Hyundai Motor Group-Jung Mong-koo Foundation Select Impact Startups... "Up to 200 Million KRW Support"

[Asia Economy Reporter Hyunseok Yoo] Hyundai Motor Group and the Hyundai Motor Chung Mong-Koo Foundation announced on the 16th that they are recruiting startups to participate in the ‘H-OnDream Startup Ground’ program.

'H-OnDream Startup Ground' is a project by Hyundai Motor Group and the foundation to discover, nurture, and invest in impact startups aiming to solve social issues. It operates in three tracks: ▲'H-OnDream A (Adaptive Incubating)' supporting market validation for startups from pre-launch to their third year as a corporation ▲'H-OnDream B (Business Accelerating)' supporting growth acceleration for startups with annual sales exceeding 100 million KRW ▲'H-OnDream C (Collective Environment Action)' supporting projects to solve environmental issues in collaboration with Hyundai Motor Group.

Hyundai Motor Group and the foundation will select 20 teams for the ‘H-OnDream A’ track, 5 teams for the ‘H-OnDream B’ track, and 3 teams for the ‘H-OnDream C’ track, providing financial support to a total of 28 teams. The ‘H-OnDream A’ track will provide basic funding of 20 to 40 million KRW, the ‘H-OnDream B’ track will provide basic funding of 40 million KRW up to a maximum of 100 million KRW, and the ‘H-OnDream C’ track will provide basic funding of 50 million KRW up to a maximum of 200 million KRW.

In particular, teams selected for the 'H-OnDream C' track will undergo a follow-up evaluation after the project ends. If excellent results are confirmed, an additional incentive of 50 million KRW will be awarded. Various growth support programs such as topic-specific mentoring, customized growth consulting, legal and tax advice, and specialized lectures will also be operated.

Startups wishing to apply for the 'H-OnDream A' and ‘H-OnDream B’ tracks can submit their applications on the official H-OnDream website from the 17th of this month until the 14th of next month, while applications for the ‘H-OnDream C’ track are open from the 17th to the 31st of this month.

A Hyundai Motor Group official stated, "We hope that many capable startups will show interest and apply for the ‘H-OnDream Startup Ground’ program," adding, "We will continue to strive to realize the potential of young entrepreneurs and lead efforts to solve social problems."

Meanwhile, over the past 10 years, Hyundai Motor Group and the foundation have supported a total of 266 startup teams through the ‘H-OnDream Social Enterprise Startup Audition’ and ‘H-OnDream Startup Ground’ programs, creating a cumulative total of 4,588 jobs.

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