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EFFECTIVE ENTREPRENEURIAL EDUCATION Role of Internal Links for Student Spin-offs at KAIST Technology IncuBATOR

UNIVERSITY INDUSTRY INTERACTION NETWORK (UIIN) CONFERENCE MAY 27-29, 2013 AMSTERDAM, THE NETHERLANDS. EFFECTIVE ENTREPRENEURIAL EDUCATION Role of Internal Links for Student Spin-offs at KAIST Technology IncuBATOR. TAHIR HAMEED, Ph.D. MANAGEMENT SCIENCE DEPARTMENT

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EFFECTIVE ENTREPRENEURIAL EDUCATION Role of Internal Links for Student Spin-offs at KAIST Technology IncuBATOR

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  1. UNIVERSITY INDUSTRY INTERACTION NETWORK (UIIN) CONFERENCE MAY 27-29, 2013 AMSTERDAM, THE NETHERLANDS EFFECTIVE ENTREPRENEURIAL EDUCATIONRole of Internal Links for Student Spin-offs at KAIST Technology IncuBATOR TAHIR HAMEED, Ph.D. MANAGEMENT SCIENCE DEPARTMENT SOLBRIDGE INTERNATIONAL SCHOOL OF BUSINESS DAEJEON, SOUTH KOREA KYOUNGOCK ROH KOREA ADVANCED INSTITUTE OF SCIENCE AND TECHNOLOGY Daejeon, SOUTH KOREA

  2. CONTENT • Introduction • Promoting student start-ups and spin-offs (SSOs) • Role of entrepreneurial education programmes(EEPs) • External and internal Links of university offices supporting EEPs • Question, Methods and Data • KAIST and its Technology Business Incubator (TBIC) • Case Studies of Student Start-ups and Spin-Offs at TBIC • Stylized Facts about effectiveness of EEPs and internal links of University Offices • Implications

  3. Promoting Student Start-ups and Spin-Offs • Support for commercialization of technologies developed at university (Shane, 2004; Wright et al., 2007) • Student Spin-Offs (SSOs) are a major vehicle • Different initiatives to support commercialization and SSOs: • Technology Transfer Offices (TTOs), Technology Licensing Offices (TLOs) • Entrepreneurial Education Programmes (EEPs) • Technology and Business Incubators (TBIs), etc. • Successful commercialization through SSOs entail: • Realization of Entrepreneurial Intention (EI) into New Ventures (Gubeli and Doloreux) • Networking and links inside and outside host university (Perez and Sanchez, 2003; )

  4. ROLE OF ENTREPRENUERSHIP EDUCATON • Entrepreneurship Education Programmes (EEPs) support: • Improvements in EI (Mueller, 2011; Lorz, 2011; Cha and Bae, 2010) • Identification of opportunities (McGowan and Cooper, 2012) • Acquisition of skills and resources for new venture creation and growth (Gubeli and Doloreux, 2005; Cha and Bae, 2010) • Etc. • Universities in developing countries lag academic entrepreneurship & resources • AE and EEPs picking up momentum significantly in South Korea (Kim and Park, 2008)

  5. External and Internal Links of University Offices Supporting EEPs • Offices at Universities looking after commercialization access resources to support EEPs and SSOs through links inside and outside the university (Rasmussen and Borch, 2010; Zahra and Nielsen, 2002) • Traditional literature mainly focus developed economies and external links (Mosey and Right, 2007; O’Shea et.al, 2005; Shane and Stuart, 2002; Harmon et al., 1997) • Balance between external and internal (Rasmussen and Borch, 2010) • Internal links significant in earlier stages of SSOs and start-ups (Moray and Clarysse, 2005)

  6. Research QUESTION, METHODS AND DATA • What’s the role of internal (and external) links and resources they connect in support of SSO process in the developing countries context? • How do internal links of EEPs relatively affect the SSO process in early stages? • How do internal links of EEPs relatively affect the SSO process on tech intensity? • Multiple case studies, six student start-ups at KAIST TBIC • Semi-structured interviews, three sections, five events, inner details surrounding each • Questions on Idea formation, Participation in EEPs prior to and afterentering TBIC, and extent of support provided by internal and external links for starting-up

  7. KOREA ADVANCED INSTITUTE OF SCIENCE AND TECHNOLOGY • Established 1971specializing in science and engineering education and research • 20 deptts., 8 res. institutes, 5 affiliate schools • 8,000 students; 3,452 BS, 2,197 MS, 2,357 PhD • 842 faculty, 334 staff members • All English instruction since 2006 • Ranked among top 100 (QS rankings) • Annual R&D spending US$320 million, 2,694 domestic patents and 723 international patents • OLEV in Time’s best 50 inventions of 2010 Source: KAIST homepage (www.kaist.edu), Article updated 2009, Accessed May 2013

  8. Truth Hall KAIST Technology Business INCUBATOR • 1994:TBI/TIC, 1997: HTVC, 2006: OUIC (incl. TBIC) • 3 buildings, 12280 m2 • No. of companies incubated: 500 • No. of incubates at KOSDAQ: 10 • KAIST Startups: Graduates: 450, Faculty 38 • 3100 Domestic Patents, 800 Oversaes Patents • 300 Tech Transfers, 18 Billion KRW Royalties • Currently 11 student spin-offs incubating Munji Campus Main BLD Source: 2012 Annual Performance Report of KAIST OUIC (2013), APEC (2007)

  9. Source: 2012 Annual Performance Report of KAIST OUIC (2013)

  10. Entrepreneurial Education and Business Incubation Process KAIST z Tech Innovation Company Helping to register at KOSDAQ (After 5 Years) Additionally Incubation Promoting INNO-BUSINESS Firms (Within 5 Years) Hidden Champion Support, EBN Soft Land Programme Internal Links Promoting Would-be or Newborn Firms (Within 2 years) Global Tech Venture, Start-up Package, Start-up Education, KOTRA, KAIST Partner Institutes, Etc. Education Motivating, Identifying Ideas & Opportunities E-5, VELOCITY, Summer Camp, TechVAIS, Creative Campus, etc. Technology Business Incubation Center External Links Hidden Champion * Donate 5% of Stocks for Development Fund Jump-up Start-up Idea

  11. CASE STUDY 1: CHALK • MOOC-Massive Online Open Courseware • CEO: Joshua, BS 4-5 year Student • Idea: 2011/9, Incubating: 2012/10 • 1st Stage Prototyping • No Ent. Intention before KAIST • Organization: 5 strong http://www.playchalk.com

  12. Compact Radiation devices X-Flashpen CASE STUDY II: PARTICLA Compact Radiation devices X-µFocus • X-ray Radiation Sources/Equipment • CEO: Huh Sung-Hwan, BS, MS, PhD, KAIST • Idea: 2011/09, Incubating: 2012/04 • 1st Stage Prototyping • No Ent. Intention before KAIST • Organization: 3 strong Hyperbaric O2 Chamber

  13. CASE STUDY III: I AM COMPANY • School Apps and Education Platform • CEO: In Mo Jung, BS 2nd year Student • 2nd Stage, Finalized development of customized product • No Ent. Intention before KAIST • Organization: 18 including CEO

  14. CASE STUDY IV:Manna • Eco-Friendly Vege Factory, Climate Control • CEO: Aaron Park, BS 2nd year Student • 1st Stage Prototyping • No Ent. Intention before KAIST • Organization: 4 strong

  15. CASE STUDY V:NEW PAGE • Efficiency/Support for School Study • CEO: ByungHuk Choi, BS 2nd year Student • 1st Stage Prototyping • No Ent. Intention before KAIST • Organization: 4 strong

  16. CASE STUDY VI:CHANGUI INDUSTRY • Ventilated Safety Helmet • CEO: Sung Nam Jeon, MS KAIST • 1st Stage • Strong Ent. Intention before KAIST • Organization: 2 strong

  17. Ceo Perceptions ON effectiveness of links • External Links • Incubators • Others • Entrepreneurs • Professors/Researchers outside KAIST • Venture Capital • Governmental Organizations • Professors/Researchers at KAIST • Internal Links • Incubators • Governmental Organizations • Venture Capital • Professors/Researchers at KAIST • Entrepreneurs

  18. STYLIZED FACTS • Three types of SSOs: • Based on new or high technology developed at university • New application of existing technologies/ideas developed at university • New application of existing technologies/ideas developed outside university • No or little Entrepreneurial Intention at joining KAIST • For existing tech SSOs: strong Gov. support through internal links is perceived as key • For new or hi-tech SSOs: support is important as per stage of development/start-up • Recognize strong support of internal links to start-up but little support to advanced stages and VC • Recognize major idea and venture planning with support from external links • Incubation support internal or external remains key to all

  19. CONLCUSIONS AND IMPLICATIONS • Internal Links of EEPs affect the SSO process relatively positively in early stages • Internal Links of EEPs affect the SSO process relatively weaker in hi-tech SSOs • Institutional support plays more significant role than market links and participation • Offices and managers supporting commercialization and SSO process in developing countries should: • manage access to resources as per stage of SSO • manage access to resources as technology intensity • Support SSOs as per technology intensity, increasingly exploiting technological capabilities and resources available inside the university

  20. THANK YOU! FOR YOUR ATTENTION

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