POSCO E&C Hosts Next-Generation Construction Startup Competition

[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction announced on the 29th that it has finally selected three prospective startup teams to lead the future construction industry at the ‘Next-Generation Construction Startup (STARTUP)’ competition jointly held with Inha University.

The Next-Generation Construction Startup competition is a representative social problem-solving social contribution activity by POSCO Engineering & Construction to support young people aspiring to start businesses in the construction field to do so under stable conditions.

The teams finally selected this year are XR Solution, IHAE, and Bigujayoso. The ‘XR Solution’ team is developing a system that uses XR (eXtended Reality) technology to simulate the work environment before construction machinery such as heavy equipment is deployed on site, enabling on-site safety management.

The ‘IHAE’ team is developing vacuum insulation materials and noise-blocking materials that can reduce noise between floors, while the ‘Bigujayoso’ team is commercializing an idea to minimize damage caused by the detachment of ceiling interior materials during earthquakes or typhoons by improving the hangers that fix existing ceiling interior materials.

These three teams will receive startup support funds of 3 million won. In addition, they will move into a startup incubation center linked with Inha University and receive startup consulting support for product development. POSCO Engineering & Construction plans to support the application of proven products to construction sites.

A POSCO Engineering & Construction official said, “Youth startups in the construction field face many difficulties due to entry barriers of existing companies and compliance with legal standards,” adding, “We will create an environment where young people dreaming of starting a business in the construction field can start more easily, take the lead in resolving youth employment as a corporate citizen that develops together, and secure essential technologies needed at construction sites.”