The selected companies will work together with Hyundai Engineering & Construction's business departments from this month until October to conduct proof-of-concept demonstrations of their technologies and services. Depending on the results of these demonstrations, there will be opportunities for further steps such as expanding the application of these solutions to construction sites, developing new products, entering into purchase agreements, and considering investments.
In September, the company plans to operate a joint "Open Innovation Pavilion" at the Korea Construction & Safety Expo, which will be held at KINTEX. The goal is to promote the selected startups to external audiences and share the outcomes of their collaborations. The company stated, "We aim to go beyond short-term demonstrations and expand a sustainable, mutually beneficial cooperation system through organic collaboration with our business departments."
According to the company, over the past three years, the contest has enabled 31 early-stage companies to participate in technology verification programs. Of these, 17 companies have entered into equity investments or purchase agreements. One notable achievement of the program was the application of materials with heat-shielding and insulation functions in the construction of playgrounds within apartment complexes.
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