CJ O Shopping, Challenge! Recruiting Participating Companies for Startup

CJ O Shopping is recruiting companies to participate in 'Challenge! Startup' until the 26th.

[Asia Economy Reporter Lim Chunhan] CJ O Shopping announced on the 15th that it is recruiting companies to participate in its representative win-win program, ‘Challenge! Startup,’ until the 26th.

Challenge! Startup is a win-win program in which CJ O Shopping, in collaboration with the Seoul Business Agency, supports startups with product development, marketing know-how transfer, and product sales for the entire process, targeting startups with product ideas based on innovative technologies such as IoT and AI.

In December 2019, CJ O Shopping signed an agreement to jointly operate the program with Seoul Startup Hub, and last year, it selected six companies for the first time. This year, it will select 10 companies as the second cohort. Seoul Startup Hub is a startup support center jointly established by the Seoul Metropolitan Government and the Seoul Business Agency.

In early April, 30 companies will be selected in the first round based on document screening. Selected companies will receive about three weeks of education and mentoring, including product development coaching, prototype production cost support, and product planning consulting by CJ O Shopping MDs. In May, 20 startups demonstrating excellent performance will be selected through a demo day, and they will receive support for prototype mass production costs. Among them, the final 10 selected companies will receive support worth up to 60 million KRW in the second half of this year and will also be given opportunities to appear on CJ O Shopping broadcasts such as TV home shopping and mobile live.

A CJ O Shopping official said, “We plan to select companies comprehensively judging product development ideas, company growth potential, and business promotion plans in line with the program’s purpose of fostering excellent startups,” adding, “Through Challenge! Startup, we plan to discover small but promising companies and provide full support to realize the value of coexistence within the industrial ecosystem.”

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