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Startup Education Trend Sweeps through Universities
While the startup education trend sweeps through universities, Korea University Business School plays a leading role. “Startup is a new momentum,” Dean Dong-One Kim said. “It is time for universities to change their business education paradigm to nurture creative entrepreneurs.”
The KUBS Startup Station, which will be completed in September, will be the center of the flow.
KUBS Takes Lead in Making Startup Environment
In May, Korea University has announced a construction plan for “Pi-Ville (π-Ville)” to actively support startup business. Pi-Ville is a place where students can use their infinite imagination—akin to transcendental number, π. It The Pi-Ville will be situated a vacant lot behind the Media Hall, in front of the Main Gate, and in the Sciences and Engineering Campus, in the form of container boxes.
KUBS is also in part of the startup fever and leading other universities. The construction of the KUBS Startup Station, which will produce future entrepreneurs, is fully underway with its preparation. Seed money will also be provided for students who are getting ready to start their own business. The funds are not only used for the startup support but also for the KUBS startup infrastructures.
Operation of Startup Academy
Other universities are enthusiastically sticking their neck out for startup education. As of 2015, Hanyang University has produced approximately 400 alumni through startup class called “Hanyang Start-up Academy.” More than half of the academy alumni, 220 entrepreneurs in specific, succeeded in their business and earned 82.6 billion won in revenue. There is also a competition named “Lion Cup Competition,” in which students team up with alumni to start a business. In addition, the university offers “Techno-Business Administration” as a major course in the College of Engineering. Each team crystalizes a startup item with seed money of 100,000 won. Students who wish to patent their idea can apply for the “Patent Week” program.
Promoting Growth with Local Community
There is a university that promotes growth in both local community and startups. Ewha Women’s University (EWU) has launched “Ehwa Startup 52nd St. Project” this semester to develop student startups and local community. The purpose of the project is to revive an alley in front of the Main Gate of EWU, which was previously well-known as a street of fashion. Through this project, the university rents out a store for students planning to start a business. Additionally, rental fees, tax accounting, legal consulting and mentoring, and scholarship are provided up to one year.
Government Encouraging Startup
The trend of university’s support for startup businesses began by the government policies encouraging startup. In 2013, the Ministry of Education developed a plan for startup education with the vision of “Creation of Startup Ecosystem with Creativity, Challenge, and Hope” in order to vitalize startup education within universities. As an extension of the plan, the government has invested 1.5 billion won on startup education and vitalization of startup culture in 2014 to build a school-friendly regulation and ensure proper startup education.