'The Meeting of Hyundai Motor and Startups'... 2020 Zero One Accelerator Phase 1 Recruitment

Recruitment from the 13th to the 10th of next month... Support in 6 fields

Hyundai Motor Group 'Zero1 Accelerator 2020' First Recruitment (Photo by Hyundai Motor Group)

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Group announced on the 12th that it will begin recruiting startups for the first round of its 2020 open innovation platform, ‘Zero1 Accelerator’.

Zero1 Accelerator is a program that discovers outstanding startups based on ideas proposed by Hyundai Motor Group’s business teams, builds collaborative projects, and verifies and develops the strategic applicability of various innovative technologies. First, the business teams propose desired collaboration project ideas with startups and directly participate in the selection process. Then, the final selected startups jointly carry out projects, creating synergy effects in technology development beyond company boundaries.

This year, recruitment will be conducted for a total of 61 projects divided into six technology themes: ▲New Automotive USP (Unique Selling Proposition) 20 projects ▲Mobility Platform 13 projects ▲Smart Factory 8 projects ▲Drones & Robots 5 projects ▲Marketing Solution 9 projects ▲Hygiene 6 projects. Multiple applications are allowed.

If selected and a collaboration project with the business team is established, up to 50 million KRW will be provided as project and PoC (Proof of Concept) development funds. The selected startups will also be considered for equity investment by the ‘Zero1 Accelerator’.

Regardless of previous investment status, only startups that have completed corporate registration at the time of application are eligible. Applications can be submitted via the official Zero1 Accelerator email from the 13th until May 10th. Final results will be announced in June after document and face-to-face evaluations.

Meanwhile, the ‘Zero1 Accelerator’ program, launched in 2018, involves over 50 teams from seven Hyundai Motor Group affiliates and 40 startups. So far, it has achieved 36 matched collaborative projects (including 8 linked to commercialization) and equity investments in 28 companies. Notably, Zero1 goes beyond the typical corporate accelerator role by supporting creative talents to gain new inspiration through experiences that break down the boundaries between art, technology, and business.

This content was produced with the assistance of AI translation services.