The first YVIP Global Conference was held November 3 at Yongjae hall with the support of AmorePacific. The conference consisted of three sessions: education, practice and policy, and academic research to foster entrepreneurship.

Five renowned scholars shared their insights at this conference. They were Professor Howard E. Aldrich of the University of North Carolina, Chapel Hill; Professor Henrich R. Greve of INSEAD; Professor Paul D. Reynolds of Aston University; Professor Hiram Samel of Oxford University; and  Professor Poh Kam Wong of the National University of Singapore. Discussion sessions with these scholars gave insightful looks into entrepreneurship as a way to overcome an era of uncertainty and promote future growth.

After an opening address from YVIP Director, Professor Dongyoub Shin, and a welcoming speech from YSB Dean Young Ho Eom, Professor Mooweon Rhee, the conference chair, introduced each program of the conference.

[Professor Dongyoub Shin (left) and Professor Mooweon Rhee (right)]

Professor Hyun-Han Shin chaired the first session in which Oxford Professor Hiram Samel said, “As we look at the example of Stanford University which contributed to settling the IT industry into Silicon Valley, the university should fully support students from shaping entrepreneurship to developing new business in every way.” The second speaker, Professor Poh Kam Wong of the National University of Singapore, focused on entrepreneurship education through experiential learning. An example, he said, is the NUS Enterprise program in which students are introduced to investors and mentors outside the classroom.

[Professor Hiram Samel (left) and Professor Poh Kam Wong (right)]

In the second session, which was chaired by Professor Sung Joo Bae, Professor Paul D. Reynolds at Aston University, a director of an annual study on the global start-up ecosystem, introduced “Ten things to know about business creation” for entrepreneurs and policymakers. “Deregulation and governmental support do not necessarily lead to business success,” he said, “It is crucial to minimize the social cost of start-ups and to support career changes or fresh starts when start-ups stumble.” 

[Professor Paul D. Reynolds]

Chaired by Professor Subin Im, the third session focused on understanding entrepreneurship. Professor Howard E. Aldrich of the University of North Carolina, Chapel Hill, an expert in ecological research on entrepreneurship, used several examples of companies in the United States to explain real entrepreneurship. “The management style of Silicon Valley cannot be generalized,” he said. “It is quite impossible for new ventures to imitate Unicorns or Gazelles that showed exponential growth in a short period of time.” After Aldrich spoke, Professor Henrich R. Greve of INSEAD, as the last speaker, pointed out, “Inclusive growth of community and business matters the most, because solidarity with the community helps business to be more sustainable.”

 [Professor Howard E. Aldrich (left) and Professor Henrich R. Greve (right)]

After the guest speakers shared their insights, a lively discussion began between the audience and made up of professors Young-Kyu Kim of Korea University, Ji-Hyun Kim of Yonsei University, Sangchan Park of KAIST, and Sun Hyun Park and Jonghoon Bae of Seoul National University.

 [A member of the audience asks a question at the Global Conference on Entrepreneurship.]

YSB Dean Young Ho Eom praised the event, commenting, “Entrepreneurship has risen as a key topic that leads the growth of ventures and innovation in the 21^st century. I believe this conference provided us a great opportunity to gain both academic and practical insights into innovation.”

Supported by AmorePacific, the goal of the YVIP program is to become a research hub that provides the knowledge, networking, and inspiration needed to start a business and to foster young, value-creating entrepreneurs.