Beirut, August 12th Century Motor Company launches the first of its kind Hyundai Start-Up Competition in collaboration with ArabNet. The competition’s aim is to provide a haven and guidance for opportunistic Lebanese innovators and falls under Hyundai’s motto of “new thinking, new possibilities.”
Hyundai Motor Company (HMC) decided on Lebanon to lead and represent this first of its kind initiative due to its strong belief in the entrepreneurial drive, talent, and creativity of the Lebanese people and the country as a whole.
The competition was launched at a press conference held at the Phoenicia Hotel, in the presence of various business leaders and media representatives. Both Hyundai and ArabNet spoke of their aim to support, promote, and reward local business ideas for young start-up companies up to 2 years old. After an initial screening of all the submitted applications, twenty of the brightest entrepreneurs will be selected to undergo training under a mentorship program divided into 6 workshops. These workshops will aim at developing their ideas and/or products to prepare for the final selection, where they will be judged by a jury of influential innovators and business leaders across the Middle East.
The participants will receive coverage on the ArabNet news portal and social media platforms, as well as being showcased through various press activations organized by Century Motor Company.
During the final stage, the 20 participants will showcase their ideas on November 12th at Hyundai’s Headquarters in Zalka, where the jury of judges will assess all the participants newly counseled and likely improved start-up ideas and choose the final 3 winners. The top 3 winners will each receive a cash prize from Century Motor Company of USD 15,000, USD 10,000, and USD 5,000 respectively.
To be part of the Hyundai start-up competition, local startups are invited to submit their applications on www.hyundaistartup.com before September 21, 2015.