Lotte Construction Launches Initiative to Discover Outstanding Startups

Lotte Construction is taking the initiative to discover outstanding startup companies. On the 12th, Lotte Construction announced that it is recruiting promising startups to participate in the open innovation program in collaboration with ‘Seoul Startup Hub Seongsu-Changdong,’ operated by the Seoul Business Agency, from the 10th to June 11th.

The Seoul Business Agency is an institution that contributes to creating good jobs and the growth of small and medium-sized enterprises. In March, Lotte Construction signed a business agreement with the Seoul Business Agency to ‘discover and nurture outstanding startup companies.’

Through this open innovation program, the selected outstanding startups will have opportunities to collaborate with related departments of Lotte Construction and receive support funds of 10 million KRW per company for commercialization. Additionally, benefits such as the use of co-working spaces at Seoul Startup Hub Seongsu-Changdong and opportunities to participate in demo days for attracting investment funds will be provided.

The recruitment fields include ▲Construction Industry ESG (eco-friendly materials, renewable energy utilization, circular resource management, carbon reduction technology, CSR/CSV, supply chain management) ▲SmartWork (marketing/order/contract/quotation/procurement/sales process efficiency and automation) ▲DT: Digital Transformation (BIM, AI, VR/AR, Drone, Robotics technology utilization, smart safety) ▲Free Topic (new technologies/new construction methods, new business ideas, etc.). Any startup less than 7 years old located nationwide in these fields can apply.

Applications can be submitted online through Startup Plus, and final selection will be made after a review process. The document review will take place from June 14th to June 23rd, and face-to-face interviews for companies that pass the document review are scheduled for July 5th.

A Lotte Construction official said, “We hope many outstanding startups with innovative business models will participate in this open innovation program,” and added, “We will continue to invest and support the discovery and growth of startups.”

A Seoul Business Agency official stated, “Through this open innovation, we will do our best to make it a win-win cooperation platform where Lotte Construction and outstanding startups in the construction industry can collaborate and create meaningful results.”