The Presidential Commission on Carbon Neutrality and Green Growth announced on the 2nd that 21 startups were finally selected in the ‘Net Zero Challenge X’ project for the first half of this year.
‘Net Zero Challenge X’ is a public-private joint project that discovers and nurtures startups with innovative technologies in the fields of carbon neutrality and green growth. After signing a memorandum of understanding and holding a launch ceremony with relevant institutions in September last year, the commission began the process of selecting and supporting companies from January this year through a comprehensive announcement in December.
The project consists of ▲ Direct selection and investment for startups (Tier 1) ▲ Additional incubation support (Tier 2) ▲ Common support such as loans, guarantees, and regulatory improvements (Tier 3).
This year, a total of 170 companies applied through Tier 1 participating organizations, and 21 companies were finally selected after face-to-face evaluations among 42 companies that passed the preliminary review. The selection criteria include the excellence of technology and business model, and whether the companies meet the evaluation for contributing to carbon neutrality.
About 90% of the selected companies are in the field of greenhouse gas reduction, and about 10% are in the field of climate crisis adaptation. In terms of climate tech classification, eco-tech accounts for 33%, clean tech for 29%, carbon tech for 29%, and geo-tech for 9%. Regionally, the capital area accounts for 67%, Yeongnam area for 14%, and Chungcheong area and Gangwon area for 10% each.
The commission plans to continue evaluations in the second half of the year to select more than 40 additional companies. Companies wishing to participate can check the announcements and application status, and benefits through the ‘Net Zero Challenge X’ integrated website or participating organization websites.
At the end of the year, a performance-sharing conference will be held where participating organizations and selected companies gather to share technology and product exhibitions, promotions, and operational improvements.
Min Sang-ki, Director of the Green Growth Bureau of the Secretariat of the Commission, said, “Net Zero Challenge X is a collaboration between technology and finance for carbon neutrality and green growth,” and added, “We will strengthen the climate technology startup ecosystem and make it a future growth engine.”
