HD Hyundai Electric Fosters Startups for Next-Gen Power Tech Innovation

Amidst the explosive increase in global power demand driven by the development of advanced technologies such as artificial intelligence (AI), HD Hyundai Electric has embarked on a mission to discover next-generation technology startups that will reshape the future of the power industry. By joining forces with leading domestic and international accelerators, 'Bluepoint Partners' and 'Plug and Play', it announced the vigorous launch of the open innovation program 'PowerUp HDE'. 'PowerUp HDE' will intensively seek out startups in new growth sectors that will be central to the future power business, including next-generation power technologies, eco-friendly energy, and digital transformation. Startup recruitment will commence in June, with a promise of exceptional support for selected teams. In addition to basic development costs for idea implementation, HD Hyundai Electric will fully support startup growth by providing testbeds utilizing its facilities for technology verification and demonstration, and even offering opportunities for joint development. This is expected to be a golden opportunity for early-stage startups lacking development infrastructure to turn their ideas into reality and verify their technologies. This program goes beyond mere support, operating with a focus on Proof of Concept (PoC) projects, and aims for a win-win model where a task force (TF) composed of HD Hyundai Electric's working-level staff collaborates closely with startups. After successful demonstration, the possibility of expanding into follow-up investments, joint commercialization, and long-term partnerships is open, fostering expectations for true co-growth. At the kickoff event, HD Hyundai Electric CEO Kim Young-ki stated, "True challenge and innovation are essential in a rapidly changing industrial environment," and expressed his commitment to "continuously developing new power business ideas to contribute to innovative growth in the power sector." This aligns with HD Hyundai's innovative DNA, which successfully spun off 'Avikus', a leading company in autonomous ship operation, through its in-house venture 'DreamCube-S'. Bluepoint Partners, responsible for discovering domestic startups, is a specialized investor in early-stage technology startups and plans to find Korean innovators based on its experience collaborating with various large corporations. Meanwhile, Plug and Play, which handles the discovery of international startups, is a Silicon Valley-based global company with offices in over 60 cities worldwide and a strong network boasting a pool of over 60,000 startups. It plans to bring together promising technologies from around the globe to 'PowerUp HDE' through this network. HD Hyundai Electric, together with these powerful partners, is now ready to discover startups with the potential to innovate the future of the power industry, support their growth, and create new value.