CJ ENM O Shopping Division Begins Coaching for First Round Selected Companies

Part of the 'Challenge! Startup Program'
Expert Consulting Available Until the End of June

[Asia Economy Reporter Cha Min-young] CJ ENM O Shopping Division's excellent startup support program, ‘Challenge! Startup,’ announced on the 28th that it will begin individual coaching for the first-round selected companies of the contest.

The ‘Challenge! Startup’ contest, which began recruiting last month, received applications from over 110 companies. Among them, CJ ENM O Shopping Division evaluated based on product ideas, business plans, and growth potential, and announced 30 companies selected in the first round.

Company coaching will be conducted by experts from Seoul Startup Hub and CJ ENM O Shopping Division. Seoul Startup Hub is responsible for coaching related to product design, development, and production, and also supports prototype production using the infrastructure of the Seoul Startup Hub Product Commercialization Support Center. MDs from CJ ENM O Shopping Division will provide practical consulting on product branding, market entry potential, and TV home shopping sales channel linkage.

In June, 20 companies will be re-selected from the 30 first-round selected companies through a demo day. The second-round selected companies will receive up to 30 million KRW for product mass production costs and opportunities to benchmark excellent overseas startups. In the second half of this year, six final companies will be selected from these, receiving a total support fund of 100 million KRW and the opportunity to advance to CJ O Shopping’s free broadcast ‘1 Company 1 Premium Product.’

Challenge! Startup is a win-win program by CJ ENM O Shopping Division in collaboration with Seoul Business Agency to discover excellent startups with innovative technologies such as IoT and AI, supporting product development, marketing, and sales channels. The goal is to support startups with innovative technologies to grow into strong small and medium enterprises and contribute to the revitalization of domestic startups.

Lee Ho-beom, Head of External Cooperation at CJ ENM O Shopping Division, said, “We hope this program will be a driving force for many startups and small businesses struggling due to COVID-19 to rise again,” and added, “We will actively develop and promote win-win programs that provide practical help for the growth of domestic startups and industrial revitalization.”

This content was produced with the assistance of AI translation services.