On May 11, SK Innovation announced the recruitment of participants for its new social contribution program, 'AI Impact Solution.' This initiative aims to discover and nurture startup teams that develop AI-based solutions to tackle energy and social challenges. The program is hosted and sponsored by SK Innovation, with operations managed by Qunesty, a foundation specializing in impact investment and acceleration.
SK Holdings, the holding company of the SK Group, is setting a direction for creating social value at the group level. It measures and publicly discloses the outcomes of corporate activities in areas such as employment, environment, and social contributions in monetary terms. The group also invests in social ventures that generate profits while addressing social issues and provides incentives based on the achievements of social enterprises, contributing to the establishment of a sustainable ecosystem.
As SK Innovation transitions from a refining and chemicals-focused company to an eco-friendly energy enterprise, it is intensifying its efforts to address environmental issues. The company aims to achieve net-zero emissions by 2050, actively reducing carbon emissions while expanding its circular economy initiatives, such as the pyrolysis of waste plastics and the recovery of metals from used batteries. Additionally, it collaborates with startups in the environmental sector on projects involving seaweed-based biodegradable plastics and coffee grounds recycling to help solve problems related to carbon emissions, waste, and resource depletion.
The program is designed to provide comprehensive support beyond just idea solicitation, encompassing nurturing, commercialization, and investment linkage. Ten selected teams will receive funding for proof-of-concept development, along with mentoring from experts in AI technology, business, and impact fields, as well as support for commercialization and follow-up investment. Outstanding teams will be eligible for additional funding of up to 20 million won for subsequent commercialization and enhancement efforts.
In its second year, the program will continue to provide additional support to top teams through the Ministry of SMEs and Startups' TIPS program for discovering and nurturing entrepreneurs, as well as impact investment connections.
The recruitment focuses on two tracks: 'AI for Energy' and 'AI for Social Issues.' The 'AI for Energy' track seeks solutions addressing energy accessibility, efficiency, and carbon reduction, while the 'AI for Social Issues' track invites ideas for solving social challenges related to care, safety, environment, mobility, and education.
Individuals or teams of five or fewer can apply, provided that businesses and social economy organizations are within three years of establishment. Teams that include socially disadvantaged members will be given preference. The application period runs from May 11 to June 12, and applications can be submitted through the official website.
An SK Innovation representative stated, "AI technology is driving change not only in industrial innovation but also in addressing various social issues. We plan to provide practical support from idea validation to commercialization."
* This article has been translated by AI.
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