KIU was selected as the university to represent Youngnam and Kangwon area. The Small and Medium Business Administration and Start-up Promotion Agency plans to foster app businesses through collaboration and subsidies.
Industry-leading start-ups applied for the 'Project for Fostering App Start-up Companies(PFASC)', targeting leading incubation universities and app creating companies to support app development education. KIU was selected after tough competition between nine universities from Youngnam and Kangwon area. Only four universities were selected nationwide. The other representatives were Dongguk university, Korea Polytechnic University(from the capital area), Kunyang university(from the Chungcheong and Honam area).
The KIU app business center offers RED-APPLE(Regional Development of App Start-up Life-cycle Ecosystem), and will foster star app business. KIU will receive four-hundred-eighty million won yearly for preparing autonomous programs such as managing web idea banks, linking between capstone design and curriculum, and setting up interdisplinary app development.
KIU has already trained six app companies through the 2011 예비기술창업자 project, the university also supports these businesses to become successful by providing a variety of programs like arranging business start-up positions, a stopgap fund, and a mentoring system. Busit-dol, a typical app start-up business, has developed about 40 smart TV apps and achieved steady sales results. They occupy 2.4% of the global market.
KIU is leading the smart app field by establishing the first in Korea Smart Campus which every staff member can use to obtain an official approval, e-mail, use the message board.
Lee, Gwang-gu, the head of both the business incubation center and the said, "As the only app start-up institute in the Youngnam area, we are planning to operate in conjunction with the existing start-up leading university project to absorb new start-up demand, create new jobs, build global competitiveness in the Korean software industry and set an example as the leading start-up model."