Hyundai Construction Collaborates for Mutual Growth with 6 Startups

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering & Construction announced on the 7th that it has selected six innovative startups through the '2022 Hyundai Engineering & Construction X Seoul Startup Open Innovation' contest, held in collaboration with the Seoul Business Agency, a startup support organization under the Seoul Metropolitan Government, and will actively promote win-win cooperation.

This contest is an open innovation program designed to discover promising startups, establish partnerships with Hyundai Engineering & Construction, and create a co-growth ecosystem within the construction industry.

In the application process held last September, a total of 126 startups applied across six recruitment fields including smart construction technology and smart safety, and six startups were finally selected through evaluation.

The six selected companies possess technologies such as ▲ facility safety diagnosis solutions using artificial intelligence (AI) video analysis ▲ harmful gas detection systems using light ▲ real-time worker location recognition solutions ▲ carbon dioxide resource recovery systems for carbon neutrality ▲ AI-based smart farm solutions ▲ and smart speakers capable of delivering sound only to specific directions and locations.

This month, Hyundai Engineering & Construction will sign a business agreement for the PoC (Proof of Concept) program, which verifies and demonstrates the feasibility of new technologies before adoption, and from January next year, will jointly conduct projects with Hyundai Engineering & Construction’s operational departments for about five months. If on-site applicability is proven, the projects will be expanded and opportunities for development and commercialization will be provided.

In addition to nurturing and promoting these startups, Hyundai Engineering & Construction plans to hold a demo day event in the first half of next year to share achievements with outstanding startups through the '2022 Open Innovation' event.

A Hyundai Engineering & Construction official said, "We will actively support the innovative technologies discovered through this startup contest to be applied at construction sites and create various values through the PoC program," and added, "Going forward, Hyundai Engineering & Construction will continuously expand open innovation with excellent startups to strengthen innovation and win-win cooperation in the construction industry."

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