Hyundai Launches Startup Competition for the Second Year Running
After last year’s success, Hyundai decided to take their Startup Competition in 2016 and dedicate it as a TV program on LBCI with 25 finalists who will be competing for total cash prizes amounting to $50,000. To be eligible, applicants had to fall under the following categories: enterprise and big data field, educational and learning sector, social media innovations, hardware, or the finance technology industry. Based on their value proposition, innovation, competitive advantage, market potential, and business model, Hyundai have selected 25 startups to undergo a series of trainings and workshops by the Speed@bdd accelerator program for a month. The trainings in the mentorship program will touch on different topics such as gaining revenue, marketing, product distribution, and TV pitching and will help prepare the startups for pitching their innovative ideas to the panel of judges. The TV program, which will consist of five 45-minute episodes and airs in October, will feature 5 startups per episode, each of which will be given 3 minutes to pitch their ideas, followed by 5 minutes of Q&A with the panel of judges. One winner will then be chosen at the end of each episode and given $10,000 from Century Motor Company (CMC), Hyundai’s distributor in Lebanon.