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[Interview: The 1st Anniversary of KUBS Startup Institute] Our Goal Is to Be the Leading Startup Hub
2017.09.14 Views 3016 경영대학
Interview: The 1st Anniversary of KUBS Startup Institute
“Our Goal Is to Be the Leading Startup Hub in Korea”
“Our Goal Is to Be the Leading Startup Hub in Korea”
Korea University Business School affiliated KUBS Startup Institute celebrated its one year anniversary. In September 2017, Professor Ho-Won Jung, Director of KUBS Startup Institute, has reached the end of his term, and Professor Hicheon Kim will fill in the position. conducted an interview with the two about the overall performances of KUBS Startup Institute and their future cooperation with LINC+ Project to invigorate startup among youths.
Q. It’s been a year since the launch of KUBS Startup Institute. Tell us how you feel.
Director Kim: The world is changing at a remarkable pace. When we look at the rise and fall of enterprises during the industrial revolution, the strong dwindles and new enterprises that have grasped emerging opportunities assume leadership. We are confident that the teams that have entered our institute will extend their reach to all parts of the world. I hope our institute becomes the starting point for teams that aspire to become global enterprises.
Professor Jung: There is a new paradigm as we enter the fourth industrial revolution. For the past few years, the IT industry has followed the leadership of companies like Microsoft and Google. KUBS Startup Institute is for those who can seize emerging opportunities in a rapidly changing world and are capable of creating new values. We have attracted a total investment of 970 million won, and our company valuation stands at 15.4 billion won. I am proud of what we have achieved.
Q. Tell us about some of the strengths of KUBS Startup Institute
Director Kim: We not only provide space but also practical assistance. Through MOU with Kim & Chang Law Firm and Samil, we give legal, accounting, and tax services. We also have programs like “Lecture Series” and “Lecture on Demand” to fill in startups with relevant information. In addition, we have been advocating active investment from venture capitalists, accelerators and angel investors by hosting events like CHOO CHOO DAY.
Professor Jung: The biggest strength lies in its openness. All you need in your team to apply for a venue is a business undergrad or an alumnus who has obtained his degree within the past 5 years. Our constituents made of students who range over diverse majors such as engineering, humanities, and design. We also provide services that our essential during the beginning stage of establishing businesses such as Amazon Web Service and AWS Cloud.
Q. Tell us how KUBS Startup Institute plans to invigorate youth startups with LINC+ Project.
Director Kim: We plan to support talented students from various majors, so they can reach their potential. At the present, the key participant of the KU LINC+ Project are students from business and engineering departments, but I hope a lot more students from different backgrounds will join KUBS Startup Institute. I look forward to seeing students independently constructing new business models to solve social problems.
Professor Jung: I think the partnership will give us the opportunity to expand what we have been doing in KUBS Startup Institute. If we manage to procure sufficient funding, we would be able to provide better infrastructure for the teams. I hope to have the teams participating in startup expositions abroad. It will be a fruitful experience – they will see what ideas foreign ventures have and how they employ them to establish new companies. It’s better for them to be in the field and actually see the action rather than simply hearing about them. Interaction with students from all over the world who have their own startups will be a stimulating experience.
Q. What does KUBS Startup Institue hope to achieve by the end of its LINC + Project in 2022?
Director Kim: Our priority is to be the leading startup hub in Korea. In doing so, it would become a place where investors interested in college ventures look forward to visit. In fact, I hope it becomes a globally recognized hub.
Professor Jung: 5 years from now, I hope people would think of this place when the word “startup” pops into their heads. And 20 years from now, I wish a renowned company founder would be from our hub.
Q. Do you have anything to say to the students who plan starting a new company?
Director Kim: I don’t think everyone has to jump on the startup craze. But as time passes, firms are looking for talents who can create new values rather than people only capable of performing simple tasks. Ultimately, startups and firms are looking for similar talents. I advise students looking to start their own companies to examine what society needs.
Professor Jung: Those who are interested in startups are welcome to visit KUBS Startup Institute. Please attend our lecture series. They really help identifying emerging ideas in changing paradigms and provide an insight into innovation and the essence of becoming entrepreneurs.
Q. It’s been a year since the launch of KUBS Startup Institute. Tell us how you feel.
Director Kim: The world is changing at a remarkable pace. When we look at the rise and fall of enterprises during the industrial revolution, the strong dwindles and new enterprises that have grasped emerging opportunities assume leadership. We are confident that the teams that have entered our institute will extend their reach to all parts of the world. I hope our institute becomes the starting point for teams that aspire to become global enterprises.
Professor Jung: There is a new paradigm as we enter the fourth industrial revolution. For the past few years, the IT industry has followed the leadership of companies like Microsoft and Google. KUBS Startup Institute is for those who can seize emerging opportunities in a rapidly changing world and are capable of creating new values. We have attracted a total investment of 970 million won, and our company valuation stands at 15.4 billion won. I am proud of what we have achieved.
Q. Tell us about some of the strengths of KUBS Startup Institute
Director Kim: We not only provide space but also practical assistance. Through MOU with Kim & Chang Law Firm and Samil, we give legal, accounting, and tax services. We also have programs like “Lecture Series” and “Lecture on Demand” to fill in startups with relevant information. In addition, we have been advocating active investment from venture capitalists, accelerators and angel investors by hosting events like CHOO CHOO DAY.
Professor Jung: The biggest strength lies in its openness. All you need in your team to apply for a venue is a business undergrad or an alumnus who has obtained his degree within the past 5 years. Our constituents made of students who range over diverse majors such as engineering, humanities, and design. We also provide services that our essential during the beginning stage of establishing businesses such as Amazon Web Service and AWS Cloud.
Q. Tell us how KUBS Startup Institute plans to invigorate youth startups with LINC+ Project.
Director Kim: We plan to support talented students from various majors, so they can reach their potential. At the present, the key participant of the KU LINC+ Project are students from business and engineering departments, but I hope a lot more students from different backgrounds will join KUBS Startup Institute. I look forward to seeing students independently constructing new business models to solve social problems.
Professor Jung: I think the partnership will give us the opportunity to expand what we have been doing in KUBS Startup Institute. If we manage to procure sufficient funding, we would be able to provide better infrastructure for the teams. I hope to have the teams participating in startup expositions abroad. It will be a fruitful experience – they will see what ideas foreign ventures have and how they employ them to establish new companies. It’s better for them to be in the field and actually see the action rather than simply hearing about them. Interaction with students from all over the world who have their own startups will be a stimulating experience.
Q. What does KUBS Startup Institue hope to achieve by the end of its LINC + Project in 2022?
Director Kim: Our priority is to be the leading startup hub in Korea. In doing so, it would become a place where investors interested in college ventures look forward to visit. In fact, I hope it becomes a globally recognized hub.
Professor Jung: 5 years from now, I hope people would think of this place when the word “startup” pops into their heads. And 20 years from now, I wish a renowned company founder would be from our hub.
Q. Do you have anything to say to the students who plan starting a new company?
Director Kim: I don’t think everyone has to jump on the startup craze. But as time passes, firms are looking for talents who can create new values rather than people only capable of performing simple tasks. Ultimately, startups and firms are looking for similar talents. I advise students looking to start their own companies to examine what society needs.
Professor Jung: Those who are interested in startups are welcome to visit KUBS Startup Institute. Please attend our lecture series. They really help identifying emerging ideas in changing paradigms and provide an insight into innovation and the essence of becoming entrepreneurs.