H2 Challenge led by Hyundai CRADLE and POSCO Capital together with InnMind is now open for applications! Starting from TODAY, July 5th of 2021, H2 Challenge is accepting applications from international startups from Pre-Seed to Scaleup stages, university teams and strategic partners.
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.
Following a mission to establish the future all together where all forms of transportation and industrial technology function seamlessly and sustainably, Hyundai CRADLE Berlin and POSCO Capital united forces to contribute to a society that can be centered around – and powered by – hydrogen, the most plentiful substance in the world.
“CRADLE Berlin is leading the regional market operation and has the exciting mission to identify startups, 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.” - mentioned Edvin Eriksen, Head of Hyundai CRADLE Berlin.
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
“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 startups which can make our creative journey together, and hoping to make your and our dreams come true.” - commented Seung-Kyu Lim, CEO of POSCO Capital.
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.
Follow the link below to find more information about the H2 Challenge and apply.