Lotte Ventures Hosts Demo Day for L-Camp 8th Batch and Busan 3rd Batch

Launch of Startup Overseas Expansion Support Programs in the US, Vietnam, and More

[Asia Economy Reporter Hwang Yoon-joo] Lotte Ventures simultaneously held the 'L-Camp 8th Batch and Busan 3rd Batch Demo Day' on the 7th at Lotte Cinema World Tower Hall and online. Startups supported by Lotte with initial investment funds and office space participated in the startup demo day and online booths to gain additional investment and business linkage opportunities.

About 600 people, including domestic and international venture investment officials, Lotte executives and employees, and startup stakeholders, attended the demo day both online and offline. At this event, 12 out of 16 startups from L-Camp 8th Batch and Busan 3rd Batch took the stage to introduce their business models and achievements.

Rapique introduced a new technology using plant softening techniques that allows over 95% of plant ingredients to be contained in cosmetics and food products. Using this technology, they are jointly developing beverage products with Lotte Chilsung Beverage, and cosmetics applying the softening technology have sold more than 1.5 million units this year alone.

Recon Labs, which provides a 3D modeling platform service for AR commerce, showcased technology that converts products such as furniture and home appliances into 3D images simply by photographing the products. Recon Labs supplies this technology, which significantly reduces modeling costs and time compared to existing technologies, to companies like Lotte Hi-Mart.

L-Camp 8th Batch and Busan 3rd Batch have achieved meaningful results through Lotte Ventures' program over approximately eight months since last March. Ollink, together with Seven Eleven, introduced the first iPhone easy payment solution in domestic convenience stores and saw its corporate value grow by more than 400%.

Meanwhile, over the past six years, a total of 5,065 startups have applied to Lotte Ventures' L-Camp program, with 166 companies selected, showing a competition rate of 31:1. An analysis of the corporate value (based on venture capital evaluation criteria) of 119 companies from L-Camp up to the 7th batch showed growth from a total of 302.9 billion KRW at the time of entry to 1.1986 trillion KRW in November 2021, about 3.9 times growth. Among them, 57% have already attracted follow-up investments.

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