"Looking for Bio Startups" GS Collaborates with Startups to Discover Eco-Friendly New Businesses

Heo Tae-soo, Chairman of GS Group

[Asia Economy Reporter Kim Hyewon] GS Group is launching efforts to discover eco-friendly new businesses by recruiting and nurturing innovative startups.

GS announced on the 31st that it is recruiting tech startups in the bio sector to participate in 'The GS Challenge' program until March 7.

The GS Challenge is an accelerating program created by GS to find and continuously nurture startups that will help build a sustainable future. The first initiative focuses on startups challenging growth through bio technology.

The theme of this program, conducted in partnership with Bluepoint Partners, a leading tech startup accelerator in Korea, is "New Life, Clean Environment, and Healthy Future Created by Bio Technology."

The recruitment areas include bio technology applications for ▲production and utilization of new types of eco-friendly materials ▲reduction, blocking, purification, and recycling of waste and pollutants ▲disease diagnosis and health management products and solutions.

Selected startups will have access to various benefits, increasing their chances of successful commercialization.

First, they will have the opportunity to conduct proof of concept (PoC) commercialization with GS experts. They will also receive Bluepoint Partners’ product-market fit specialized acceleration program and dedicated mentoring from bio industry and technology experts.

Additionally, they can utilize strategic collaboration and networking opportunities with GS, as well as GS Caltex’s research infrastructure. Even after the program ends, they can participate in investment attraction efforts with GS and Bluepoint Partners.

Applications can be submitted through the official website, and any early-stage startup or prospective entrepreneur with two or more members possessing technology for a sustainable future created by bio technology can apply. The program will run for a total of five months from April to August.

This program is a concrete execution case following GS Chairman Huh Tae-soo’s emphasis during the online New Year meeting on January 4 on the need to discover new businesses in various fields, urging to "focus on discovering new businesses through strengthening digital capabilities and eco-friendly management."

Last year, GS laid the groundwork for discovering future growth engines by establishing GS Futures, a venture investment corporation in Silicon Valley, USA. This year, GS is seen as making efforts to discover new businesses in various fields domestically and internationally through cooperation with domestic startups and venture capital.

A GS official said, "GS pursues environmentally sustainable growth and expects synergy through cooperation with startups in many areas such as new innovative technologies and business models to realize this." He added, "Through active open innovation, we will build a sustainable growth foundation together with startups."

A Bluepoint Partners official said, "Sustainable growth is the goal of today’s technology and a great opportunity for startups," adding, "We expect this program to be a good opportunity to support the growth of startups challenging new changes."

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