South Korean corporate giant Hyundai Motor Group has announced the commencement of the 2024 open recruitment for its esteemed ‘ZER01NE ACCELERATOR’ program, designed to unearth innovative startups with exceptional capabilities. The recruitment process will kick off on February 19, marking the group’s commitment to fostering groundbreaking technologies in collaboration with emerging businesses.
Fostering Innovation Across Four Key Areas
The ‘Zero One Accelerator’ stands for Hyundai Motor Group’s flagship open innovation platform, now entering its 7th year of operation. In its 2024 iteration, the program is set to recruit startups for 14 collaborative projects across four pivotal domains: Software Defined Vehicle (SDV), Smart Factory, Environmental, Social, Governance (ESG), and Artificial Intelligence (AI).
Distinguished by its hands-on approach, Hyundai Motor Group’s field teams will directly propose collaborative projects and actively engage in the selection process. The chosen startups will embark on joint endeavors with the Hyundai Motor Group, establishing a robust collaborative network aimed at nurturing diverse, innovative technologies.
Selected startups will benefit from support for the project development costs and stand a chance to secure equity investments through the Zero One Fund is an initiative operated by Hyundai Motor Group.
This year, the program introduces novel features, including the inclusion of startups at the ‘Pre-A round’ investment stage, which precedes product development and market entry. These startups are encouraged to propose projects aligned with the four thematic areas. Successful candidates will be considered for equity investments via the Zero One Fund.
Application Process and Timeline
Prospective startups keen on participating in the program can submit their applications through the dedicated ‘Zero One Accelerator’ recruitment information webpage until March 10. Final selections will be announced in April following a rigorous screening process involving document review and interviews.
Since its inception in 2018, the Zero One Accelerator has witnessed the active participation of 11 group companies and 150 business teams within the Hyundai Motor Group. Over the years, 177 startups have been selected, leading to the successful execution of 128 collaborative projects. Notably, equity investments were extended to 94 companies, underscoring the program’s efficacy in nurturing entrepreneurial talent and fostering innovative solutions.
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