Center+for+Global+Strategies+and+Planning
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The 3rd Global Entrepreneurship Summer School (GESS 2024) Successfully Completed in Silicon Valley
The 2024 Global Entrepreneurship Summer School (2024 KAIST GESS), hosted by the Office of Global Initiatives under the KAIST International Office (Director Man-Sung Yim), was held for the third time. This program allows students to visit Silicon Valley, a global startup hub, to directly experience its famous startup ecosystem and develop their capabilities for global expansion. A total of 20 students were selected through applications, interviews, final presentations, mentoring, and peer evaluations. Additionally, 17 students from the KAIST Impact MBA course at the KAIST Business School also participated.
Before starting the Silicon Valley program, participants received mentoring on business model development and pitching advice from a senior entrepreneur at KAIST for about two months, beginning last May. Afterward, they developed business items for each team at KAIST’s main campus in Daejeon. For seven days, starting from June 23rd, workshops were held under the themes of global entrepreneurship, learning through failure, capital and network, and startup culture at KOTRA Silicon Valley Trade Center, JP Morgan, and Plug and Play Tech Center. This program's lecture series provided prospective entrepreneurs with the opportunity to systematically learn the mindset and gain the experience needed to start a global business.
The participants also visited local companies and gained experience in the field of global technology startups. Visits included Bear Robotics (CEO John Ha), Soundable Health (CEO Cathering Song), ImpriMed (CEO Sungwon Lim), Phantom AI (CEO Hyunggi Cho), B Garage (CEO Aiden Kim), and Simple Steps (CEO Doyeon Kim). Lectures contained vivid experiences from Silicon Valley CEOs and company tours boosted the students' passion for entrepreneurship. In particular, Doyeon Kim, CEO of Simple Steps, which helps prevent career breaks for Korean female immigrants in Silicon Valley and allows talented female immigrants to demonstrate their abilities in society, said, “As a KAIST alumna entrepreneur, it was meaningful to share my experience with this generation of students who dream of starting a global business and creating social enterprises in the United States.”
This program also included a tour of Silicon Valley's big tech companies that have made a significant impact on the digital ecosystem through technological advancement and innovation. This included Broadcom, which maintains a strong global presence in the semiconductor and infrastructure software technology fields. At the invitation of Chairman Hock Tan, GESS participants had the opportunity to attend his lecture and ask questions. Chairman Tan, who received an honorary doctorate in engineering from KAIST last February, emphasized that experiencing failure and giving consistent effort over a long period of time are more important than anything else in order to grow as a global entrepreneur, and that technologies influencing the global market evolve over generations.
< Photo. Group photo of GESS 2024 participants at Broadcom with Chairman Hock Tan (center) ⓒBroadcom>
As part of this program, participants conducted a volunteer program called 'Let's play with AI+ Tech' with the Sunnyvale community in Silicon Valley and Foothill College to help grow together with the community. Through this program, GESS participants cultivated the virtues of a global leader. In this volunteer activity, low-income elementary school students and parents from the Sunnyvale community participated in chatbot training led by KAIST students, providing an opportunity to work with underprivileged groups in the local community.
In the final pitching event, the highlight of the program, local venture investors from Silicon Valley were invited as judges and evaluated the pitches for each team's business items. The participating students, who developed their own business models while receiving advice through face-to-face mentoring from a professional accelerator in Silicon Valley, showcased their creative and innovative ideas, presenting themselves as future global entrepreneurs. Merey Makhmutova (BS in Civil and Environmental Engineering) from the K-Bridge team, who won the final pitch, expressed her ambition: “Even before GESS pitch day, our team kept refining the pitch deck as we attended the lectures and benefitted from the mentoring. Our intense teamwork was a significant reason why we ultimately won first prize.” She added that K-Bridge aims to win an award at the upcoming UKC Pitching Competition and expressed her gratitude for being able to participate in this program. Arseniy Kan (BS in Electrical Engineering) from the KAIST Enablers team, who took second place, said, “The 2024 KAIST GESS Program became the most unforgettable and precious opportunity of my lifetime, and I dream of using this opportunity as a stepping stone to becoming a global entrepreneur.“ Additionally, Kangster (CEO Kang Kim), who won the Impact MBA final pitching session, had the opportunity to secure a meeting with a local investment company after their GESS final pitch.
The 2024 KAIST GESS was held in cooperation with the KAIST International Office, the KAIST College of Business, and Startup KAIST. Director Man-Sung Yim from the Office of Global Initiatives, who hosted the event, said, “KAIST students will grow into leaders with global influence and contribute to the international community by creating global value. At the same time, we hope to raise the international status of our university.” Professor Sangchan Park, who led the 17 Impact MBA students in this educational program, added, “Meeting with companies leading the global market and visiting Silicon Valley has been a valuable learning experience for students aiming to start a global startup.”
KAIST plans to continue promoting its global entrepreneurship education program by enriching its curriculum each year and helping students grow into entrepreneurs with the virtues of global leaders.
2024.07.03 View 3105 -
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.
2023.07.05 View 7189 -
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
slee900@kaist.ac.kr
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
2022.07.05 View 8696