Hyundai Motor Group Launches Social Venture Development Project in Indonesia

[Asia Economy Reporter Suyeon Woo] Hyundai Motor Group is launching a social venture business development project in Indonesia to contribute to nurturing future talent and creating jobs. Based on the know-how gained from operating the 'H-OnDream Social Enterprise Startup Audition' program currently underway in Korea, Hyundai Motor Group plans to actively support startups that contribute to society locally in Indonesia.

On the 13th and 14th, Hyundai Motor Group held the 'Hyundai Startup Challenge' Demo Day and Awards Ceremony online in Jakarta, Indonesia, sharing the first business outcomes, the group announced on the 16th. A total of 316 teams applied for this program, which selects startups dreaming of solving social issues related to education, environment, and jobs in Indonesia and creating new value.

Among them, 10 teams were finally selected to receive expert management consulting and were given opportunities to promote their businesses and attract investments through this Demo Day. Hyundai Motor Group provided business funding ranging from a basic 10 million KRW to a maximum of 50 million KRW per team.

On the 13th, the 'Hyundai Startup Challenge' event held in a webinar format was attended by people from various fields in Indonesia. Photo by Hyundai Motor Group

Looking at the main business contents of the selected teams, creative ideas poured out in various fields such as services supporting mobility and job creation for the disabled, manufacturing of flour substitute foods, eco-friendly businesses related to organic waste, digital marketing education projects for job creation in rural areas, aquaculture support projects through data management, and publishing sharing platform projects for free distribution of learning materials.

Also, thousands of people simultaneously attended this event held in the form of an online webinar, including government officials such as the Minister of the Indonesia Investment Coordinating Board and the Vice Minister of the Ministry of Creative Economy and Tourism, startup specialized organizations, investors, and various local sectors.

A Hyundai Motor Group official said, "We will support Indonesian entrepreneurs who constantly innovate and strive for development for a better society and actively help them grow into leaders of society," adding, "We will expand this not only in Indonesia but also to other Asian countries in the future to fulfill our social responsibility as a global company."

Meanwhile, the 'H-OnDream' project currently underway in Korea is a customized startup support program operated since 2012 by Hyundai Motor Group and the Hyundai Motor Chung Mong-Koo Foundation in collaboration with the Ministry of Employment and Labor and the Korea Social Enterprise Promotion Agency to discover and nurture social entrepreneurs. Over the past nine years, it has contributed to revitalizing the social enterprise ecosystem by nurturing 238 social enterprises and creating 1,923 social jobs.

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