Hyundai Motor Chung Mong-Koo Foundation Selects 5 Impact Startups... Up to 100 Million KRW Support

Selection of Startups Participating in H-Ondream B Program

[Asia Economy Reporter Yu Je-hoon] The Hyundai Motor Chung Mong-Koo Foundation announced on the 19th that it has selected five startups to participate in the 'H-OnDream B Program,' which supports the growth of impact startups with annual sales exceeding 100 million KRW.

H-OnDream B is part of the 'H-OnDream Startup Ground,' a startup nurturing platform operated by the Hyundai Motor Chung Mong-Koo Foundation for 10 years. The five selected startups will receive an initial support fund of 40 million KRW, and ultimately, the one team with the highest evaluation will receive up to 100 million KRW in support.

The five startups include ▲ Join & Join, which develops alternatives to animal-based ingredients using chickpeas and seaweed extracts, ▲ an online platform curating hobby content, and ▲ Hobbyful, among others. The Chung Mong-Koo Foundation plans to provide these startups with consulting, specialized education, follow-up investment opportunities, fellow networking, and connections to foundation and group resources.

Meanwhile, the Chung Mong-Koo Foundation plans to support a total of 28 startups this year through the H-OnDream Startup Ground, including 21 teams selected for the 'H-OnDream A' program, which supports market validation for impact startups under three years old, and 3 teams selected for 'H-OnDream C,' which supports environmental problem-solving projects.

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