In the MOU, the two universities agreed to make information about patents that were obtained through research collaborations available on their websites. Additionally, there is to be increased student participation in events hosted by the two universities – KAIST students are to participate in conferences and competitions held by DTU, such as Green Challenge; and DTU students are to participate in those held by KAIST, such as Startup KAIST Global Idea Competition.

Since the 2012 International Entrepreneurship Summer Camp held at KAIST, there have been talks between KAIST and DTU on possible ways to improve innovation and entrepreneurship at their respective universities. The camp program consisted of three weeks of intensive classes and workshops, followed by an idea competition in the final week. Each team was a mix of students from KAIST and the three participating partner universities. Perhaps due to the multicultural nature of the teams, numerous creative and promising ideas were generated. Five DTU students attended the summer camp in 2012 and gave positive feedback about the outcomes of the program.

The signing of the MOU marks a more systematic and specific direction for KAIST and DTU’s future industrial collaborations. Both universities recognize the importance of innovation and the positive impact it can have on the economy, and aim to encourage its growth. Through their partnership, they hope to mutually benefit from sharing the entrepreneurial spirit.

A notable initiative that can help achieve the objectives outlined in the MOU is Startup KAIST. Its new studio space of 678 square meters, located on the third floor of the Educational Support Building (W8), is exclusively reserved for business-related facilities, and is expected to greatly support the growth of innovation and entrepreneurship at KAIST. It will now also provide many opportunities for DTU students to share their ideas and perhaps launch their own projects. The official opening ceremony for the Startup KAIST studio is to be held on April 7.