Partnership between venture companies and universities through students´ extra-curriculum activities

The objective of this paper is to introduce a new university industry collaboration model for small-sized venture companies. This model recognizes significant aspects of extra-curricular activities ineffectively meeting particular demands of various small-sized companies. We propose to build a collaborative relationship between student clubs at a university and venture companies. Upon the formation of the relationship, each company supports the student clubs by providing financial and technical aids for projects conceived in accordance with specific interests of the company, which will also help the students acquire knowledge and skills required for that specific area the company is targeting. The university plays a role as a mediator and facilitator in enhancing the partnership, supplying equipment and operating the internship program. We expect this model will not only reduce the reeducation cost of the companies but also help them to find new workers who are skilled and experienced in the particular filed of their own. We also presented the case of Handong Global University, Korea, as a successful application of this model.