Hyundai Construction Hosts the '2023 Startup Open Innovation Contest'

Recruiting 31 Projects Across 6 Fields

Hyundai Engineering & Construction announced on the 30th that it will hold the ‘2023 Hyundai E&C x Seoul Startup Open Innovation (Open Technology Innovation)’ contest in collaboration with the Seoul Business Agency, a startup support organization under the Seoul Metropolitan Government.

Now in its second year, this contest aims to discover promising startups with excellent innovative technologies and ideas, establish partnerships with Hyundai Engineering & Construction, and create a co-growth ecosystem within the construction industry.

The recruitment fields include a total of six areas: ▲Smart Healthcare ▲Smart Safety ▲Smart Construction Technology ▲New Businesses (such as Smart Farm) ▲Starting Block (Construction Innovation Technology and ESG), among others.

The application period is until the 20th of next month, and about 10 startups will be selected through document screening and face-to-face evaluations.

Selected companies will receive benefits such as ▲joint product development and new business review ▲opportunities for proof of concept (PoC) ▲investment consideration for outstanding startups ▲mentoring and consulting, as well as business commercialization support funds from the Seoul Business Agency and follow-up support (office space, investment attraction linkage, etc.).

A Hyundai Engineering & Construction official stated, “This contest features the establishment of an incubating program to support commercialization for prospective entrepreneurs and early-stage startups, in addition to the existing collaborative PoC program operation, expanding the number of selected companies and the scale of support.” He added, “Going forward, Hyundai Engineering & Construction will continue to expand open innovation not only for win-win cooperation between large and small-medium enterprises but also to discover startups in sustainable construction innovation and ESG fields.”