Hyundai has joined forces with POSCO to launch a new innovation initiative to identify the best entrepreneurial, academic and technological projects related to hydrogen applications and technologies across the globe.
Organised and support by InnMind, H2 Challenge is designed to become an open innovation platform for start-ups, academia and SMEs to share solutions and establish collaboration opportunities with Hyundai or POSCO.
Commenting on the formation, Edvin Eriksen, Head of Hyundai CRADLE Berlin, said, “CRADLE Berlin is leading the regional market operation and has the exciting mission to identify start-ups, universities and strategic partners that focus, amongst others, on ‘Disruptive Innovation’ being developed in the European region.
“Driven by the ongoing strong momentum in hydrogen development and deployment in Europe, we seek disruptive technologies by innovative companies with the same vision to realize a ‘Hydrogen Economy’ for a better and cleaner future.”
Starting from the July 5th of 2021, H2 Challenge is open for applications from international start-ups from Pre-Seed to Series C+ stages, university teams and strategic partners that develop both hardware and software solutions across multiple use cases and projects within the hydrogen value chain.
Seung-Gyu Lim, Director of POSCO Capital, said, “Under the new paradigm of Green, we are now focusing much more on hydrogen in Europe. Steel, which is the POSCO Group’s main business, needs a lot of hydrogen for the new steel making process.
“In this sense, we try to cover the whole value chain of hydrogen as a new business, not just consumer’s point of view. We are looking forward to finding promising start-ups which can make our creative journey together and hoping to make your and our dreams come true.”
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