Hyundai Launches Startup Com­pe­ti­tion for the Sec­ond Year Run­ning

Arabnet - The Quarterly - - Industry Stories -

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.

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