KU Holdings provides support to boost science and engineering researchers’ technology-based startups
Subsidiaries achieve successful sponsorship of KRW 2.65 billion within three months of establishment
KU Holdings also provides active support to value creation through various technology development
The subsidiary companies of Korea University Holdings (Co-president Soo-Won Kim and Seung-Pyo Hong) have been recognized for their achievements in receiving KRW 2.65 billion in funding within three months of their establishment through the 'U-Tech Valley Program’ operated by the Technology Assurance Fund.
T-Labs Corporation a subsidiary company of KU Holdings, was established by Professor Nakju Doh (School of Electrical Engineering) with an aim to commercialize portable 3D interior mapping technology. The company was founded with the capital of KRW 50 million in March 2017. T-Labs was born when Professor Doh was in the midst of transferring his technology overseas while linking with KU Holdings. Another subsidiary named Immunomax Corporation was founded by Professor Se-Ho Park (College of Life Sciences & Biotechnology) in order to develop a system that efficiently cultivates virus vaccine used in experiments.
As part of fostering its subsidiaries, KU Holdings applied for the U-Tech Valley Program in February and has been finalized for receiving funds amounting to KRW 1.65 billion for T-Labs and KRW 1 billion for Immunomax. In case of T-Labs, KRW 150 million out of the total amount that it received was not a finance guarantee, but was directly invested by the Technology Assurance Fund. The company was recognized for its high potential for success in commercializing its corresponding business, and it is expected to receive further investment in the future.
By deploying business personnel reinforcement within these subsidiaries, KU Holdings did not spare any support. KU Holdings demonstrated its effort in supporting business incubation, prototype development, and startup space as well as business and financial planning mentorship to its subsidiaries.
As a result, T-Labs and Immunomax was able to gain a promising foothold for future advancements. Based on their fundamental and unique technologies, they were able to get a step closer in becoming value-creating companies on the world stage through developments in AI, robotics technology, and virus cultivation technology. The two companies are now preparing to establish foreign branches and are expected to receive continuous support from KU until they reach and enter a certain path within their respective business.
Besides receiving support from the U-Tech Valley Program, KU plans to provide practical support to technology-based startups including, but not limited to, patent application, prototype development fee, startup space, and startup mentorship. In the near future, KU plans to take the lead in offering support in stabilizing technology based startups by securing investment resources and forming university startup funds.
The ‘U-Tech Program’ operated by the Technology Assurance Fund is a program that supports R&D and business capital with up to KRW 3 billion in order to support technology based startups established by professors and researchers in the field of science and engineering. It is a program that encourages entrepreneurs to experience challenge without worrying about possible business failure through the exemption of joint guarantee.