Nine Professor Startup Teams in Seoul Campus Town Launch Development of Bio and AI Innovative Technologies

Passing on proprietary technology and investment attraction experience gained over many years to junior entrepreneurs
Leading excellent human and material resources of universities outside campus to revitalize local communities

Status of Participating Universities in Seoul Campus Town

[Asia Economy Reporter Jo In-kyung] As the number of startup teams residing in 34 campus towns in Seoul exceeds 300, professors with research achievements in specialized fields such as bio and artificial intelligence are also beginning to take on entrepreneurial challenges. Nine professors from five campus towns, including Seoul National University and Korea University, are entering the front lines of innovative startups, dreaming of becoming unicorns.

Seoul City announced on the 23rd that it plans to nurture a total of 600 startup teams by the end of this year by actively supporting not only young people such as university students and graduates, who are the main targets of existing campus town startup support, but also 'faculty startups' by professors and researchers, and 'salmon-type startups' that gain experience after graduation and return to university to start again.

Professors or professional researchers can start businesses with proprietary technologies they have developed through years of research, enabling the launch of competitive products and are considered to have a high chance of success. At Stanford University in Silicon Valley, the center of innovative startups in the United States, faculty startups are actively taking place, continuously providing innovative outcomes to Silicon Valley and strengthening the startup ecosystem.

Although faculty startups are not yet active in Korea due to insufficient support systems, passive attitudes of universities, and lack of startup culture, Seoul City plans to actively support faculty startup teams pioneering markets in innovative technology fields and make them a new driving force for campus town startups.

The campus town currently leading faculty startups is Seoul National University Campus Town. Seoul National University Campus Town, which selected 21 resident startup teams through a startup competition last month, supports four faculty startup teams developing innovative products based on bio and AI technologies: 'Enterapeutics', 'Genialogy', 'Orzo Contrast Agent', and 'Latbio'.

For the first time, a faculty startup team has moved into Korea University Campus Town, which is now in its fourth year. Professor Kim Hyun-soo of Korea University’s Department of Medical Science, who is developing a treatment to suppress muscle loss, established 'Myotech Science' last year and has embarked on full-scale entrepreneurship.

Soonchunhyang University startup team 'Baelab (Professor Bae Won-kyu)' developed a micro injection device that allows painless self-injection and was selected as one of the 'Top 10 Basic Research Support Achievements Highlighted by the Media in 2019.'

Kim Ui-seung, Director of Seoul City’s Economic Policy Office, said, "The campus town project aims to contribute to regional revitalization beyond universities by utilizing excellent human and material resources that were confined within university fences. It is very encouraging that professors with proprietary technologies developed through extensive research are starting startups in campus towns." He added, "We hope that professor entrepreneurs with diverse experiences will serve as mentors to young campus town entrepreneurs."