Lotte Mart Hosts 'Retail Tech & Service Startup Challenge'

[Asia Economy Reporter Seungjin Lee] Lotte Mart is collaborating with Lotte Accelerator and Busan Creative Economy Innovation Center to conduct the 'Lotte Mart Retail Tech & Service Startup Challenge' until July 15, recruiting five startups with diverse technologies.

The 'Lotte Mart Retail Tech & Service Startup Challenge' is divided into two categories: the 'Retail Tech' sector, which includes location-based technology, big data, VR·AR, and the 'Retail Service' sector, which includes sharing economy, media commerce, and subscription economy technologies.

Startups established within the last seven years are eligible to apply. Applicants can download the application form from the Busan Creative Economy Innovation Center website and submit it via email.

Lotte Mart will conduct document evaluations for startups that apply during the recruitment period from July 16 to 22, and through subsequent presentation evaluations, will provide the final five companies with a 'POC (Proof of Concept)' opportunity.

Selected startups through the challenge will collaborate with Lotte Mart's operational teams and receive mentoring from Lotte Accelerator from August to October during the POC period. They can also compete for a prize of up to 15 million KRW at the pitching day scheduled for November.

Additionally, outstanding companies may be considered for investment linkage with Lotte Accelerator and business partnerships with Lotte Mart channels.