Hyundai CRADLE And POSCO Capital Launched H2 Challenge To Find Innovative Hydrogen Related Applications and Technologies
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. Starting from July 5th 2021, H2 Challenge is accepting applications from international startups from Pre-Seed to Scaleup stages, university teams and strategic partners.
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.
After the closure of the application period in the middle of August 2021, Industry experts and evaluators from Hyundai and POSCO business units will enter the evaluation phase to select the best solutions to proceed with. 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.