Average sales for KAIST alumni startups in 2015 doubled from the previous year to 20.7 billion KRW. They reportedly recorded approximately 37-times higher sales than non-KAIST alumni startups, demonstrating that KAIST is emerging as strong tech-based venture startup incubator.
According to a white paper on the Profile and Performance of KAIST Startups released recently, the number of KAIST startups stood 1,112, of which 877 were founded by alumni (78.9%), 36 by faculty and staff (3.2%), and 199 by those funded by the KAIST Technology Business Incubation Center (17.9%) at the end of 2015.
The total sales of KAIST startups stood at 13.6 trillion KRW in 2015, a 25% increase compared to the previous year. KAIST alumni startups created about 32,400 jobs in that year.
Most KAIST founders majored in engineering (649 people, 71.1%), followed by business (121 people, 13.3%), natural sciences (86, 9.4%), life science and bio engineering (32 people, 3.5%), and liberal arts and convergence science (24 people, 2.6%), making a total of 913 founders, excluding the 199 startups funded by KAIST Technology Business Incubation Center.
By department, most founders come from electrical engineering (148 people, 16.2%), followed by mechanical engineering (135 people, 14.8%), and computer science (114 people, 12.5%).
KAIST startups produced 63 listed companies (1 KOSPI, 51 KOSDAQ, and 11 KONEX), which accounted for 5.7% of the total 1112 startups. This is significantly higher than the average for venture companies (1.1%). It should be noted that the rate is only around 10% for Korean conglomerate-affiliated companies.
At the point of startup establishment, KAIST alumni startup founders were mostly in their 40s (430 people, 40%), followed by their 30s (415 people, 38.6%), 20s (110 people, 10.2%) and 50s (110 people, 10.2%). Around half of the founders were in their 20s and 30s. In particular, the number of founders in their 20s and 30s was around 3.5 times higher in KAIST startups compared to general startups and 1.2 times higher than venture startups.
The average lifespan of KAIST startups is 10.3 years; 276 companies (25%) were established over 16 years ago, 282 companies (25.4%) between 6 and 10 years, 246 companies (22.1%) between 11 and 15 years, and 308 companies (27.7%) less than five years ago. By type of business, startups based on technology accounted for 88.1%; 510 manufacturing companies accounted for 46.2%, followed by 321 information service companies with 29.1%, and 147 science and technology service companies with 13.3%.
By region, 617 companies (55.5%) were located in Seoul and the nearby metropolitan area, followed by 350 companies (31.5%) located in Daejeon.
(President Shin poses (far right) with the National University of Singapore President Tan Eng Chye (center) along with Distinguished Professor Sang Yup Lee in Davos last week.) President Sung-Chul Shin shared his ideas on how reskilling is a critical element of growth, dynamism, and competitiveness for countries during a session titled “Closing the Skills Gap: Creating a Reskilling Revolution” at the World Economic Forum on January 24 in Davos. While discussing a reskilling2019-01-28
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 st2015-07-14
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 contributed2013-12-11