"Up to 300 Million Won Investment Per Company"... CJ CheilJedang Nurtures Promising Startups

CJ CheilJedang’s Frontier Labs 6th Batch
Recruiting Agrifood Startups Until May 5

CJ CheilJedang announced on April 14 that it is recruiting for the 6th batch of its open innovation program, "Frontier Labs." "Frontier Labs" is a program that discovers, invests in, and nurtures agrifood startups with innovative technologies and ideas that can collaborate with CJ CheilJedang.

The recruitment categories include: ▲AI and robotics technologies linked to food, ▲next-generation K-Food emerging brands, ▲food distribution and marketing platforms, ▲smart manufacturing and production innovation, and ▲alternative foods and sustainable materials. In addition, promising startups in areas such as ESG (environmental, social, and governance) and climate tech are also eligible to apply.

CJ CheilJedang announced on the 14th that it is recruiting for the 6th batch of its open innovation program, Frontier Labs. Photo by CJ CheilJedang

The application period runs until May 5. Selected startups will receive up to 300 million won in investment per company. In addition, they will be provided with opportunities to collaborate with CJ CheilJedang's business divisions, as well as close support such as business proof-of-concept (PoC) assistance, mentoring, and follow-on investment. Depending on performance, further investment may also be considered.

Starting this year, CJ CheilJedang has established the "Frontier Labs Alliance," a collaborative network with a total of 15 agrifood-focused investment firms and institutions, to discover and nurture promising startups. Each partner will recommend startups and provide support throughout the nurturing process, including investment for selected companies.

This year, the professional accelerator Mark & Company will participate as a co-operating partner. Mark & Company operates "Forest of Innovation," a startup growth analytics platform based on AI and data. It will support systematic nurturing of the 6th batch of Frontier Labs through expert mentoring and matching investments. The Korea Agro-Fisheries & Food Trade Corporation, which has collaborated with Frontier Labs since the first batch, will continue its role as a partner, providing proof-of-concept funding and other support. CJ Investment will also participate as a professional corporate venture capital (CVC) firm, as it did for the 5th batch, and plans to consider additional investment in the selected companies.

Since launching its Venture Investment Team in 2021, CJ CheilJedang has operated the Frontier Labs program through five batches over the past five years, collaborating with a total of 19 startups. The companies selected for the 5th batch are expanding their collaboration not only with CJ CheilJedang but also across the group's affiliates. Gopizza, a single-serving pizza brand selected in the 5th batch, has increased its number of stores to more than 50 within CGV locations in Korea and Indonesia, and has also begun supplying products to the CJ Freshway foodservice channel. The AI-based survey service "Intellisia" and the targeted marketing solution "Team Limited" are conducting consumer research and marketing collaborations with various affiliates.

Heejoon Lee, Head of the Venture Investment Team at CJ CheilJedang, said, "Frontier Labs has established itself as a key platform that proactively discovers promising startups and revitalizes the Korean food tech ecosystem in collaboration with professional investment and nurturing institutions. Going forward, we will provide unwavering support so that innovative startups with differentiated ideas can develop global competitiveness and lead the future food industry through our systematic nurturing program."

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