SNU College of Engineering-Haedong Science and Culture Foundation Holds an SNU Haedong Startup Demo Day
 

 
On March 4, Seoul National University's College of Engineering held an 'SNU Haedong Startup Demo Day' where they selected 10 SNU Haedong Junior Startups for the second phase, awarded a total of 85 million KRW as business support funds and announced the achievements of the startups selected last year for the first phase. To prevent the spread of COVID-19, the number of participants were minimized and YouTube live streaming took place for online participants.
 
“The seeds of the Seoul National University Haedong Idea Factory project, which began in 2016, have grown into the Haedong Junior Company and watching how they have already produced the fruits of the 1st and 2nd phase of start-up teams is greatly rewarding. I will give it my all to provide follow-up support so that companies can grow even further in the long term,” said Youngjae Kim, Board President of the Haedong Science and Culture Foundation, who opened the event with her greetings.
 
“As much as success stories of alumni unicorn startups such as HyperConnect are emerging one after another, amidst the COVID-19 situation, we need the wisdom to prepare for the future by remembering the wise words, 'crisis is an opportunity'. I can see that the level of award-winning startups becoming higher as we continue, and I actively request follow-up investment support from early professional VCs who participated in the event,” said Dean Kookheon Char of the SNU College of Engineering.
 
“Even though we have faced the COVID-19 crisis, we strictly implemented social distancing by quickly introducing a 'non-face-to-face/face-to-face hybrid mentoring system', shutting down the start-up incubation center and promoting telecommuting of tenant companies," said Kisuk Kang, the Center Director of the SNU Engineering Consulting Center. “As a result of these efforts, 56 teams, three times more than that of the first phase, applied for the second phase and for the third phase that is to be selected in 2021, we plan to discover 22 excellent startups,” he further emphasized.
 
Seoul National University's College of Engineering and the Haedong Science and Culture Foundation signed an agreement for the “SNU Haedong Junior Support Program” in July 2019 to revitalize startups. With the 200 million won fund that was donated at the time by the Haedong Science and Culture Foundation, Seoul National University's College of Engineering is running the 'SNU Haedong Junior Support Program' and following last year's 75 million won support for 10 companies, the second phase companies will be selected this year and 85 million won will be provided this time.
 
Unlike existing start-up competitions, this program finds an early (preliminary) start-up team with great potential and enthusiasm, evaluates four months of thier activities and growth results and awards business operation funds. Representatives of five of Korea's greatest venture capitals specializing in initial corporate investment are participating as judges.
 
On the other hand, the Haedong Science and Culture Foundation raised an additional 200 million won for the 2021 program, and the SNU College of Engineering plans to recruit a team to participate in the 3rd phase of the SNU Haedong Startup Program.
 
▼ List of winners
Molecular Innovations Co., Ltd. (MI Cosmetics) (Eunhak Lim)/ ZeroOne AI Co., Ltd. (Junho Song)/ Blue Signum Corp. (Jung Hyun Yoon)/ DeepTrade Co., Ltd. (U Kang)/ Pitter Petter Inc. (Junho Park)/ WellDying (Dongkyung Shin)/ Mindhub Inc. (Haeseong Lee)/ Flat Garden Co., Ltd. (Jungwon Park)/ HayanAI Co., Ltd. (Hyerin Kim)/ Junction Med Co., Ltd. (Jimin Park)
 
▼ The late CEO Jungsik Kim established Haedong Science and Culture Foundation, Daedeok Electronics Co., Ltd., as a privately owned property to ‘cultivate engineering talent’
Since its establishment in 1991, the foundation has established the 'Haedong Award' to support scientific and engineering research and develop industrial technology, and has provided research grants to a total of 282 Haedong Award winners. Furthermore, full tuition was provided to 280 college students, and the Haedong Library was built in 20 engineering college buildings nationwide to foster talents in the science and engineering field. In addition, in February 2019, the alma mater of the late CEO Kim, Seoul National University, paid 50 billion won to establish an “AI Center” suitable for the 4th industrial era of today.

 

▲ Youngjae Kim, Board President of the Haedong Science and Culture Foundation, Kisuk Kang, Center Director of the SNU Engineering Consulting Center and Professor Jongsu Lee examining the exhibition booth.
 


▲ Youngjae Kim, Board President of the Haedong Science and Culture Foundation and Eunhak Lim, CEO of Molecular Innovations Co., Ltd.