‘Jelly Crew’ Operator HandHug Selected as Baby Unicorn by the Ministry of SMEs and Startups

[Asia Economy Reporter Kwak Minjae] Handhug, the operator of the creator commerce platform Jellycrew, announced on the 3rd that it has been selected as a support target company for the Ministry of SMEs and Startups' "Baby Unicorn 200 Nurturing Project."

Handhug provides solutions that monetize content created by creators in various ways based on Jellycrew, a commerce platform where creators participate as sellers. It is currently collaborating with over 400 creator teams. In May of this year, it successfully raised 10 billion KRW in Series A investment from major domestic institutions such as Hanwha Life Insurance and Shinhan Capital.

The Ministry of SMEs and Startups is conducting the "Baby Unicorn 200 Nurturing Project" to continuously create a foundation for unicorn companies to emerge and to support promising startups to grow into prospective unicorns with a corporate value of over 100 billion KRW. Selected companies receive benefits such as new market pioneering funds (up to 300 million KRW), special guarantees (up to 5 billion KRW), and policy funds (up to 10 billion KRW).

Park Junhong, CEO of Handhug, said, "We will provide unique solutions that allow creators' products to grow beyond being consumed as goods into popular brands, and grow as a leading company in the creator economy."

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