Mercedes-Benz Korea successfully concluded this year’s program with the “Expo Day,” held at a multipurpose cultural space in Seongdong-gu, Seoul, where they shared the final development achievements of nine companies that participated in the fourth “Startup Autobahn Korea”.
The Startup Autobahn is a global open innovation platform established by the Mercedes-Benz Group AG in 2016 to discover promising startups and build a cooperation system. It was first held in Korea in 2020, being the seventh location worldwide.
This year, nine innovative companies in fields such as smart factories, AI, and autonomous driving were selected as final startups to be nurtured last July. They have been developing projects for more than 100 days together with partners like Mercedes-Benz Korea, Hanwha Systems, and LG Electronics.
At the Expo Day held on the 6th, participating startups presented the outcomes of their 100-day projects on stage, and they also explored opportunities for collaboration and investment through networking programs conducted on-site with partner companies and venture capitalists.
Startup Autobahn Korea has achieved success in expanding its network through collaboration with various institutions, including the Seoul Business Agency and the Korea International Trade Association. In September, they co-hosted the “Smart Mobility Meetup,” an automotive startup network event with the global accelerator “Plug and Play” in Germany, aiding five domestic startups in their international expansion.
Additionally, they have continued to promote promising companies by participating in various startup events held in Korea, such as “NextRise 2023” and “K-Global Cluster,” and hosted the mobility conference of the Seoul Open Innovation Alliance through the “Try Everything 2023” organized by the Seoul Economic Promotion Agency.
So far, Mercedes-Benz Korea has supported a cumulative total of 40 companies through Startup Autobahn Korea. Among the seven Mercedes-Benz entities running the global Startup Autobahn program, only the Korean and German headquarters have nurtured more than 40 startups.
Among the domestic companies that have gone through Startup Autobahn Korea, five startups, including Langcode, Deepfine, and Mango Slab, successfully attracted follow-up investments. Furthermore, Langcode and DeepX have secured achievements through collaborations with domestic and international companies, moving into mass production through technological development, showcasing various successes from these participating startups.
Matthias Weitler, CEO of Mercedes-Benz Korea, stated, “Startup Autobahn Korea is not only facilitating the development of the domestic startup ecosystem but also laying the groundwork for global exchanges, helping promising companies’ innovative technologies shine. In the future, we will create more opportunities for exchanges and cooperation with startups so that Korea’s promising companies can thrive on the global stage.”
Mercedes-Benz Korea plans to continue Startup Autobahn Korea in 2024, strengthening the cooperation structure with domestic institutions and companies while diversifying growth opportunities for domestic promising startups through collaboration with international startup nurturing institutions.
Lee Sang-jin daedusj@autodiary.kr