Startup Management

Startup Incubation Center and Entrepreneurship Center

Startup Incubation Center

▶ Gwanak campus: [Yeongu Park] Startup Incubation Center (operated with 발전기금), Golden Helix, New Technology Startup Network (mostly inhabited by student startups)

▶ Yeongeon campus: College of Medicine Startup Incubation Center, College of Dentistry Startup Incubation Center

▶ Suwon (original College of Agriculture and Life Sciences): College of Agriculture and Life Sciences Startup Incubation Center

 

Entrepreneurship center

▶ Established June, 2012 within the College of Engineering

▶ Full-time use of part of the Global Engineering Education Center (planned to be completed by the second-half of 2012)

 

Application of Tenure

▶ Tenure companies to be selected according to the tenure evaluation criteria of each startup incubation center

▶ Occupancy period is two years in general, while any extension is subject to the decision of each incubation center

 

PIC and contact information of each center

▶ Yongu Park Startup Incubation Center: Woo Joo Hyun / 02-880-7892 / wjhstar@snu.ac.kr

▶ Golden Helix: Kim Yoon-Jeong / 02-880-8290 / sys585@snu.ac.kr

▶ New Technology Startup Network: Yim Eun-A/02-880-7026 / tin1004@snu.ac.kr

▶ College of Medicine Startup Incubation Center: Kim Hwa-young / 02-3668-7017 / kimhway@snu.ac.kr

▶ College of Dentistry Startup Incubation Center: Park Hee-sun / 02-740-8613 / phsun@snu.ac.kr

▶ ollege of Agriculture and Life Sciences Startup Incubation Center: Lee Chil-sook/031-294-8526 / mermaid4@snu.ac.kr

 

Incorporation Procedure and Venture Certificate

Startup by Professor and Researcher
 

Eligibility for Professor Startup

▶ Professor, Associate Professor, Assistant Professor, and Full-time lecturer

▶ Researcher of a research center affiliated with the university

▶ Excluded : Dean, Adjunct Professor, Emeritus Professor, Part-time lecturer, Administrative staff and Teaching assistant

 

Application for Concurrent Position

▶ Faculty members must obtain approval to hold a concurrent position in case he/she wishes to hold a position of board member or higher at a company

▶ Draw up a concurrent position approval request

▶ Submit request to the academic affairs office division of academic affairs at headquarters via the academic affairs administration office of each college (school)

▶ Documents : Concurrent position approval request, venture startup confirmation, articles of incorporation, certified copy of register, memorandum etc.

 

Approval of Laboratory Startup

In case an on-campus laboratory is to be used as the office for a company, a separate request for approval of laboratory startup must be drawn-up and submitted to the financial division of the secretariat

 

Detailed procedure for Professor startup

 

 

Select Business Field and Draw up Business Plan

Establish Business Plan

Select Business Field
·Decide business category and business item on a relevant business item Decide a relevant business item
·Investigate business potential Review from an objective point of view

Establish Business Plan
·Decide a business size ·Decide type of corporation ·Organize startup members and organization ·Decide other business key points

Draw up business plan

Business plan should include the size of the business, type of corporation, startup members and organization, financing plans etc.

 

Apply for Confirmation as a Potential Vanture Corporation

Benefits of the Potential Venture Corporation Confirmation system

100% exemption of corporate tax

Registration tax

0.4% of the initial capital stock (three times the amount of 0.4% in case the corporation is established in a big city)

Example) In case the initial capital stock is 100,000,000 KRW

▶ Registration tax : 0.4% of 100,000,000 KRW = 400,000 KRW

▶ Registration tax (big city) : 0.4% x 3 of 100,000,000 KRW = 1,200,000 KRW

 

Eligibility

▶ A person who is preparing for establishing a corporate body or registering as an entrepreneur in order to create a venture corporation, or a person who has done so within the past six months

▶ A person who has been evaluated by the Technology Finance Corporation or Small and Medium Business Corporation as a having excellent technological potential

※ Detailed application procedures for potential venture companies ( http://www.venturein.or.kr )

 

Application for Potential Startup Approval

Required Documents

Application for potential startup approval, business plan etc

Procedures

▶ Draw up an application for potential startup approval according to the 'Seoul National University regulations regarding startup support'

▶ Submit business plan, potential venture confirmation with relevant evidential documents attached to the Office of Research Affairs Research Promotion Division (SNU R&DB Foundation)

 

Establishing a Corporate Body

Procedure for establishing a corporate body  

 

Other procedures after establishment

▶ Declare to National Health Insurance Corporation and Ministry of Employment and Labor

▶ Property registration, declaration of hiring rules, declaration of establishment of place of business, declaration of workmen's compen sation, declaration of National Health Insurance Corporation etc.

   

Approval for Use of Government Property

Required documents

Application for approval of laboratory startup (establishing a factory) business plan, lay-out plan of manufacturing facilities etc

Approval for use of government property is required in case of creating a startup in a laboratory or other on-campus space

Procedure

▶ Draw up application for approval of laboratory (factory) establishment

▶ Attach a business plan and submit to the Division of Finance of the Secretariat

Other items to include

▶ Affiliation of the applicant, incubating institution, lay-out plan, main items to be developed, name of the venture corporation

※ The above procedures are unnecessary in case the startup does not take place on-campus, business registration to be done by lease contract

 

Registration of Entrepreneur

Registration deadline

▶ Within 20 days of the opening of business

▶ Disadvantage in case of not registering

▶ Additional tax

▶ Input tax deduction not allowed

 

Required documents

▶ One application for registration of entrepreneur

▶ One business approval certificate or registration certificate of certificate of declaration

▶ Copy of application for approval of business or business plan is required in case of registration before open of business

▶ A document that can provide evidence that a business is jointly operated in case two or more persons are jointly involved in the business venture

▶ One lease contract

▶ One lay-out plan (in case of lease of all or part of a building that is subject to the Protection of Commercial Building Tenants Act)

▶ Copy of corporate registration, articles of incorporation and list of shareholders

 

Place of Issue

local tax office civil affairs

 

Application for Concurrent Position

Main Points

▶ For corporations that have obtained confirmation of reserve venture corporation, confirmation of venture corporation, confirmation of small-mid size corporation after opening of business, school faculty are allowed to hold concurrent position as representative or board member within the period during which the confirmation is valid

▶ Term stipulated within the articles of incorporation (holding of concurrent position is allowed within the period during which the confir mation is valid, and the period may be extended in case the confirmation is re-issued)

▶ Limited to two companies inclusive of non-executive directors, as per professor

 

Procedures

Send official correspondence of permission requests for respective corporations to hold concurrent positions → Attach respective professor's related documents and filling out the application for concurrent position → Approval of College (Graduate school) Personnel Committee → Recommendation to President of University by the Head of College (Graduate school) → President's approval

   

Required documents

▶ A set of official correspondence of the permission requests for respective corporations to hold concurrent positions

▶ Application for the permission to hold concurrent positions and a copy of the verification documents of application

▶ Venture corporation confirmation documents (or back-up venture corporation confirmation documents), small and medium enter prises confirmation documents, a copy each

▶ A copy of the officer's liability insurance policy (or notarization)

▶ Business registration certificate and a copy of the register

▶ A copy of the articles of association

▶ A copy of the Personnel Committee Meeting's minutes

 

Code of conduct

Including executive directors, representatives, officers, the hours of all external activities should be less than 1/5 of the total working hours (within 8 hours per week as a rule) and should not interfere with the fulfillment of the main tasks (education and research)

    

Application of venture corporation confirmation

   

Objectives

▶ Tax system and legal benefits upon confirmation of venture corporation

▶ According to the 'Regulations of Seoul National University's start-up assistance', the application for concurrent position and the venture corporation confirmation documents must be submitted in order to gain permission to hold concurrent position as the repre sentative or executive director of a venture corporation

Including executive directors, representatives, officers, the hours of all external activities should be less than 1/5 of the total working hours (within 8 hours per week as a rule) and should not interfere with the fulfillment of the main tasks (education and research)

 

Requirements

Type of venture	Requirement for confirmation	Agency for confirmation
Venture Investment Corporation	- Invested amount from venture corporation must exceed 10% of the capital amount - Venture corporation must maintain investment for more than 6 months - Investment amount must exceed 50 million KRW - Venture investment corporation: venture capital firm, new technology finance firm, venture fund, venture exclusive firm	Venture Capital Association
Research Development Corporation	- Possession of corporate R&D center - Research development expense must exceed by 5-10% compared to the sales - Confirmation of excellent business value assessment by Korea Technology Finance Corporation and Small and medium Business Corporation	Korea Technology Finance Corporation; Small and medium Business Corporation

Type of venture	Requirement for confirmation	Agency for confirmation
Technology assessment assurance and loan corporation	- Korea Technology Finance Corporation; Small and medium Business Corporation's technical evaluation guarantee and approval of true credit loans - Excellence approval of technical evaluation guarantee results by Korea Technology Finance Corporation and Small and medium Business Corporation’s - Guarantees and loans exceeding 10% of the total assets of the companies - Guarantees and loans exceeding 80 million KRW (above 40 million KRW for enterprises under a year since start up)	Korea Technology Finance Corporation; Small and medium Business Corporation

※ Venture corporation confirmation application ( http://www.venturein.or.kr )

 

Departments-in-charge and contacts

SNU R&DB Foundation's Intellectual Property Rights Headquarter and Seoul National University Technology Holdings

▶ Intellectual Property Rights Headquarter, Jo, Seo-Yong, Head of department (Extension 2028, sycho87@snu.ac.kr)

▶ Seoul National University Technology Holdings, Baek, Dong-Heon, Head of department (Extension 2027, baikdh@snu.ac.kr)

 

In-school departments

▶ Approval of request to hold concurrent positions: Educational affairs department of Academic Affairs (Extension 5024)

▶ Approval of laboratory factory: Finance department of the Secretariat (Extension 5120)