Department of Global Management, "2020 Startup CEO Challenge" Completed
- 경영대학
- Hit366
- 2021-02-17
The Department of Global Management has been conducting business camps and global camps to expand students' knowledge by visiting overseas countries such as Singapore and the United States every vacation. However, due to the continued Korona 19, it is impossible to operate existing overseas visiting programs, and various non-face-to-face global programs are planned to replace them.
With Professor Shim Soo-ok of the Department of Global Management at the center, a new non-face-to-face competition "2020 Startup CEO Challenge" was held to discover business ideas of students interested in venture start-ups and provide start-up opportunities as prospective start-ups. As shown in the subhead of "Pitch your startup ideas to industry experts in Silicon Valley," the contest allowed students to form a team to present their startup ideas in front of Silicon Valley start-up experts and learn planning and persuasion to attract overseas investment.
[Photo 1] Startup CEO Challenge Web Banner
The contest was applied from November 4, 2020, and 45 students participated in the contest for about a month despite being in the middle of the semester. Before participants presented their business ideas to Silicon Valley start-up experts, they invited two incumbent CEOs to conduct two webinars to get tips on selecting topics and establishing a business model.
First, CEO Yoon Lee, CEO of March 5, and David Koretz, founder of Plum, a world-class wine delivery company, met online with students under the theme 'How to Launch an Idea, the Silicon Valley Way.' While honestly sharing his failure to start a business and successful experiences, he provided practical help to students who were interested in starting a business. Park Hyung-jin, CEO of Breezm, a local company that produces and sells customized glasses to customers with the next webinar, gave a special lecture. During a Q&A session with students, they consulted on how to identify and analyze customer needs.
[Photo 2] David Koretz (CEO, Plum) is hosting a webinar.
[Photo 3] Hyeungjin Park (CEO, Breezm) is hosting a webinar.
Students who gained insight into startups through two webinars submitted a startup proposal and applied for the preliminary round of the contest. As prospective CEOs, 36 students (10 teams) have melted consumer needs analysis, idea development, business model initiatives, and market launch strategies into their own business ideas.
After a week-long review, five teams qualified for the finals, and three Silicon Valley start-up experts, Serhat Cicekoglu (CEO, Sente Foundry), Timothy Morey (VP, Frog) and Yoon Lee (CEO, March 5) were invited as judges on December 11, 2020.
[Photo 4] Students Park Hyun-moon and Lee Ji-soo of the Department of Global Management presenting business proposals in English to the panel of judges and Professor Shim Soo-ok;
The first place winner was the "Ease-Take" team (Lee Sang-min, Kim Ji-yeon, Jung Woo-sung, Yang Ye-ran and Han Joo-won), who presented a drug-taking service app for busy modern people. It went to 'Unibus' team (Park Hyun-moon and Lee Ji-soo), who proposed a real-time bus payment system as the second place. The "Vecipe" team (Han Deok-in, Kang Hyun-mo, Baek Ji-soo, and Lee Soo-min), which planned a recipe app for Vegetarian, won third place. Each person received 500,000 won, 300,000 won, and 100,000 won each.
In response, Han Duk-in's team said, "It was not easy to prepare for a start-up, but it was a very useful and enjoyable time." Thanks to this, interest in start-ups has grown and the world seems to have opened up a little. I hope there will be more events like this in the future in the Department of Global Management," said Lee Sang-min's team, "It was a valuable opportunity to learn how to identify problems from the perspective of consumers, use them as new opportunities to refine and expand business." And it was meaningful to exchange feedback from people who were in the field, and it helped me make future career decisions because I could develop understanding and interest in startups as a whole."