Hyundai Motor CMK Foundation hosts startup event in Silicon Valley

(Hyundai Motor Chung Mong-koo Foundation)

The Hyundai Motor Chung Mong-Koo Foundation said on Monday that it held its Impact Startup Demo Day on Thursday, local time, at Wefunder in Silicon Valley, the United States, with about 70 local investors and startup representatives in attendance.

The event was designed to help outstanding impact startups selected through the foundation’s flagship startup incubation program, H-OnDream Startup Ground, gain a foothold in the North American market and secure local investment networks.

Seven teams took the stage to pitch their businesses, each presenting innovative technologies aimed at addressing a range of social challenges, including climate change response and mobility and information accessibility for people with disabilities.

Since 2012, the foundation has fostered 374 teams through the H-OnDream Startup Ground program, achieving a survival rate of 78 percent.

These startups have created 6,569 jobs, generated cumulative sales of 1.25 trillion won ($856 million), and attracted a total of 377.9 billion won in investment, according to the foundation.

“We hope this event will serve as a bridgehead for our startups as they expand into the North American market,” said a foundation official.