Hyundai Motor Group Holds 'Hyundai Startup Challenge' in Indonesia

A Total of 621 Teams Applied, Competition Rate 41 to 1
Top 15 Teams Receive Professional Consulting and Investment Opportunities

[Asia Economy Reporter Ki-min Lee] Hyundai Motor Group is supporting social ventures in Indonesia based on the know-how of its 'H-OnDream' startup incubation program operated domestically.

Hyundai Motor Group recently announced on the 8th that it held the 'Hyundai Startup Challenge' Demo Day and Awards Ceremony online in Jakarta, Indonesia, sharing business achievements.

The 'Hyundai Startup Challenge' program, which selects changemakers dreaming of solving various social issues related to education, environment, and jobs in Indonesia and creating new value, received a total of 621 team applications this year, showing a competition rate of 41 to 1.

They presented creative and innovative ideas in various fields such as ▲distribution of agricultural products through organic food production and eco-friendly supply chain establishment ▲research on alternative leather and plastics using fruit waste ▲manufacturing upcycled products using waste plastics ▲selling feed and raw materials through recycling household waste ▲and an online platform connecting nurses and midwives with patients.

Also, the event held in a webinar format reflected the local atmosphere with high interest in nurturing future talents and job creation, as government officials including the Indonesian Minister of Creative Economy, startup experts, and investors participated.

Hyundai Motor Group provides management consulting by experts to the 15 teams finally selected, while offering opportunities to promote their businesses and attract investments through this Demo Day. Additionally, each team receives basic business funding ranging from 10 million to 40 million KRW, and the top three teams can also participate in the domestic H-OnDream Demo Day to be held on the 17th.

A Hyundai Motor Group official stated, "We will actively support startups that challenge themselves to solve social problems and create a better future so that they can grow as youth leaders in Indonesia," adding, "We will fulfill our social responsibility as a global company by expanding not only in Indonesia but also to other Asian countries in the future."

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