HD Hyundai Electric announced on the 28th that it held a kickoff event for 'PowerUp HDE', an open innovation program for discovering next-generation power technology startups at home and abroad, with accelerator companies 'Bluepoint' and 'Plug and Play'.
The recruitment areas are new growth businesses necessary for future power businesses such as next-generation power, eco-friendly energy, and digital transformation. HD Hyundai Electric will recruit startups and operate technology development programs in earnest starting in June. Selected startups will be provided with practical benefits such as development cost support, technology verification, provision of verification test beds, and joint development opportunities.
PowerUp HDE goes beyond the flow of power and embodies the will to create a transformation (Up) of technology, industry, and organization with startups. It is operated based on a proof-of-concept (PoC) project, and the selected startups will work closely with a TF comprised of HD Hyundai Electric executives. Once the proof-of-concept is complete, it can be expanded into follow-up investment, joint business, and long-term partnerships.
In particular, selected startups will be able to use HD Hyundai Electric’s facilities to verify their technology. For startups with poor development infrastructure, this will likely be a great opportunity to turn their ideas into reality and verify their development technology.
At the kickoff event held that day, HD Hyundai Electric CEO Kim Young-ki said, “In this rapidly changing industrial environment, true challenge and innovation are absolutely necessary,” and “We will contribute to the innovative growth of the electric power sector by continuously developing new future electric power business ideas.”
HD Hyundai has been continuously promoting the discovery of internal ideas by operating the in-house venture system 'Dream Cube-S' to foster a creative and challenging corporate culture and create new values. The first in-house venture, Avikus, was launched in 2020 and has established itself as a leading company in the field of autonomous ship navigation.
Meanwhile, Bluepoint and Plug and Play are working together on this startup discovery. Bluepoint, which is in charge of discovering domestic startups, is an early-stage technology startup investment firm with extensive experience in working with various large corporations. Bluepoint plans to take charge of the entire operation, from recruiting domestic startups to sharing results. Plug and Play, which is in charge of discovering overseas startups, is a Silicon Valley-based global company with branches in over 60 major cities around the world and boasts the widest network among global accelerator companies, with a pool of over 60,000 startups.
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