The opening ceremony of the Yangjae R&CD Innovation Hub was held in Seoul on December 5. More than 400 guests came to the ceremony from major institutes and companies that are based in the hub. KAIST President Sung-Chul Shin, the Mayor of Seoul, Won-soon Park, and the Mayor of Seocho-gu, Eun Hee Cho, signed an MoU for Seoul to be the leading city for successfully realizing the Fourth Industrial Revolution.
The three organizations aim to cooperate with one another in various areas, including an economic boost for local job creation, technology development, and the promotion of projects through an industry-academia-institute network and fostering manpower.
Yangjae R&CD is the first facility specializing in and dedicated for Artificial Intelligence, which is the major topic of the Fourth Industrial Revolution.
The hub is comprised of enterprises specializing in AI, open co-work spaces, conference rooms, an open networking lounge, and spaces for fostering professional manpower. The hub will recruit additional enterprises and individuals who wish to move in. KAIST, an institute containing professors and researchers in the field of AI, and Modulabs, an organization becoming distinguished in AI research, will be in charge of operating the facility together.
The Yangjae R&CD Innovation Hub will operate a professional training program with participation from KAIST professors, which aims to produce 500 professionals in AI research and development by 2020.
It will also provide inexpensive space as well as consultations and venture capital to startup and venture companies. It plans to find and foster 50 innovation companies by 2020.
In particular, the hub will operate a course for new AI business models 24 times over three years.
The hub also offers job consultations, academic conferences, public space for companies residing in the hub, a free GPU cluster server, technical training, seminars, forums, investment attraction, overseas expansion, and one-to-one technical consultations.
The Yangjae R&CD Zone is the place established for the Fourth Industrial Revolution by Seoul. R&CD is a concept combining Research and Development, Connection, Companies, Community, and Culture.
Seoul aims to create the Yangjae Zone as an urban innovation hub for facilitating industry-academia linkage as well as establishing a startup-settlement-growth technical ecosystem.
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