The 2024 Global Entrepreneurship Summer School (2024 KAIST GESS), hosted by the Office of Global Initiatives under the KAIST International Office (Director Man-Sung Yim), was held for the third time. This program allows students to visit Silicon Valley, a global startup hub, to directly experience its famous startup ecosystem and develop their capabilities for global expansion. A total of 20 students were selected through applications, interviews, final presentations, mentoring, and peer evaluations. Additionally, 17 students from the KAIST Impact MBA course at the KAIST Business School also participated.

Before starting the Silicon Valley program, participants received mentoring on business model development and pitching advice from a senior entrepreneur at KAIST for about two months, beginning last May. Afterward, they developed business items for each team at KAIST’s main campus in Daejeon. For seven days, starting from June 23rd, workshops were held under the themes of global entrepreneurship, learning through failure, capital and network, and startup culture at KOTRA Silicon Valley Trade Center, JP Morgan, and Plug and Play Tech Center. This program's lecture series provided prospective entrepreneurs with the opportunity to systematically learn the mindset and gain the experience needed to start a global business.

The participants also visited local companies and gained experience in the field of global technology startups. Visits included Bear Robotics (CEO John Ha), Soundable Health (CEO Cathering Song), ImpriMed (CEO Sungwon Lim), Phantom AI (CEO Hyunggi Cho), B Garage (CEO Aiden Kim), and Simple Steps (CEO Doyeon Kim). Lectures contained vivid experiences from Silicon Valley CEOs and company tours boosted the students' passion for entrepreneurship. In particular, Doyeon Kim, CEO of Simple Steps, which helps prevent career breaks for Korean female immigrants in Silicon Valley and allows talented female immigrants to demonstrate their abilities in society, said, “As a KAIST alumna entrepreneur, it was meaningful to share my experience with this generation of students who dream of starting a global business and creating social enterprises in the United States.”

This program also included a tour of Silicon Valley's big tech companies that have made a significant impact on the digital ecosystem through technological advancement and innovation. This included Broadcom, which maintains a strong global presence in the semiconductor and infrastructure software technology fields. At the invitation of Chairman Hock Tan, GESS participants had the opportunity to attend his lecture and ask questions. Chairman Tan, who received an honorary doctorate in engineering from KAIST last February, emphasized that experiencing failure and giving consistent effort over a long period of time are more important than anything else in order to grow as a global entrepreneur, and that technologies influencing the global market evolve over generations.
 

< Photo. Group photo of GESS 2024 participants at Broadcom with Chairman Hock Tan (center) ⓒBroadcom>

As part of this program, participants conducted a volunteer program called 'Let's play with AI+ Tech' with the Sunnyvale community in Silicon Valley and Foothill College to help grow together with the community. Through this program, GESS participants cultivated the virtues of a global leader. In this volunteer activity, low-income elementary school students and parents from the Sunnyvale community participated in chatbot training led by KAIST students, providing an opportunity to work with underprivileged groups in the local community.

In the final pitching event, the highlight of the program, local venture investors from Silicon Valley were invited as judges and evaluated the pitches for each team's business items. The participating students, who developed their own business models while receiving advice through face-to-face mentoring from a professional accelerator in Silicon Valley, showcased their creative and innovative ideas, presenting themselves as future global entrepreneurs. Merey Makhmutova (BS in Civil and Environmental Engineering) from the K-Bridge team, who won the final pitch, expressed her ambition: “Even before GESS pitch day, our team kept refining the pitch deck as we attended the lectures and benefitted from the mentoring. Our intense teamwork was a significant reason why we ultimately won first prize.” She added that K-Bridge aims to win an award at the upcoming UKC Pitching Competition and expressed her gratitude for being able to participate in this program. Arseniy Kan (BS in Electrical Engineering) from the KAIST Enablers team, who took second place, said, “The 2024 KAIST GESS Program became the most unforgettable and precious opportunity of my lifetime, and I dream of using this opportunity as a stepping stone to becoming a global entrepreneur.“ Additionally, Kangster (CEO Kang Kim), who won the Impact MBA final pitching session, had the opportunity to secure a meeting with a local investment company after their GESS final pitch.

The 2024 KAIST GESS was held in cooperation with the KAIST International Office, the KAIST College of Business, and Startup KAIST. Director Man-Sung Yim from the Office of Global Initiatives, who hosted the event, said, “KAIST students will grow into leaders with global influence and contribute to the international community by creating global value. At the same time, we hope to raise the international status of our university.” Professor Sangchan Park, who led the 17 Impact MBA students in this educational program, added, “Meeting with companies leading the global market and visiting Silicon Valley has been a valuable learning experience for students aiming to start a global startup.”

KAIST plans to continue promoting its global entrepreneurship education program by enriching its curriculum each year and helping students grow into entrepreneurs with the virtues of global leaders.