On at least one occasion, everyone has undoubtedly dreamt of starting their own company. According to start-up guru Steve Blank, a start-up is a temporary organization designed to search for a repeatable and scalable business model. The life of a young entrepreneur is alluring, especially for university students and graduates. At Korea University (KU), KU Start-up aims to generate one-of-a-kind, unicorn companies to lead the Fourth Industrial Revolution, guiding them on the path to innovative growth.

KU’s vision is to become a university that leads innovative growth by fostering and providing support to student-led start-ups in the technology field through its own support system named KU Start-up. KU Start-up has set its sights on discovering and nurturing potential start-ups, as well as creating a conducive environment for students. Relevant information is available on Startup π-Portal, a website dedicated to introducing KU Start-up and what it aims to do. On the website, the “KU Start-up Campus Map” depicts the facilities in which the various organizations are operated and managed. Students can find suitable divisions according to their needs in preparation for their future.

Space and Technical Support

KU is one of the first universities in South Korea that pushed for the construction of a separate space for start-ups on campus. As shown on the “KU Start-up Campus Map”, there are various resources and facilities available on campus for aspiring business owners to make effective use of. One of the most publicly well-known spaces catering to start-ups is the π-Ville, which is made up of 36 container boxes stacked together and located behind the Media Hall and the College of Political Science and Economics. It is a space for idea incubation, where students are encouraged to come up with business ideas of their own.

For a more hands-on experience, students can visit the makerspace facilities that are available. KU Makerspace is a standard makerspace, and it focuses on education, where students can learn how to make use of the various machines available to them. It also helps build the basics of hardware knowledge necessary for creative design and in-depth training to produce prototypes using various equipment in preparation for hackathons. According to the chief of π-Ville, Professor Shim Joon Hyung (Department of Mechanical Engineering), KU Makerspace is a networking workspace where one can share knowledge and overcome problems together with various people, whereas X-GARAGE is a professional makerspace that has more advanced equipment to build prototypes for already-established start-ups and businesses. Professor Shim also mentioned how there are experienced personnel to give support and feedback to start-up businesses registered in X-GARAGE.

Aside from the physical space provided on campus, technical support is also granted to all. The Technology Division consists of patent attorneys, technology transfer, and commercialization experts in Information Technology (IT), Business Technology (BT), and New Technology (NT). From discoveries in technology and its ownership to the transfer of technical skills, the Technology Division supports and manages the university’s outstanding research results.

Knowledge and Empirical Support

Established in 2018, the KU Crimson Start-up Support Group is the mothership of KU Start-up’s assistance departments. It has a systematic support system built to foster prospective entrepreneurs. Eight stages of systematic support are provided: education, competition, space origin, prototype production, mentoring, initial start-up support, overseas expansion, and sales support. Professor Shim commented that aspiring young entrepreneurs registered under KU π-Ville are also given the chance to interact with a large pool of business owners through participation in seminars and networking events hosted by KU Crimson Start-up Support Group, broadening their thinking along the way. As mentioned in an interview with various start-up companies on Startup π-Portal, KU Crimson Start-up Support Group has helped many students with funding, allowing them to focus solely on building the foundation for their businesses in their initial stages.

Education is provided for start-up companies, under the name of KU Entrepreneurship Education, through regular and non-regular curricula. For the regular curriculum, students are provided with a fixed list of lectures deemed useful under the four steps, consisting of building the foundation, learning the basics, deepening understanding, and making active use of acquired knowledge. In comparison, for the non-regular curriculum, students can choose whatever interests them from a list of lectures offered. A variety of lectures are offered for students to choose from based on their interests, ranging from carpentry lessons using computer numerical control (CNC) machines to acquiring skills in using textile processing machines. There are also a number of benefits offered when one completes the regular curriculum, such monetary incentives when taking part in start-up competitions hosted by the KU Crimson Start-up Group, as well as the issuance of a Certificate of Completion.

KU Crimson Start-up Support Group also offers counseling and consultation services, such as psychological help provided by mentors for those who are starting out and in need of guidance. Professor Shim added that any member interested in starting a business can receive counseling and KU Crimson Start-up Support Group can help connect them with appropriate organizations and institutions to suit their situation. He emphasized the fact that a lot of support such as mentoring is provided during the initial, conceptualization stage of one’s start-up, so those interested should actively make use of the opportunities afforded by the school.

In hopes of fostering a variety of entrepreneurs with fresh ideas for their start-ups, KU Start-up provides both the physical space as well as training and mental support necessary. Ambitious students with wonderful ideas blossoming and a yearning to further pursue them through a start-up company of their own can sign up for various support systems available at KU Start-up.