CJ OnStyle Selects 10 'Challenge Startup' Companies... "Support for Development and Market Expansion"

Final Selected Companies to Receive 200 Million KRW Prize Money

[Asia Economy Reporter Lim Chunhan] CJ OnStyle announced on the 22nd that its win-win program for small and medium-sized enterprises (SMEs), ‘Challenge! Startup,’ has selected a final group of 10 companies after approximately two months of consulting and prototype evaluation. The selected companies will be provided opportunities to appear on CJ OnStyle TV home shopping and live commerce broadcasts, along with a total support fund of 200 million KRW.

Challenge! Startup is a win-win program designed to transfer comprehensive business know-how to SMEs and startups. The 10 companies selected this time are innovative firms that demonstrated product technology and excellence through a three-stage evaluation and expert consulting education process. In June of this year, about 30 companies were initially selected after a roughly two-week recruitment period. Seoul Startup Hub and CJ OnStyle provided these companies with individual consulting on product planning, branding know-how, and market development. From these, 20 companies were shortlisted and supported with separate prototype production and mass production costs. At the end of last month, through a demo day and multi-faceted evaluation, 10 companies were finally selected, each awarded 10 million KRW, and signed entry agreements.

The companies selected this time are startups with unique business ideas and product technologies. The electric bicycle newly developed by Bokyong is expected to attract high customer interest as an eco-friendly mobility option with growing demand. The distance measuring device, introduced by R&ders, considers the recent surge in golf population. Seohyun PMS launched a near-infrared heating mat that promotes automatic exercise, reflecting the diet craze, and the cervical heat therapy pillow developed by Pi Healthcare improves sleep quality.

A CJ OnStyle official stated, “Challenge! Startup is a win-win program that recruits and selects companies through fair competition to support SMEs with high growth potential and excellent technology but still lacking business capabilities,” adding, “We will establish strong cooperative relationships with outstanding companies in various fields that can realize the values of coexistence and sharing.”

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