'Startup Autobahn Korea'... Final 5 Teams to Be Selected Next Month

Ministry of SMEs and Startups and Mercedes-Benz Korea Joint Collaboration

Source=Ministry of SMEs and Startups

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 22nd that it will jointly host 'Startup Autobahn Korea' with Mercedes-Benz Korea.

Startup Autobahn is a startup acceleration platform created by the German Daimler Group to discover and support promising startups in the future automotive sector. Since its inception in Germany in 2016, it has been held in six countries including the United States, China, and India. Korea has become the seventh country worldwide to host the event.

This Startup Autobahn Korea was realized after a meeting and discussion in October last year between Park Young-sun, Minister of SMEs and Startups, and Matthias Roes, Head of Overseas Regions for Mercedes-Benz Passenger Cars. As innovation in mobility fields such as autonomous vehicles and electric cars accelerates, the program aims to discover promising domestic startups early and provide opportunities for global expansion through collaboration with global companies.

Participating teams in Startup Autobahn will have the opportunity to pre-validate new business introductions such as technology advancement and prototype development and improvement through collaboration with Daimler partners.

After in-depth analysis and interviews of applicant companies, five final teams will be selected by the end of next month. The selected teams will jointly carry out a '100-day program' with Daimler partners until November this year, focusing on education and close mentoring to concretize collaboration strategies.

Subsequently, the results of the 100-day program will be presented at the 'Expo Day' held in December this year. If recognized as a company aligned with Daimler's business strategy as a new project, they will also have the opportunity to pitch (project presentation and investment attraction) to global venture capitalists and partners at the German headquarters.

Companies wishing to participate in this program can apply through the Startup Autobahn Korea website from the 23rd until 5 p.m. on the 14th of next month.

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