Hyundai Motor Group Hosts Social Venture Contest in Indonesia

On the 25th, participants are taking a commemorative photo at the 'Hyundai Startup Challenge 2022' Demo Day and Awards Ceremony held in Jakarta, Indonesia.

[Asia Economy Reporter Choi Dae-yeol] Hyundai Motor Group announced on the 25th (local time) that it held the ‘Hyundai Startup Challenge 2022’ Demo Day and Awards Ceremony in Jakarta, Indonesia. This is a social venture support project that selects startups solving local social issues such as environment, education, and employment, and spreading positive impact.

This year, 826 teams applied, recording a competition rate of 55 to 1. A total of 15 teams were selected, each receiving 9 million KRW in support and consulting for six months. At the Demo Day, final evaluations and presentations for investment attraction were conducted. Hyundai Motor Group selected three outstanding teams based on business models and social impact, awarding a total prize of 56 million KRW.

The first place was awarded to the ‘Hear Me’ team, which developed a sign language translation and interpretation application for the hearing impaired. They received a prize of 32 million KRW. The second and third places went to a team proposing an upcycling business item manufacturing traditional handicrafts for women with career interruptions, and a team proposing a low-cost programming education platform for underserved areas, receiving 16 million KRW and 8 million KRW respectively.

Atalia Team Hieomi representative (left) and Iman Santosa, Director General of Indonesia's Ministry of Tourism and Creative Economy, are posing for a commemorative photo.

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