CJ O Shopping Conducts Consulting for First Selected Companies in 'Challenge! Startup'

CJ O Shopping's win-win program 'Challenge! Startup' is conducting individual consulting sessions for companies selected in the first round of the contest.

[Asia Economy Reporter Lim Chun-han] CJ O Shopping announced on the 12th that its win-win program ‘Challenge! Startup’ will provide individual consulting to the companies selected in the first round of the contest. The program offers three weeks of coaching on the overall product development process, including product planning, branding, and market development, along with support for prototype production costs.

CJ O Shopping and Seoul Startup Hub announced the selection of 26 companies participating in the consulting on the 6th. In line with the program’s purpose of fostering startups based on innovative technology and manufacturing, many idea products incorporated Internet of Things (IoT) technology, such as planter interior mood lights, ultra-compact electric cargo vehicles, and gesture recognition wearable mice. The consulting for the first-round selected companies of Challenge! Startup is jointly conducted by experts from Seoul Startup Hub and product planners (MDs) from CJ O Shopping. Seoul Startup Hub provides coaching in prototype development and production, along with prototype manufacturing services.

CJ O Shopping designed a highly practical training course with actual commercialization potential in mind. It plans to offer consulting on product planning, branding know-how, and market development through TV home shopping and online malls. After the consulting, about 20 companies from the first round will be re-selected in the second round through a demo day scheduled for the end of April. Among them, the 10 final selected companies will receive benefits including ▲prototype production costs worth up to 60 million KRW ▲one-year use of Seoul Startup Hub coworking space ▲entry into CJ O Shopping home shopping and mobile live broadcasts ▲and listing on CJmall.

A CJ O Shopping official said, “Challenge! Startup is a differentiated win-win program that provides not only financial support but also expert consulting for actual business promotion,” adding, “By sharing know-how on distribution and business in addition to support for product development and launch, we will fully nurture startups and lead ESG management in the industry.”