UNIST has announced that its faculty-led startup company, BlueMagnet Inc., founded by Professor Ki-Suk Lee from the Graduate School of Semiconductor Materials and Devices Engineering at UNIST, has been selected for TIPS, an accelerator investment-driven tech incubator program for startups, initiated by the Ministry of SMEs and Startups (MSS). This recognition will provide BlueMagnet Inc. with KRW 500 million in funding over the next two years.
UNIST has announced that its faculty-led startup, BlueMagnet Inc., founded by Professor Ki-Suk Lee from the Graduate School of Semiconductor Materials and Devices Engineering, has been selected for TIPS, an accelerator investment-driven tech incubator program initiated by the Ministry of SMEs and Startups (MSS). This recognition provides BlueMagnet Inc. with KRW 500 million in funding over the next two years.
BlueMagnet Inc. earned this recognition for successfully developing an eco-friendly synthesis method for a new magnetic material. The company’s innovative core technology addresses limitations identified in earlier research, establishing it as a standout candidate for the TIPS program.
Founded in February 2024 with support from the ‘Laboratory-Specialized Startup Leading University’ project, BlueMagnet Inc. emerged from a collaboration between Professor Lee and CTO Hye-Jin Ok, then a doctoral student. Together, they developed a unique technology that grants magnetism by modifying the spin state of prussian blue, which garnered attention in various startup-related competitions, including ‘Startup Water 2024.’
Shown above is the magnetic prussian blue particle, developed by BlueMagnet Inc. l Image Credit: BlueMagnet Inc.
Traditional methods required the separate synthesis of nanomagnets and prussian blue, followed by a complex, costly coating process that posed environmental concerns due to the use of hydrochloric acid. In contrast, BlueMagnet Inc. revolutionizes this approach by synthesizing both components simultaneously, creating ‘Cs Magnito,’ a magnetic prussian blue particle.
The name ‘Cs Magnito,’ inspired by Magneto, a character from Marvel Comics’ X-Men series, reflects the technology’s ability to absorb and process cesium (Cs) under a strong magnetic field. This groundbreaking process leads to the development of the ‘CsMagnetoSys‘ solution, designed to effectively adsorb and eliminate radioactive cesium, offering a promising method for managing nuclear waste and tackling environmental challenges.
Professor Lee stated, “We have addressed the dual issues of environmentally harmful practices and high costs that have hindered technology commercialization through the introduction of new materials and processes that enhance magnetism.”
The TIPS selection not only secures vital R&D and marketing funds for BlueMagnet Inc., but also positions the company as a leader in the sustainable technology sector. “Our aim is to evolve into a globally recognized small and medium-sized enterprise that mitigates some of the negative consequences associated with technologies developed for the advancement of humanity,” he added.
Youngsik Kim, Dean of the Office of University Industry Relations at UNIST, praised the TIPS selection as a significant step toward a sustainable future, emphasizing that BlueMagnet Inc. is well-positioned to make a positive impact on both society and the environment.
The TIPS program is a collaborative initiative where the government and private investors support technological startups. UNIST has successfully fostered the establishment of 33 companies to date, advancing the field of technological innovation.
![[2025 Commencement] “You Are Pioneers with the Ability to Change the World!”](https://news.unist.ac.kr/wp-content/uploads/2025/02/2IMG08110-190x122.jpg)
