In recognition of its best activities in global open innovation and start-up discovery
POSCO Holdings won the ‘Open Innovation Challenger Award’ at the 2022 CSS Awards hosted by the ICC (International Chamber of Commerce) on Dec. 6.
The CSS Awards began with the European Commission’s ‘Corporate Startup Star Award’ in 2016. It is given to companies that have performed the best activities in Global Open Innovation and Start-up discovery, support, and development among Forbes 2000 and Fortune 500 companies every year.
POSCO Holdings won the ‘Open Innovation Challenger Award’ in recognition of venture development activities through industry-academic cooperation along with its investment amount, expected rate of return, fund size, and excellent investment process in the corporate venture capital sector.
This year, Korean companies including POSCO Holdings, Samsung, Hyundai Motor, LG Electronics, and Industrial Bank of Korea were awarded, and Siemens was selected as the best company and received the grand prize. In addition, many global companies such as Volkswagen, IBM, Coca-Cola, BMW, Honda, Toyota, and ENI (an Italian oil company) were also selected as award-winning companies for their efforts to Open Collaboration through ventures.
Seong-jin Park, Chief of Industry-Academy-Research Cooperation at POSCO Holdings’ Next Experience of Technology Hub attended to receive the award and said, “POSCO was the only company in Korea that established a cooperative system between industry and universities 35 years ago. We have a venture fund system that invests in startups being fostered in the venture valley of POSTECH and RIST, and we are actively supporting the overseas expansion with POSCO International.”
POSCO opened the CHANGeUP GROUND Pohang in July 2021 to establish the world’s best venture ecosystem network. A total of 113 companies moved into CHANGeUP GROUND and their corporate value is 1.5 trillion won. The number of employees is 1,104, contributing to the creation of local jobs.
POSCO plans to expand its venture platform to the United States, Europe, and Asia by utilizing the POSCO Group’s overseas network.