15 Businesses Join Hyundai Start-up Challenge Indonesia 2022

TheIndonesia.id - Hyundai Motor Group officially announced 15 selected businesses for the Hyundai Start-up Challenge Indonesia 2022 (HSC 2022). The startups are covering four sectors, including environment, employment/ education, electric vehicles, and health.

The 15 selected businesses are Algobash, Beli Jelantah, Biopac, Cleansheet, Dietela, Disabilitas Kerja, Globy, Hear Me, KlinikGo, MakeWebEasy, Nuxcle, Silang.id, Syams Indonesian Handicraft, Tumbasin.id, and Yagi.

"We hope that the HSC program will be an opportunity to accelerate the business model of the selected team this year, and we also hope to create a new social impact in Indonesia through the creative and innovative challenges of the selected HSC team," said Senior Manager of Hyundai Motor Group, Won Sun Hong in a press release on Wednesday, June 16, 2022.

Hyundai explained, that in the period from April 1 to May 11, the selection committee had received more than 2,400 applications through the HSC official website. More than 800 business founders who signed up for this year's program have submitted their pitch decks.

The selection committee then screened applications and selected 60 teams, 50 of whom were invited for an online interview and presentation session on 18 May 2022. Representatives from Hyundai Motor Group, Hyundai Motor Manufacturing Indonesia, MYSC, Instellar, Crevisse, and the Ministry of Creative Economy were the judges or main curators for the online interviews and presentation sessions.

On the same day, 10 other teams were also invited for offline interviews and presentation sessions, which were held in conjunction with the "Road to G20: Investment Forum" at Sebelas Maret University (UNS) Solo, as a collaboration between Instellar, HSC Indonesia 2022 implementation partner, and UNS Innovation Hub and the Investment Coordinating Board (BKPM).

Of the 60 teams, around 35 teams were selected to take part in the Founding Team Interview which aims to determine the 15 selected teams. Several important points were underlined by the selection committee this year, including financial maturity, mission, and social impact, business model, and social enterprise innovation.

This year's program also encourages businesses that are founded or led by women, and that focus on women as the target beneficiaries, to join this program. Seven of the fifteen selected social enterprises were founded and led by women.

This program also welcomes social enterprises that target persons with disabilities as beneficiaries. Each selected team will receive a grant of up to USD 6,500 to develop their business during the program. They will face an accelerated phase from June to October, Bootcamp in October, then Demo Day in early November, where the top three teams will have the opportunity to earn an additional US$45,000 in grants.

To officially welcome the 15 selected teams to the Hyundai Start-up Challenge Indonesia 2022, Hyundai Motor Group invited them to visit Hyundai Manufacturing Motor Indonesia in Cikarang, Bekasi, West Java on June 16-18, 2022. The event will be attended by representatives from the Hyundai Motor Group and MYSC from South Korea, Hyundai Manufacturing Motor Indonesia, Instellar, and HSC winners from 2020 and 2021.