Together with Singapore’s SGInnovate agency, the firms are inviting applications for this debut program to spur technological and business innovation.
Singapore’s deep tech incubator agency SGInnovate hasworked with Hyundai Motor Company and Kia Motors Corporation (Hyundai & Kia) to launching a first-ever technology accelerator program for startups in Southeast Asia (SEA).
This open innovation initiative aims to incubate progressive technology solutions and create business opportunities for startups based in SEA with Hyundai & Kia. The latter companies will be involved in the following:
- Providing the business needs
- Participating in the startup selection process
- Driving the execution of collaborative projects and Proof-of-Concepts (PoC) with selected startups
The accelerator program provides a development budget for each project, as well as equity investment opportunities for startups selected to execute collaborative projects with Hyundai & Kia (including Hyundai Glovis).
For the debut run, the program is inviting SEA startups that can develop and implement solutions surrounding the key themes of:
- Smart factory
- Sales and marketing Solutions
- Logistics services
Startups that are selected to participate in the Hyundai & Kia | SGInnovate Accelerator will get the chance to work on collaborative projects with the two companies’ business units (including Hyundai Glovis). Benefits include securing strategic partnerships or investment opportunities, as well as valuable global networking and technology insights from established international businesses.
The program is open to startups based in SEA possessing a unique solution with a validated concept and working prototype and keen to work on challenging projects with Hyundai, Kia and Hyundai Glovis. The startup team should consist of experienced individuals with the relevant expertise, and backed by a credible business model “based on sound assumptions”.
A virtual information session will be held on 14 October 2020 from 10am to 11am (SGT) for those who are keen to learn more. Applications close on 31 October 2020, with successful applicants attending a one-day workshop in Dec 2020.