HD Hyundai Electric announced on the 4th that it has started recruiting startups to participate in 'PowerUp HDE', an open innovation program for technological innovation and sustainable growth in the electric power industry.
'Power Up HDE' is a strategic industry-academia cooperation program hosted by HD Hyundai Electric and jointly operated by Bluepoint, a deep-tech startup accelerator, and Plug and Play, a global open innovation platform. Through this, HD Hyundai Electric aims to secure future competitiveness in the electric power industry and create an ecosystem based on technology convergence.
This program will discover startups with promising technologies centered on three key areas: △Next-generation power technology △Eco-friendly energy △Digital transformation. The selected companies will collaborate with HD Hyundai Electric’s dedicated task force (TF) for approximately five months to conduct a proof-of-concept (PoC) project and evaluate the potential application of the technology to industrial sites.
Startups that successfully complete a demonstration project are given follow-up opportunities such as joint technology development, follow-up investment, and long-term partnerships. In addition, various customized support services such as commercialization consulting, expert mentoring, and development cost support are provided.
Bluepoint, which is in charge of operating the program, has built a collaboration model that goes from verification to commercialization based on its open innovation experience with many large corporations, while Plug and Play is in charge of global startup sourcing through a network of approximately 60 bases around the world.
Kim Young-ki, CEO of HD Hyundai Electric, said, “In the midst of rapid changes in the electric power industry, active collaboration with external technologies is necessary to lead true innovation,” and added, “Through this program, we will build sustainable collaboration cases with promising startups that will create the future electric power industry together.”
“PowerUp HDE is a program designed to enable startups to proactively participate in technology development at the center of the energy industry,” said Lee Yong-kwan, CEO of Bluepoint. “We hope that this will lead to real-world, practical changes in the transformation of the industry based on realistic, proven opportunities.”
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