Market experts will help to develop new technologies and business start-ups at GIST

□ In order to solve the employment-related issues that are constantly being raised by the 4th Industrial Revolution, a new type of technology commercialization in which ordinary citizens participate directly in university research is drawing attention.

□ The Science and Technology Applied Research Group at the Gwangju Institute of Science and Technology (GIST, President Seung Hyeon Moon) will present the Innovator Participation Program (IPP), which is an ambitious laboratory-based technology commercialization program GIST has prepared to aggressively address new paradigms created by of the 4th Industrial Revolution.

∘ This is considered significant because finding solutions for common social problems through this approach is not very common with the science and tech community.

∘ If GIST's excellent researchers, research facilities, equipment, and research expertise accumulate as a result of papers and patents, it is necessary to use a venture company to solve social problems and produce competitive products and services.

□ The Technical Expert Group LAB will present GIST's scientific and technological achievements to various professional groups and associations. The LAB and market experts will jointly develop additional technologies and business model .

∘ GIST LAB participates in this program with excellent technologies that are capable of being transferred to industry. If partnerships are created through this matching process with outside experts who have commercialization experience in various fields and industries, the combined benefits would be advantageous to all parties.

∘ The combined 'Laboratory - Market Expert' team will be matched through a selection process for the final technical commercialization. If the team is finally selected, the technical commercialization program will be promoted for 6 months.

□ A ceremony was held on August 29, 2017, between the LAB researcher, the consortium team of the outside market experts, and GIST. Five intials teams will be participating in the pilot project in 2017, and five teams, including Professor Joon Ha Kim and representative Jae-hee Park signed the agreement.

□ After signing the agreement, each team will receive a total of 80 million KRW for 6 months. The market experts participating in the program will undertake technology start-ups and receive start-up funding for technology transfers and investment promotion. The technical expert group of GIST LAB will maintain cooperation with market experts, such as technical consulting, technology development, and technology transfer to enable market experts to successful create technology start-ups. This is a program that combines the collective intelligence between technology experts and market experts in the real world.

□ Jae-hee Park who attended this agreement as an representative for innovators has been involved in environmental design, venture business, and consulting for business support for more than 30 years. He plans to develop a powerless water purification system using a cylindrical separator membrane and then supply it to Southeast Asia.

∘ Jae-hee Park said, "I dreamed of starting a new business by utilizing my experience in environment and consulting, but I could not put it into practice. Now we have the resources to complement the technology of powerless water purification systems in the GIST LAB to grow into a company that contributes to the nation and to the entire human race."

□ GIST Business Incubator Director Seung-guen Gi said, "I think it is time for serious innovation in the current science and technology sector and also in industry that wants new technology to thrive. I will tirelessly support this program with the heart of a true innovator."

□ Meanwhile, GIST is creating an environment to strategically increase its expertise in the bio-sector, robotics, new materials, drone and AI (artificial intelligence) fields. GIST will train groups of experts in these technologies, develop cutting-edge technologies, and commercialize those technologies.