at the MIT Skoltech Initiative.
The report identified more than 200 institutions as the world’s most highly-regarded entrepreneurial universities and characterized the approach taken by them to build university-based ecosystems for entrepreneurship and innovation (E&I).
Among the top-ranked institutions, the report mentioned an emerging group of leaders (EGLs) that are “located within more challenging environments but establishing strong entrepreneurship and innovation profiles and reputations.” The report named, in particular, five universities, KAIST (Korea), Technion (Israel), Aalto University (Finland), the University of Michigan (US), and the University of Auckland (NZ), as the core group of the EGLs.
This benchmarking study was written to highlight key strategies and features associated with well-regarded university E&I transformations within more challenging environments and to address barriers and limits faced by the EGLs, thereby providing a good model to other universities wishing to make similar changes.
Through an in-depth case study of a small group of emerging universities, the report concluded that three major components play a critical role in the development of institutional E&I capacity and the growth of ecosystems for E&I:
Component 1: Inclusive grassroots community of E&I engagement across university populations and regional community;
Component 2: Strength in industry-funded research and licensing of university-owned technology; and
Component 3: University E&I agenda reflected in its policies, mission, budget allocations, incentives and curriculum
For more details, please visit the link below:
http://web.mit.edu/sktech/sktech-program/entrepreneurship-innovation/benchmark.html
2014.08.20 View 9135 -
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 13424 -
Discovery of New Therapeutic Targets for Alzheimer's Disease
A Korean research team headed by Professor Dae-Soo Kim of Biological Sciences at KAIST and Dr. Chang-Jun Lee from the Korea Institute of Science and Technology (KIST) successfully identified that reactive astrocytes, commonly observed in brains affected by Alzheimer’s disease, produce abnormal amounts of inhibitory neurotransmitter gamma-Aminobutyric acid (GABA) in reaction to the enzyme Monoamine oxidase B (Mao-B) and release GABA through the Bestrophin-1 channel to suppress the normal signal transmission of brain nerve cells.
By suppressing the GABA production or release from reactive astrocytes, the research team was able to restore the model mice's memory and learning impairment caused by Alzheimer’s disease. This discovery will allow the development of new drugs to treat Alzheimer’s and other related diseases.
The research result was published in the June 29, 2014 edition of Nature Medicine (Title: GABA from Reactive Astrocytes Impairs Memory in Mouse Models of Alzheimer’s Disease).
For details, please read the article below:
Technology News, July 10, 2014
"Discovery of New Drug Targets for Memory Impairment in Alzheimer’s Disease"
http://technews.tmcnet.com/news/2014/07/10/7917811.htm
2014.07.16 View 9712 -
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 9615 -
KAIST doctoral student wins prize at 2014 International Military Science and Technology Fair
Min-Kyu Yoo (far left), a doctoral student in the Department of Materials Science Engineering, KAIST, received a silver prize at the 2014 International Military Science and Technology Fair held from May 29 to June 1, 2014 at KINTEX, Ilsan City, Korea.
Yoo presented a paper on aluminum composite materials that were reinforced by carbon nanotubes. Carbon nanotubes reinforced aluminum composite materials have strong mechanical properties, and some nations have used them to manufacture battle tanks.
Aluminum generates hydrogen in an alkaline solution. Utilizing this property and the galvanic corrosion of carbon nanotubes and aluminums, Yoo developed a hydrogen energy system that is fueled with composite materials of carbon nanotube reinforced aluminum. He produced 5 kW electric power and maintained it 22 days using 10 kg of the composite materials for a proton exchange membrane fuel cell and its auxiliary power system.
Yoo’s research will alleviate the difficulty of transporting fuels during wartime and can be applied to the development of an auxiliary power system for next generation aircrafts and battle tanks.
2014.06.24 View 9541 -
Distinguished Professor Sang Yup Lee Attends World Economic Forum's Workshop
Sang Yup Lee, Distinguished Professor of Chemical and Biomolecular Engineering at KAIST was invited to attend the Technology Pioneer and Global Growth Company CEO Workshop hosted by the World Economic Forum (WEF) on June 19-20, 2014 in San Francisco. During the workshop, Professor Lee joined a discussion on “disruptive technologies” as a panelist.
Currently serving for the evaluation committee that selects technology pioneers for the workshop, during the discussion, Professor Lee identified important issues facing humanity, analyzed the issues through forecasting, and presented converging disruptive technologies that provide solutions to the problems. He also shared the “ten emerging technologies” announced by the Global Agenda Council on Emerging Technologies, WEF and the Korean government’s technology innovation strategies adopted to achieve its economic development policy called creative economy.
2014.06.22 View 9136 -
KAIST studnets win 2014 Creative Vitamin Project Competition
A team of KAIST students have won the grand prize for the “2014 Creative Vitamin Project Competition” held on May 28, 2014 in Seoul. The event was co-hosted by the Ministry of Science, ICT and Future Planning, National Information Society Agency, and Korea IT Convergence Technology Association. The Creative Vitamin Project is the Korean government’s initiative to grow the Korean economy and generate job creation by applying science and technology, information and communications technology in particular, to the existing industry and social issues.
The winners were Hyeong-Min Son, a student in the master’s program in the Department of Civil and Environmental Engineering, KAIST and Su-Yeon Yoo, a Ph.D. student from the Graduate School of Information Security, KAIST.
Son and Yoo proposed a sustainable crop protection system using directional speakers. This technique not only efficiently protects crops from harmful animals, but also effectively guides the animals outside the farmland.
Kwang-Soo Jang, the Director of the National Information Society Agency, said, “This competition provides an opportunity to develop public consensus and interest in the Creative Vitamin Project. We hope that through the participation of all citizens, the project can become an instrument to realizing the creative economy.”
2014.06.18 View 11430 -
Professor Ki Jun Jeong Selected As the Winner of the 'Young Asian Biotechnologist Prize'
Professor Ki Jun Jeong from the Department of Chemical and Biomolecular Engineering, KAIST, has been selected as the winner of this year’s Young Asian Biotechnologist Prize.
Professor Jeong was invited to the 66th Japan Biotechnology and Bioengineering Society Conference scheduled in September 9th-11th, 2014, in Sapporo, Japan, where his award ceremony will be held.
The award is presented to Professor Jeong in recognition of his outstanding research on microbial-based production of antibodies and efficiency improvement.
The Young Asian Biotechnologist Prize is awarded annually by the Japan Biotechnology and Bioengineering Society to the researchers in Asia under the age of 45, who have achieved excellent research results in the field of bioengineering.
2014.06.14 View 10052 -
MOU between KAIST and Sun Medical Center on "Mobile Health Care"
KAIST and Sun Medical Center signed a memorandum of understanding (MOU) in front of 20 attendees including KAIST President Steve Kang and Sun Medical Center Director Seung-Hoon Sun on June 9 at KAIST to expand medical services through medical and electronic telecommunication technology.
The two organizations will cooperate on the research and development of mobile healthcare, systems for the medical industry, remote medical treatment for overseas patients, and working toward improving national healthcare. The two parties will also develop wearable devices and mobile sensors which will become a welcome addition to the global healthcare market.
KAIST President Steve Kang explained, “With Sun Medical Center’s 50 years of experience in medical technology and KAIST’s World University Ranking of 20th in information technology, a new brainchild in the mobile healthcare field will be produced.”
In the meantime, KAIST’s College of Information Science and Technology is making developments in mobile healthcare systems which can accumulate medical information and apply it to medical services by using personal bio-information data. Ambitious new projects are underway, such as the “Dr. M Project“ which launched in March with 28 full-time researchers.
2014.06.14 View 7916 -
Establishment Agreement for KAIST-Poongsan Future Technology Research Center
KAIST and Poongsan Corporation agreed to found the KAIST-Poongsan Future Technology Research Center and held a ceremony to sign a memorandum of understanding in front of 30 attendees including KAIST President Steve Kang and Poongsan Chairman Jin Ryu on May 27 at KAIST.
The Research Center will develop basic technology in the fields of defense and high tech materials as well as build a new foundation for future Poongsan projects. Research areas include technologies for new materials, propulsion control, and defense.
To further this endeavor, Poongsan Corporation will support the KAIST-Poongsan Future Technology Research Center for 3 years through an investment of USD 2.95 million, personnel, and technology.
An agreement was made between KAIST and Poongsan to establish the Future Technology Research Center.
2014.05.29 View 8294