CJ NowCJ Investment to Launch an Accelerator Program to Fuel CPWS-driven Growth
The company’s first accelerator program since being established as the Group’s CVC.
CJ Investment, a corporate venture capital (CVC) of CJ Group, will be launching an accelerator program for promising startups, which will function as new growth engines for the company’s C.P.W.S(Culture, Platform, Wellness, Sustainability)-driven innovation.
CJ Investment announced on the 21st that it will be accepting applications from companies wishing to participate in ‘D.Day x CJ Lifestyle,’ an accelerator program organized in joint with D.Camp (Banks Foundation for Young Entrepreneurs), which has been designed to discover, invest in, and incubate early-stage startups that have the right set of innovative technologies and ideas.
‘D.Day x CJ Lifestyle’ is the first accelerator program the company is hosting after being re-established as CJ Group’s CVC. In its inauguration ceremony last August where the firm announced the change in the company name and its re-organization as a CVC, CJ Investment emphasized that it will be expanding its function as an accelerator by preemptively discovering, investing in, and supporting early-stage startups showing high potential.
Prospective participants should have a post value (corporate value post investment) of less than 10 billion won, with plans to attract seed to pre-series A investment. A total of 5 startups will be selected through document screening and business plan presentation.
A total of 5 participants to be selected from the lifestyle sector, who will receive various perks, including possible investment and access to co-working spaces.
Selected participants will get to participate in IR programs to network and discuss potential opportunities for investment with officials from CJ Investment and D.Camp as well as outside investors at ‘D.Day x CJ Lifestyle,’ which will be held on April 27th at D.Camp’s office located in Yeoksam-dong, Gangnam-gu, Seoul. In addition, they will have access to a number of perks, including a small cash prize, possible investment from CJ Investment and D.Camp, and being able to use D.Camp and Front1, which are co-working spaces for startups, for at most a year.
Qualified startups should have a business model that can be converged and integrated seamlessly with CJ’s global lifestyle portfolio in the following criteria: food and bio, logistics and new distribution, entertainment and media, or any other new business areas that can be fused with the Group’s venture. Details regarding the application process and qualification criteria are available on D.Camp’s website, with applications being accepted until March 17th.
“Our goal is to accelerate the innovation of our business models centered around the four growth engines by proactively discovering and investing in promising companies that have the potential to respond to the rapidly changing market. We are excited to incubate and accelerate early-stage startups that have creative ideas and outstanding capacity,” explained Kim Do-han, CEO at CJ Investment.