Seoul National University's College of Engineering (Dean Kookheon Char) announced on August 12 (Thursday) that they have signed an agreement to form “The First SNU Engineering Technology Unicorn Excavation Investment Association” on the 4th (Wednesday).
 
In April, Seoul National University's College of Engineering promised continued cooperation with five investment institutions specializing in initial investment, including Seoul Techno Holdings, Inc. and this project is the first project to be carried out as a follow-up implementation.
 
In addition, for the past several years, the “Seoul College of Engineering Startup Support System” has been established to foster talents for technology start-ups, and has consistently found and supported excellent technology start-up talent through various start-up support programs such as “SNU Haedong Junior Startup Support Program” and “SNU Dongseo Produce 34”.
 
However, as the staged venture funding is a necessary prerequisite for the outstanding startups discovered in this way to take a further leap forward, Seoul National University's College of Engineering decided to create a fund to directly invest in early-stage technology startups.
 
The operation of the investment association will be undertaken by "Seoul Techno Holdings, Inc.," an investment firm with a high understanding and expertise in Seoul National University's technology holdings and one that shows excellence in recent investment performance.
 
The biggest feature of this investment association is the establishment of a virtuous cycle system to revitalize startups by combining both investment and donation.
 
Until now, venture investments have solely pursued profits, while university donations consist of separate structures and participants that rely entirely on the voluntary participation of alumni.
 
On the other hand, this investment association is structured to automatically donate a portion of its investment profits to the Seoul National University College of Engineering Development Fund and if one wishes to contribute funds to an investment association, one must promise to donate a portion of your profits.
 
This will provide a good opportunity to actively participate in the formation of an investment association for Seoul National University alumni entrepreneurs, SNU professors, potential development fund donors, conglomerates and organizations interested in technology startups at Seoul National University of College of Engineering, who have been finding it difficult to be active with donation activities.
 
Seoul National University's College of Engineering and Seoul Techno Holdings, Inc. will recruit individuals, companies, and organizations that wish to invest in this investment association from now to the end of this year in order to actively start investing in excellent startups from the beginning of 2022.
 
As this investment association is the first, it will continue to create follow-up investment associations such as the second and the third, depending on the trend of investment.
 
The size of the first investment association is planned to be around 10 billion won, but it has been known that alumni who have heard of the association are already reportedly calling for investment, and there is a possibility that it will be made larger than expected.
 
“This will be the best opportunity for excellent startups to grow into unicorn companies to revitalize not only Seoul National University students but also the technology startups of its professors. In particular, the investment revenue will be returned to the university and is sure to be used to continuously discover companies so that the excellent technology of Seoul National University will not be wasted,” said Dean Kookheon Char of Seoul National University's College of Engineering.
 
"It is a great honor to have the opportunity to run an investment association based on the technology at Seoul National University's College of Engineering, and I will do my best to make the best use of this opportunity to achieve excellent investment returns through investment in outstanding startups. I hope that a large part of the investment returns will help raise the Seoul National University development fund," said Seung Hwan Mok, CEO of Seoul Techno Holdings, Inc.
                    
Through this, Seoul National University's College of Engineering has secured a solid foundation to accelerate the search for talented individuals and companies with the help of competent investment companies and alumni companies.
 
Meanwhile, due to the COVID-19 outbreak, the signing ceremony was kept simple where Dean Kookheon Char and Seung Hwan Mok attended and exchanged their signatures.