Ministry of SMEs and Startups Operates 'Joint Graduate School of Entrepreneurship' with 3 Universities... Supports On-site Education in the US

Sungkyunkwan University, Pusan National University, and Hanbat National University Participate
'Startup Dormitory School' Also Offers One Course at Draper University in the US
Each University Specializes in Areas Like Basic Startup Skills and AI Technology
Graduates Receive a Master's Degree from a Specialized Graduate School... Graduation Thesis Replaced by Business Plan

[Asia Economy Reporter Junhyung Lee] The Ministry of SMEs and Startups announced on the 5th that it will hold a joint startup graduate school operation agreement ceremony together with Sungkyunkwan University, Pusan National University, Hanbat National University, and Draper University in the United States. The joint startup graduate school is a graduate school where universities operating startup graduate programs jointly plan and operate the curriculum. Each university opens its specialized courses to students of other universities' startup graduate schools and mutually recognizes credits for students who complete those courses.

This year, the domestic universities operating the joint startup graduate school are Sungkyunkwan University, Pusan National University, and Hanbat National University. They divided specialized areas such as basic startup capabilities (Hanbat National University), artificial intelligence (AI) technology (Pusan National University), and management and commercialization (Sungkyunkwan University). Students in the joint startup graduate school receive a master's degree from a specialized graduate school after completing two years of practical, hands-on education. They recruited 20 students this semester, and classes began on the 2nd. The Ministry of SMEs and Startups plans to review improvements and expansion of the joint startup graduate school based on the results of this pilot operation.

Draper University in the U.S. operates one course (3 credits). All 20 students can take this course. The course consists of four weeks of online education and four weeks of offline education, with students receiving offline education in Silicon Valley, USA. The Ministry of SMEs and Startups covers all expenses related to the local education. Draper University is a residential school established in 2012 by famous Silicon Valley venture investor Tim Draper to nurture startup entrepreneurs. To date, it has produced over 350 startups from 68 countries.

Unlike general startup graduate schools, the admission requirements are somewhat stricter. Existing startup graduate schools allowed anyone who wanted to receive startup process education to enroll. In contrast, the joint startup graduate school selects only prospective entrepreneurs or CEOs of early-stage startups who need education. According to the Ministry of SMEs and Startups, this allows for a focus on practical startup education programs.

Graduation theses are not required. However, admitted students must submit a business plan upon admission and revise and supplement it during the course to be recognized for graduation. The three universities operating the joint startup graduate school will form a joint review committee to examine the specificity and feasibility of the business plans and decide on graduation approval.

Meanwhile, all three universities participating in the operation of the joint startup graduate school are lead institutions for the Ministry of SMEs and Startups' Early Startup Package project. Since last year, the Ministry has added 'startup graduate school' as a detailed program option for lead institutions of the Early Startup Package project to support universities' operation of startup graduate schools.

Cha Jung-hoon, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, said, “Until now, there were not many places where prospective entrepreneurs could systematically and professionally learn about the startup preparation process and startup knowledge,” adding, “We expect the joint startup graduate school to become a new educational model that can solve this problem.”