CJ has selected 10 companies to participate in the startup incubation program CIAT (CJ Innovated and Advanced Tech) and has set out to provide full support.
▶ CJ has selected 10 companies to participate in the startup incubation program CIAT (CJ Innovated and Advanced Tech) and has set out to provide full support.
CIAT is the program in which six major CJ subsidiaries including CJ CheilJedang, CJ Logistics, and CJ ENM select startups of 3-7 years and help them to develop with the Ministry of SMEs and Startups and Korea Institute of Startup and Entrepreneurship Development. A total 85 companies applied across 3 sectors, such as food tech, logistics & commerce, and entertainment & media, recording a competition rate of 8.5:1. The selected companies received high scores in all aspects of ‘future growth,’ such as win-win growth with CJ, sustainability, and potential competencies.
The 10 selected companies will receive all kinds of support for 10 months in addition to a maximum 300 million KRW for business funds each. First, they will be provided with mentoring and advice about technology and business feasibility from experts in the subsidiaries with which they are matched. They will also be supported in global expansion with the help of CJ America. CIAT will also help them create PR videos to introduce their technologies and services with DI TV partner creators and DADA Studio. A Demo Day will later be held for the companies to introduce their business items and attract investments. CJ will also consider making direct investments and connections to CJ subsidiaries.
CJ CheilJedang will actively support startups in food tech. Four companies will be supported, such as Hubnet Company (a remaining agricultural product price and quantity analysis service based on big data), Wisesolution (a platform providing customized information using web crawling), Agile Soda (AI-based decision-making intelligence software providing customized/recommendation services), and Air Order (smart POS platform for offline stores).
In logistics & commerce, CJ Logistics and Olive Young will each support DB First (Korea’s first location-based truck playground service ‘Tango’ for truck drivers) and FUNLAB (an open market platform ’21 Seconds’ for review content).
CJ ENM, CGV, and TVING will participate in entertainment & media. CJ ENM will support the growth of CMES (AI R&D data automatic extraction and automatic model learning solution) and Tech Village (a VR training game solution to improve mobility and cognitive functions of the elderly). CGV will collaborate with Korea Bike Tour (cultural content development and support for offline space business operators), and TVING with GDFLab (UHD content remastering service ‘PikaVue’ using AI vision technology).
“We have high expectations for these startups since they show great future growth potential,” said an official at CJ Group. “We will provide generous support to help them grow into next-generation unicorns based on CJ’s strengths in food, logistics, and media.”