‘Everyone’s Challenge Climate Tech’ open innovation to recruit participating startups

Eight companies, including K-water and Hyundai Construction, will join to propose 82 collaborative projects, with up to 140 million won in support for selected startups

The Ministry of SMEs and Startups said on the 16th that it is seeking startups to participate in the public-private open innovation program “Everyone’s Challenge Climate Tech,” which brings together innovative startups and companies’ and public institutions’ demand projects to solve problems, with applications due by July 10.

“Everyone’s Challenge” is a program that supports open innovation such as technology validation and securing market access between startups operating in new-industry fields and demand companies in each sector. It is currently being carried out across various areas, including artificial intelligence transformation, robotics, and defense, and this time, large-scale collaboration will be driven with a focus on climate tech.

Five public institutions—Korea Water Resources Corporation, Korea Electric Power Corporation, Korea Power Exchange, Korea Gas Technology Corporation, and Korea Hydro & Nuclear Power—as well as three big companies, including Hyundai Construction, HD Hyundai Heavy Industries, and Samsung Heavy Industries, will participate as demand companies in this climate tech challenge. The eight demand companies presented a total of 82 collaborative projects in climate tech areas such as carbon neutrality, energy transition, and eco-friendly energy technologies.

The proposed collaboration projects reflect actual demand on the ground. They include a variety of areas and innovative technologies, such as autonomous inspections of solar power generation equipment using drones and artificial intelligence, real-time monitoring and detection of green algae blooms, and real-time management of carbon emissions from shipyards. Startups hoping to take part can select the most suitable project based on the technology and business model they have and apply.

The targets are companies with fewer than seven years in the climate tech field, and if they fall under new industry startup categories, they can apply within 10 years of establishment. After a document review and a presentation evaluation, the finally selected startups will carry out technology validation, prototype production, and assessments of on-site applicability together with the demand companies. In particular, a person from each demand company is expected to participate directly as an evaluation committee member to identify startups with a high likelihood of real collaboration.

For the selected companies, business commercialization funding of an average of 100 million won per project and up to 140 million won will be provided, and they will carry out the collaborative projects in earnest for about eight months from the agreement start date.

Cho Kyung-won, an official in charge of startup policy at the Ministry of SMEs and Startups, emphasized that climate tech is a field that will determine future industrial competitiveness, including carbon neutrality and energy transition, and that public-private cooperation is therefore very important. He added that through this “Everyone’s Challenge,” the ministry will effectively connect real on-site demand from big companies and public institutions with startups’ innovative technologies, and actively support the creation of growth for climate tech startups and outcomes from win-win collaboration.

More details, including how to apply for the business and specific support content, can be checked through the K-Startup portal announcement.