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KAIST Startups Annually Engage 33,000 People, and Their Sales Total Nearly 10 Billion Dollars
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 status of startup assistance.
The report categorized the startups with respect to the founders’ background. Of 1,245 companies, KAIST alumni founded 929 (74.6%) of the companies under study: 191 (15.3%) were located within the KAIST campuses, 91 (7.3%) were founded by enrolled students, and 74 (2.7%) by professors. The startup founders had different levels of education: 515 (41.4%) founders had master’s degree, 443 (35.6%) Ph.D. degree, and only 213 (17.1%) had only bachelor’s degree as the highest level of education attained. The reason behind the majority of founders having a master’s degree or higher degree is that many people established a startup after obtaining specialized knowledge and skills.
Focusing on the founders’ college majors, 719 (70.6%) founders were from the engineering department, 111 (10.9%) from the business administration department, 103 (10.1%) from the natural science department, and 86 (8.4%) from other departments. Looking at the companies' locations, 462 (37.5%) were placed in Seoul, 355 (28.8%) in Daejeon, and 273 (22.2%) in Gyeonggi.
By the end of 2013, the total asset of 1,069 companies came to 12 billion and 444 million dollars. Their total sales figure was 10 billion and 13 million dollars, and annual employments summed up to 33,000 people. The companies generated a significant portion of gross regional domestic product (GRDP) in each region. They formed 0.49% of GRDP of Seoul, took up 1.67% GRDP of Gyeonggi, and 5.53% of that of Daejeon.
Along with the performance analysis, the report also took a survey of suggestions on future startup assistance and opinions on current startup assistance policies. To a question asking what constituted the most difficult part of startup, 31.7% of respondents answered “attraction of investment,” 22.8% chose “a lack of human resources,” and 16.8% said “consulting” amongst 214 respondents. The study showed that major and medium enterprises face difficulty in finding human resources whereas small businesses experience obstacles attracting investment. Some startups had help from KAIST: 44 startups were provided with the office space, 21 had educational supports, and 18 were supported in research and development.
The report demonstrates that startups established by KAIST alumni and members play a key role in the South Korean economy despite KAIST’s short startup history, which began only since the end of 1990s. Based on this report, KAIST plans to listen continuously to the needs of alumni founders, and use those responses as a guide to entrepreneurship education for current students.
The Dean of the Office of University and Industry Cooperation, Joongmyeon Bae, who oversaw the publication of this report, said, "As this report is the first in Korea to study the status of alumni startups, it will be incredibly valuable in modifying the startup assistance policies.”
To spread an entrepreneurial spirit and start-up cultures in the campus and enhance the startup supporting system, KAIST has founded various startup centers on and off the campus.
2015.07.14 View 7486 -
KAIST Undergraduate Students Volunteer in Ethiopia
World Friends (WF), one of the undergraduate student clubs at KAIST, offer students opportunities to volunteer in underdeveloped regions and countries. This year the World Friends team travels to Ethiopia from July 9 to August 17, 2015.
The aim of this trip is to help Ethiopian students fill gaps in their knowledge of information technology and encourage KAIST students build leadership skills through volunteer activities. Twenty-eight students will make the trip.
KAIST students will visit the Addis Ababa Institute of Technology and the Adama Science and Technology University, as well as some local high and elementary schools in Addis Ababa, where they will run computer classes related to the basics of information technology such as C Language, Java Programming, Photoshop, MS Office, and Windows.
The volunteers will offer Adama Science and Technology University students an advanced computer course to prepare them to participate in the ACM-ICPC, an international computer programming competition for university students.
KAIST students will also introduce Korean culture to Ethiopian students including K-pop, Korean cuisine and fashion, Korean language lessons, and traditional Korean art.
The Dean of Student Affairs and Policy at KAIST, Professor Young-Hee Kim said, “I hope the students from two very different cultures will cherish this opportunity to interact with each other and contribute to narrowing down the regional disparities in the IT field.”
2015.07.10 View 7303 -
Dong-Young Lee, a Doctoral Candidate, Receives the Best Paper Award
Dong-Young Lee, a Ph.D. candidate in the Mechanical Engineering Department, KAIST, received the Best Paper Award at the 18th International Conference on Composite Structures (ICCS). The event was held in Lisbon, Portugal, on June 15-18, 2015. Mr. Lee’s adviser is Professor Dai-Gil Lee of the same department.
The ICCS is held every other year, and is one of the largest and long-established conferences on composite materials and structures in the world. At this year’s conference, a total of 680 papers were presented, among which, two papers were chosen for the Best Paper Award, including Mr. Lee’s.
The paper, entitled “Gasket-integrated Carbon and Silicon Elastomer Composite Bipolar Plate for High-temperature PEMFC,” will be published in the September issue of Composite Structures which is one of the top journals in mechanical engineering as judged by the Google Scholar Metrics rankings.
Mr. Lee dropped the conventional method of PEMFC (Proton Exchange Membrane Fuel Cells) assembly and instead developed a gasket-integrated carbon and silicone elastomer composite bipolar plate. This technology significantly increased the energy efficiency of fuel cells and their productivity.
Mr. Lee said, “I would like to thank the many people who supported me, especially my Ph.D. adviser, Professor Dai-Gil Lee. Without their encouragement, I would have not won this award. I hope my research will contribute to solving energy problems in the future.”
In addition, Professor Joon-Woo Im from Chonbuk National University, Senior Researcher Il-Bum Choi from the Agency for Defense Development, and a fellow doctoral candidate Soo-Hyun Nam from KAIST participated in this research project.
2015.07.09 View 8095 -
Experts Gather to Develop a Korean Supercomputer on KAIST Campus
KAIST hosted an inauguration ceremony for the Super-Capacity Computing Advancement Forum on July 2, 2015, to increase Korea's national computing capacity. It represents a gathering consisting of experts drawn across industry, university, and institutes in super-capacity computing.
More than ten experts from the university, including President Steve Kang and Professor Oh-Joon Kwon of the Department of Aerospace Engineering, attended the ceremony. This forum was created to secure a competitive edge in the global market by establishing a long-term strategy for the development of super computers.
The recent rise of new service industries, such as voice recognition, artificial intelligence, and the Internet of Things, has increased the need for super-capacity computing to deal more rapidly with big data. The need is made more urgent by increased investment by leading countries in this field.
The forum will organize and operate working-level subcommittees to promote in-depth discussions on issues related to super-capacity computing systems. Open forums and public hearings will be held until October, to gather information and insights needed to advance the field.
President Steve Kang, the Chairman of the Forum, said, “The forum will have a great impact on Korea’s effort to become a world leader in super-capacity computing. We plan to debate the pros and cons of potential solutions to the Korean government, to assist them in building the nation’s competitiveness in super-capacity computing capability.”
2015.07.07 View 5800 -
The Minister of Education of Kazakhstan Visits KAIST
The Minister of Education of the Republic of Kazakhstan, Aslan Sarinzhipov, and his delegation visited KAIST on June 30, 2015.
Dr. Young-Suk Ji, the Chairman of Elsevier, an academic publishing company that publishes medical and scientific literature, arranged the visit.
The Kazakh delegation showed great interest in KAIST’s educational system and research programs during their meeting with President Steve Kang of KAIST. In particular, the delegation was most impressed by the startups and entrepreneurship programs established at the KAIST Pangyo Innovation Center.
President Kang said, “I hope the Minister’s visit will help inspire more Kazakh students to come to Korea and study at KAIST.”
Kazakhstan, located in the northern part of Central Asia, gained its independence in 1991 after the collapse of the Soviet Union. Currently, there are 22 Kazakh students studying at KAIST.
2015.07.03 View 4495 -
Professor Jae Kyu Lee Appointed the President of Association for Information Systems
Chair Professor Jae Kyu Lee of KAIST’s College of Business was appointed the President of Association for Information Systems (AIS) on July 1, 2015. Professor Lee will serve a one-year term, which will end in June 2016. With four thousand members researching information systems from 90 different nations, AIS is the largest academic society in the fields of information system and business process engineering.
Professor Lee has proposed his idea of “the Bright Internet” as the official vision of AIS. Employing this vision, AIS will create technology and systems, as well as sponsor international cooperation to solve fundamental issues of the Internet including concerns over hacking and cyber-related crimes.
The extent of damage from cyber-related crimes grows each year. Every day, 56 billion junk emails are sent to computers which are hacked and become “zombie” computers. The social cost of such crimes is estimated to be 400 billion US dollars annually.
Based on "the Bright Internet," AIS will build a preventative Internet security system by adopting ground rules that make attackers responsible for the damages from such crimes. The system will also modify technology and other systems to minimize privacy infringement while maintaining security. Finally, the Bright Internet proposes to adopt an international standard for this security system through collaboration with the International Telecommunications Union (ITU).
Professor Lee said, “The vision of the Bright Internet started from an awareness that we needed to resolve issues such as Internet addiction, indiscriminate media exposure, and verbal violence. This vision developed by the experts from all around the world will not only bring a revolution of a reliable Internet platform to a global scale but also reshape the Korean Internet platform.”
2015.07.02 View 6795 -
Professor Kyoungsik Yu Receives the Young IT Engineer Award from IEEE and IEIE of Korea
Professor Kyoungsik Yu of KAIST’s Department of Electrical Engineering is the recipient of this year’s Young IT (Information Technology) Engineer Award that was co-hosted by the Institute of Electrical and Electronics Engineers (IEEE), the Institute of Electronics Engineers of Korea (IEIE), and Haedong Science Culture Foundation in Korea. The award was presented on June 22, 2015 at The Ramada Plaza Jeju Hotel on Jeju Island, Korea.
The Young IT Engineer Award is given to emerging scientists who have made significant contributions to the advancement of technology, society, environment, and creative education.
Professor Yu's main research interests are IT, energy, and imaging through miniaturization and integration of optoelectronic devices. His contribution to academic and technological development is reflected in his publication of more than 100 papers in international journals and conferences, which were cited over 2,200 times.
Professor Yu said, “I’m honored to receive this award and am encouraged by it. I also find the award meaningful because the United Nations has designated this year as the “International Year of Light and Light-based Technologies,” the field I have been involved in as a researcher.”
In addition to Korea, the IEEE has jointly hosted and presented this award to researchers in countries such as Chile, Ecuador, Peru, Singapore, and Italy.
2015.06.22 View 10040 -
Professor Jeong-Guon Ih Is Appointed the Vice President of the International Commission for Acoustics
Professor Jeong-Guon Ih of the Mechanical Engineering Department at KAIST has been elected to serve as the Vice President of the International Commission for Acoustics (ICA) from June 2015 to the end of 2016. The appointment was made at the meeting of the ICA Board held on June 1, 2015, in Maastricht, the Netherlands.
Professor Ih currently also chairs the Asia-Pacific Acoustics Commission.
Instituted in 1951, the ICA is an academic society that promotes international development and collaboration in all fields of acoustics including research, advancement, education, and standardization. It has a membership of 44 national acoustical societies worldwide and four observer countries.
2015.06.17 View 6081 -
KAIST and Sejong City Goverment Agree to Establish a Graduate School of Medical Science and Engineering
KAIST and the government of Sejong City will cooperate to establish a graduate school of medical science and engineering. On June 11, 2015, President Steve Kang of KAIST and Mayor Choon-Hee Lee of Sejong City signed a memorandum of understanding at the city hall of Sejong to establish the school.
Under the agreement, the two organizations will work out details to establish the graduate school in Sejong on such issues as administrative assistance, financial support, curriculum development, and the creation of an environment conducive to the growth of medical science.
President Kang said, “Once this graduate school is established, KAIST will be able to offer Korea and the world top-notch researchers in the field of medical science. I have high hopes that the school will produce high-impact research breakthroughs and lead in the advancement of interdisciplinary studies in biotechnology.”
In the picture below, President Steve Kang of KAIST (third from the left) holds the signed memorandum of understanding with Mayor Choon-Hee Lee of Sejong (fourth from the left).
2015.06.16 View 6064 -
Professor Sung Yong Kim Presents a Keynote Speech at the International Ocean Color Science Meeting (IOCS) 2015
Professor Sung Yong Kim of the Mechanical Engineering Department at KAIST delivered a keynote speech at the International Ocean Color Science Meeting (IOCS) 2015 held in San Francisco on June 15-18, 2015. His speech was entitled “Research and Applications Using Sub-mesoscale GOCI (Geostationary Ocean Color Imager) Data.”
The IOCS, organized by the International Ocean Color Coordinating Group (IOCCG), is a community consultation meeting providing communication and collaboration between space agencies and the ocean color community, building strong ties among international representatives of the ocean color communities, and providing a forum for discussion and the evolution of community thinking on a range of issues.
Professor Kim was recognized for his contribution towards the development of remote exploration of sub-mesoscale processes including eddies, fronts, and environmental fluid dynamics.
He also attended the 26th General Assembly of the International Union of Geodesy and Geophysics (IUGG) in Prague, the Czech Republic, on June 22, 2015 and gave a presentation on the sub-mesoscale eddies circulation research.
2015.06.12 View 7959 -
Science and Technology Policy Professor Chihyung Jeon Awarded Rachel Carson Fellowship
KAIST Graduate School of Science and Technology Policy Professor Chihyung Jeon has been awarded the Rachel Carson Fellowship 2015-2016.
Rachel Carson Center for Environment and Society is a research center for environmental humanities and social sciences, supported by the German Federal Ministry of Education and Research. It was founded by Ludwig-Maximilians-Universität, Munich, Germany and the Deutsches Museum as a joint initiative in 2009.
Rachel Carson Center supports researches in humanities and social sciences on the interactions between the environment and the society, following the footsteps of Rachel Cason, who raised awareness on the chemical environmental damage and started global environmental movement through her published book “Silent Spring” in 1962.
The center is awarding Rachel Carson Fellowships to established researchers to fund their writing and promote exchange of research. This year, 31 fellowships were awarded.
Professor Jeon will conduct research on "A Dredged Nation: The Four Rivers Restoration Project and the Envirotechnical Transformation of South Korea" and will also hold an additional post of International Curatorial Fellow at the Deutsches Museum.
2015.06.11 View 8418 -
KAIST to support the Genetic Donguibogam Research Project for global market entry of a new natural drug produced by Green Cross Corporation HS
In the wake of the spread of the Middle East Respiratory Syndrome (MERS), sales of immune-enhancing products in Korea such as red and white ginseng have risen dramatically. Ginseng is one of Korea’s major health supplement it exports, but due to the lack of precise scientific knowledge of its mechanism, sales of ginseng account for less than 2% of the global market share.
The Genetic Donguibogam Research Project represents a group of research initiatives to study genes and environmental factors that contribute to diseases and to discover alternative treatments through Eastern medicine. The project is being led by KAIST’s Department of Bio & Brain Engineering Professor Do-Heon Lee.
Professor Lee and Chief Executive Officer Young-Hyo Yoo of Green Cross Corporation HS, a Korean pharmaceutical company, signed a memorandum of understanding (MOU), as well as a non-disclosure agreement (NDA) to develop a naturally derived drug with an enhanced ginsenoside, pharmacological compounds of ginseng, for the global market entry of BST204 on June 10, 2015.
Donguibogam is the traditional Korean source for the principles and practice of Eastern medicine, which was compiled by the royal physician Heo Jun and first published in 1613 during the Joseon Dynasty of Korea.
Cooperating with Green Cross Co., HS, KAIST researchers will use a multi-component, multi-target (MCMT)-based development platform to produce the new natural drug, BST204. This cooperation is expected to assist the entry of the drug into the European market.
Green Cross Co., HS has applied a bio-conversion technique to ginseng to develop BST204, which is a drug with enhanced active constituent of aginsenosides. The drug is the first produced by any Korean pharmaceutical company to complete the first phase of clinical trials in Germany and is about to start the second phase of trials.
Professor Do-Heon Lee, the Director of the project said, “Genetic Donguibogam Research Project seeks to create new innovative healthcare material for the future using integrated fundamental technologies such as virtual human body computer modelling and multi-omics to explain the mechanism in which natural ingredients affect the human body.” He continued, “Especially, by employing the virtual human body computer modelling, we can develop an innovative new technology that will greatly assist Korean pharmaceutical industry and make it the platform technology in entering global markets.”
Young-Hyo Yoo, the CEO of Green Cross Co., HS, said, “For a new naturally derived drug to be acknowledged in the global market, such as Europe and the US, its mechanism, as well as its effectiveness and safety, should be proven. However, it is difficult and costly to explain the mechanism in which the complex composition of a natural substance influences the body. Innovative technology is needed to solve this problem.”
Professor Do-Heon Lee (left in the picture), the Director of Genetic Donguibogam Research Project, stands abreast Young-Hyo Yoo (right in the picture), the CEO of Green Cross Co., HS.
2015.06.10 View 7744