CJ Launches 'Globentus 2nd Cohort'... "Supporting Startup Expansion"

Published 11 Mar.2024 09:24(KST)

Updated 11 Mar.2024 11:20(KST)

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Selected 20 Teams Matched with Fortune 500 Companies

CJ's corporate venture capital (CVC) CJ Investment announced on the 11th that it will conduct the second round of 'CJ Globentures,' a program that supports promising startups and matches them with global companies to induce scale-up (expansion).

The program is co-hosted by the Korea International Trade Association and the Gyeonggi Center for Creative Economy and Innovation (hereinafter Gyeonggi CCI). CJ Investment is responsible for overseeing the entire program, from discovering and selecting startups to global accelerating. The Trade Association supports matching with Fortune 500 companies and linking technology verification (PoC), while Gyeonggi CCI handles global accelerating and connections with overseas venture capital (VC).

Kim Do-han, CEO of CJ Investment

Any startup planning to enter the global market based on a differentiated business model and technological capability can apply for CJ Globentures. Additionally, startups invested in by CJ Group and Gyeonggi CCI, as well as graduates of CJ's startup nurturing program 'Oventures,' can participate. All these companies are exempt from the first round of document screening.

CJ Globentures focuses on the practical global scale-up of startups. From the evaluation stage, participating startups will be matched with interested Fortune 500 large and medium-sized enterprises. Startups selected for CJ Globentures will have the opportunity to explain their technology or business model one-on-one to global companies.

Startups wishing to participate can apply at the Trade Association's InnovBranch by the 3rd of next month. After document screening and interviews, a total of 20 teams will be finally selected on May 27. Among them, up to three teams will be chosen to receive commercialization support funds of up to 20 million KRW per team.

Kim Dohan, CEO of CJ Investment, said, "We expanded last year's first program, which supported global expansion for group investment portfolio companies, to discover and support promising startups with global capabilities starting this year. We will strive to play the first button role in global business expansion through meetups with global conglomerates and PoC connections."