Hyundai Engineering & Construction announced on the 15th that it will hold the 2022 Hyundai Engineering & Construction x Seoul Startup Open Innovation contest with the Seoul Industrial Promotion Agency, a start-up support organization under the Seoul Metropolitan Government.

The contest is based on a business agreement signed by Hyundai Engineering & Construction and the Seoul Industrial Promotion Agency last month to find and foster promising startups, and is an open innovation program to create a startup shared growth ecosystem in the construction industry by establishing a partnership between Hyundai Engineering & Construction and startups.

Applications will be made from the 16th to the 7th of next month for startups with innovative technologies and product service capabilities, including △ smart construction technology △ smart safety △ ICT convergence △ new business (hydrogen, carbon neutral, residential service, etc.) △ other business needs.

Details of the contest can be found on the Startup Plus website, and prospective start-ups who are scheduled to register as business operators can also apply regardless of the startup’s business history.

About 10 startups will be selected through document and face-to-face screening, and Hyundai Engineering & Construction’s △ joint product development and new business review △ PoC opportunities △ direct investment review for excellent startups △ cooperation with current departments will be provided.

An official from Hyundai Engineering & Construction said, “The competition has expanded the benefits and infrastructure to support startups through joint operation with the Seoul Business Agency, the nation’s largest public startup fostering agency,” adding, “We will continue to support the growth of startups with innovative technologies and expand open innovation.“