The KAIST Technology Business Incubation Center (TBIC) received the Prime Minister’s Prize at the 2013 Korean Venture & Business Expo. TBIC started its service in 1994 and was selected as the best center by the Asia Association of Business Incubation (AABI) in 2007.
The center has contributed to business incubation for competitive enterprises through consulting, venture capital, educational curriculums, and infrastructure service. It has also encouraged and activated business startups by KAIST students through educational programs and supporting services such as hidden champion buildup, mentoring & networking, startup auditions, and special lecture sessions for entrepreneurship.
TBIC has supported 488 businesses since 1994, and 278 companies (57%) are still in business. Eleven companies have been listed on the Korea Stock Exchange through the support of TBIC and eight of them are still on the list as of today. Those companies have been contributing to the national economy with total sales of 1.9 trillion won and in job creation by hiring 5,908 employees.