"CJ CheilJedang Launches Frontier Labs 2nd Cohort to Discover Promising Startups"
Expansion of Recruitment Areas to Future Innovation Fields Including Big Data and AI
[Asia Economy Reporter Eunmo Koo] CJ CheilJedang announced on the 16th that it is recruiting the 2nd batch of ‘FRONTIER LABS,’ a program to discover and nurture promising startups.
Since July last year, CJ CheilJedang has been running a program in collaboration with the global accelerator ‘SparkLabs’ to select and invest in startups with outstanding technology and ideas. In the 1st batch, early investments were made in ‘EloyLab,’ which detects food foreign substances using artificial intelligence (AI) and hyperspectral technology; ‘Itgreen,’ which offers a zero waste container rental service called ‘Returnit’; and ‘Better Monday Korea,’ a beverage-based online and offline platform. Currently, EloyLab is conducting tests applying its food foreign substance detection solution in production factories, and Better Monday is engaging in joint marketing for new products, creating various collaboration opportunities. Additionally, EloyLab secured follow-up investment through a demo day held at the CJ CheilJedang Center on the 10th.
The newly launched 2nd batch will expand its recruitment scope beyond health, environment, and technology fields related to the food industry to include future innovation areas such as big data, AI, and sensors. The Korea Agricultural Technology Commercialization Foundation will also participate to enhance expertise. Applications for the 2nd batch of FRONTIER LABS can be submitted through the program’s website until 6 p.m. on the 4th of next month.
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A CJ CheilJedang official stated, “In the 1st batch, many startups with trendy and excellent technologies and platforms participated, providing insights into future growth engines and creating various collaboration opportunities. Going forward, we plan to combine CJ CheilJedang’s infrastructure with the expertise of the Korea Agricultural Technology Commercialization Foundation and SparkLabs to develop FRONTIER LABS into a healthy growth program between startups and companies.”
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