Hyundai CRADLE and POSCO Capital launch challenge for hydrogen-related innovations

Swiss-based collaboration platform InnMind is launching, together with Hyundai CRADLE, Hyundai Motor Company’s corporate venturing and open innovation business, and POSCO Capital, POSCO Group’s venture capital division in South Korea, the H2 Challenge. The Challenge is an open innovation initiative designed to identify the best entrepreneurial, academic and technological projects developed across the globe in the hydrogen related applications and technologies. 

The H2 Challenge is designed to become an open innovation platform for startups, academia and SMEs to share their solutions and establish collaboration opportunities with Hyundai or POSCO to proceed with joint development, project’s funding or PoCs.

Starting from the July 5th of 2021, H2 Challenge is open for applications from international startups from Pre-Seed to Scaleup stages, university teams and strategic partners that develop both hardware and software solutions across multiple use cases and projects within the hydrogen value chain: H2 Production, H2 Transportation & Storage, H2 Application, Carbon Capture Utilisation & Storage, Ammonia Application.

The application deadline is in the middle of August 2021, and then Industry experts and evaluators from Hyundai and POSCO business units will choose the winners. The selected companies and teams will get an opportunity to launch sponsored PoCs, receive strategic funding and access R&D facilities for further joint development with POSCO or Hyundai.

The application process is run via InnMind platform and further information about the H2 Challenge as well as application links are available here: https://innmind.com/h2challenge/.

(Press release / SK)