Startup KAIST, the startup support organization on campus, announced its goal of strengthening support for startups and producing 100 new startups this year. Startup KAIST aims to achieve this goal through three main projects: Investor Relations (IR) Consulting, Fast Prototyping, and helping startups expand their businesses abroad. 

Led by Startup KAIST’s Director Hyunmin Bae, the IR Consulting team is composed of experts in the startup field and has been recruiting participant startups since January 22. With the motivation to support startups founded by outstanding KAIST faculty, the IR Consulting team helps these startups analyze marketability and economic feasibility to attract investment. Startups can also receive additional help regarding marketing, implementation of business plans, and developing exit strategies. 

Startup KAIST’s Fast Prototyping project targets startups initiated by KAIST faculty members and students in their early stages. Despite having completely developed their core technologies, startups often face early challenges in developing product prototypes due to resource constraints. Fast Prototyping provides necessary support in cases where commercialization or product development is hindered due to issues relating to manpower or capital. Under the guidance of exclusive mentoring professors and a support committee, the “one-stop” process from product planning to design, engineering, manufacturing, and verification enables startups to focus on refining and advancing their core technologies, and ultimately accelerating the market launch of innovative products.

Startup KAIST is also actively building networks with investment institutions in France, Singapore, Switzerland, and the United States to meet their goal of fostering global connections and facilitating international expansion for startups. The process involves conducting developmental activities in Korea to minimize costs while leveraging local subsidiaries for foreign investment and global marketing efforts.

Director Bae shared his well-grounded ambitions for Startup KAIST, commenting, “Ever since the implementation of the ‘1 Lab, 1 Startup’ culture in KAIST in 2021, we have had a yearly average of 15 startups. Last year, we had a record high of 70 startups, if we were to include those in their preparatory stages. Continuing [the current] trend of systematic and wholehearted support for entrepreneurship, we will spare no effort to produce 100 startups this year.”