The Ministry of SMEs and Startups said on the 15th it is recruiting corporations to join the public-private open innovation program "Challenge for All Climate Tech," which consolidates on-site demand from large corporations and public institutions with innovative startups.
"Challenge for All" is a program that helps startups in new industries secure opportunities for technology demonstration and commercialization by working with demand corporations. It is currently run in several fields, including artificial intelligence transformation (AX), robots, and the defense industry.
The Climate Tech challenge application period runs from the 16th to the 10th of next month. Five public institutions under the Ministry of Climate, Energy and Environment, including Korea Water Resources Corporation (K-water) and Korea Electric Power Corporation (KEPCO), and three large corporations, including Hyundai Engineering & Construction and HD Hyundai Heavy Industries, will take part. Participating institutions presented collaboration projects related to carbon neutrality, the energy transition, and eco-friendly energy technology.
The projects were structured to reflect demand in industrial sites. Technology areas include autonomous inspections of solar power facilities using drones and artificial intelligence (AI), real-time algal bloom monitoring, and real-time management of carbon emissions at shipyards. Startups can choose projects that match their technologies and business models and apply.
Startups ultimately selected will carry out proof of concept (PoC), prototype production, and reviews of field applicability with the demand institutions. They will also receive up to 140 million won in commercialization funds per project. In the evaluation, demand corporations will participate directly and select startups with a focus on practical collaboration potential and business linkage.
Cho Kyung-won, entrepreneurship policy director at the Ministry of SMEs and Startups (MSS), said, "Climate Tech is a field that determines future industrial competitiveness, such as carbon neutrality and the energy transition, and public-private cooperation is very important," adding, "Through this Challenge for All, we will effectively consolidate the on-site demand of large corporations and public institutions with the innovative technologies of startups, and support Climate Tech startups in achieving growth and outcomes through win-win cooperation."