Participating as an Open Innovation Member
Exchanging New Business Ideas and Securing Engines for Sustainable Growth
S-OIL (CEO: Anwar Al Hizazi) attended the opening ceremony of the ‘Ulsan Startup Hub’ hosted by Ulsan City on the 11th, expressing its commitment to revitalizing the startup ecosystem and strengthening open innovation collaboration.
The ‘Ulsan Startup Hub’ is a startup support platform focused on promoting cooperation among local startups, large corporations, investors, and startup support organizations, as well as discovering innovative technologies. It is operated by the Ulsan Creative Economy Innovation Center (CEO: Kim Heon-seong), a startup-dedicated institution under the Ministry of SMEs and Startups.
At the opening ceremony, S-OIL signed a ‘Memorandum of Understanding (MOU) for the Activation of Open Innovation’ and plans to actively participate as an open innovation member of the Ulsan Startup Hub.
Through this, S-OIL aims to expand opportunities such as discovering demand companies and supporting the growth of previously invested companies, contributing to the establishment of a sustainable startup ecosystem.
In the future, when matching with companies possessing required technologies, S-OIL plans to strengthen practical collaboration by reviewing investments and conducting proof of concept implementations.
Since 2021, S-OIL has been discovering promising startups through the UFEZ large, medium, and small win-win investment platform contest hosted by the Ulsan Creative Economy Innovation Center. Separately, S-OIL signed a partnership MOU with Seoul Startup Hub to build partnerships between startups and large corporations, investing in three companies?Beomjun E&C, Glory Entech, and LeeU CNC?and supporting their business growth, achieving excellent results.
An S-OIL representative stated, “With the launch of the Ulsan Startup Hub, we will further contribute to creating an innovative ecosystem in the region and activating win-win cooperation among large, medium, and small enterprises.” He added, “We will continue to promote open innovation in the new energy innovation sector to secure future sustainable growth engines.”
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