Anyang University, Sinseong University, and Ulsan College of Science Newly Selected for School Enterprise Support Project

Generating Revenue Through School Technology Commercialization
27 School Enterprises Selected for Continued Support

[Asia Economy Reporter Han Jinju] Anyang University, Sinseong University, and Ulsan College of Science have been newly selected as school enterprises.

On the 28th, the Ministry of Education and the Korea Institute for Advancement of Technology announced the results of the 2022 new standalone school enterprise selection for the 3rd phase (2020?2024) school enterprise support project.

A school enterprise refers to a department within a school that directly commercializes the school's technology and research achievements or generates revenue by providing services. The school enterprise support project has been promoted since 2004 to support business management and entrepreneurship practice by linking school enterprises with educational curricula.

Since 2020, the 3rd phase project (2020?2024) has been underway, and a mid-term evaluation was conducted this year. Based on the mid-term evaluation results, the performance of standalone and consortium-type school enterprises was assessed, and support will be discontinued for approximately the bottom 10% of enterprises.

This year's budget for the school enterprise support project is 6.672 billion KRW, which will be provided for up to three years to 27 school enterprises that passed the mid-term evaluation and 3 newly selected school enterprises. Consortium types receive around 400 million KRW, and standalone types receive around 200 million KRW in budget support.

Among the 27 school enterprises continuing to receive support, the consortium types include the consortiums of Dongseo University, Bucheon University, Wonkwang University, and Jeonnam Science University. The standalone types include 12 general universities and 11 vocational colleges.

The Ministry of Education plans to enhance the efficiency of performance management for school enterprises by establishing and operating a school enterprise website and an integrated performance management system, and to strengthen customized counseling support tailored to the management environment and marketing level of school enterprises.