GIST Strengthens Support for Technology Startups

[Asia Economy Honam Reporting Headquarters Reporter Lee Gwanwoo] Gwangju Institute of Science and Technology (GIST, Jiseuteu) announced on the 30th that it has reestablished its technology startup support system to provide systematic information sharing and one-stop startup services for technology entrepreneurship.

The GIST Startup Promotion Center produced the 'GIST Startup Guidebook' covering everything from startup to technology commercialization and overall corporate support, based on years of experience in startup support.

Additionally, through an accelerating program, it established a one-stop service function for intensive startup support by utilizing a direct guidance method from professional investors, linking investment from the idea stage.

The accelerating program, which is a key focus of the GIST Startup Promotion Center, supports growth into successful tech startups through commercialization-focused mentoring, going beyond simply discovering excellent research outcomes in laboratories and providing funding.

In the process of discovering research outcomes, professional investors visit GIST laboratories directly for consultations, and the discovered research outcomes are directly linked to GIST’s development project programs.

Last year’s major achievements include direct investments of 470 million KRW and 200 million KRW raised by Answer Co., Ltd. and Olive Bio Therapeutics Co., Ltd., respectively, and their selection for the TIPS program.

Furthermore, Poel Co., Ltd. and the student startup company SB Bioscience Co., Ltd. received direct investments of 200 million KRW and 40 million KRW, respectively, and are expected to be recommended for this year’s TIPS program.

Plans are also underway to strengthen the technology startup support system to expand the base of startup culture.

In line with the non-face-to-face trend, GIST expanded the activities of existing startup supporters online, established a video production studio for diverse media production, and will provide a service (Startup A to Z program) that accelerates understanding of the entire startup ecosystem from the ideation stage where startups begin to corporate establishment and investment stages for students.

Operation of student startup clubs will go beyond the conventional support of general activity expenses by providing differentiated support based on the feasibility and concretization process of items, thereby strengthening flexible club activities and operations to discover excellent student startup companies.

Jo Byungkwan, head of the GIST Startup Promotion Center, said, “For more systematic startup support services at GIST, which has outstanding startup achievements, we will continuously communicate with members and consider and strengthen what is needed on the ground.”

This content was produced with the assistance of AI translation services.