Hyundai Start-Up Challenge is organized bY Hyundai Motor Company and Seed:s in collaboration with Instellar and ICCN which aims to discover and nurture young social entrepreneurs with innovative ideas and creative solutions to Education, Employment, and Environmental problems.
There were more than 300 application submissions across Indonesia we received, 20 teams selected with innovative ideas and creative solutions to education, employment, and environmental problems and invited them to the online interview process, and finally we announced 10 teams selected who will received an amount of IDR 100 million grants and have opportunity to join the acceleration program.
We also provided HSC mentoring activity designed to create personal relationships between HSC top 10 teams as mentees and the mentors. The goal of mentoring is to help the startup to respond to their specific problems & provide access to professional advice when they face challenges and options. The mentor will follow HSC mentoring scheme including the Social Enterprise Development (SEED) Map, Business Development Plan (BDP), general approach and attitudes. Mentoring is conducted for 4 months.
Hyundai Startup Challenge Indonesia is an initiative organized by Hyundai Motor Group in partnership with Community Chest of Korea, Impact Alliance, Crevisse, Instellar, and Indonesia Creative City Network, with the purpose of discovering and nurturing young social entrepreneurs with innovative ideas and creative solutions to social problems in education, employment, and the environment. In Hyundai Startup Challenge 2021 Indonesia (“HSC2021 Indonesia”), we fully supported the growth of 15 entrepreneurs through our renowned acceleration expertise, equipping startups with grant capital, and access to dedicated mentoring sessions, workshops, and a series of classes.
In addition to our regular acceleration program, we called upon HSC2020 Indonesia fellowship teams to tackle the COVID19 pandemic that hit the nation hard, destroying livelihoods and communities. Three of our fellow teams provided relief, recovery, and resilience (“COVID19 3R Project”) by extending their business model to the most affected by the pandemic, with additional grant capital provided by HSC2021 Indonesia.
The additional project marked the desire of HSC2021 Indonesia to keep providing support to Hyundai Startup Challenge Indonesia alumni, besides facilitating the alumni to participate in other similar programs related to all organizations involved. Given the growing number of alumni within Hyundai Startup Challenge Indonesia, alumni are encouraged to collaborate to produce business and social innovations for the community.
In general, the year of 2021 has been another fantastic year for all partners and startups involved. HSC2021 Indonesia entrepreneurs proved time after time that they can provide and scale credible solutions to difficult problems of our society. We are confident that all of our entrepreneurs will continue to create significant financial and social impact, advancing Indonesia to a more equitable and clean society.
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