CJ CheilJedang Invests in Startups to Innovate the Future Food Industry Together

Selected startups receive early investment and mentoring for follow-up funding
In March this year, the in-house CVC New Frontier team was established to discover future businesses

[Asia Economy Reporter Lim Hye-sun] CJ CheilJedang is nurturing promising startups that will create a new paradigm in the food industry.

CJ CheilJedang announced on the 15th that it has launched the 'Frontier Labs' program. This program, conducted jointly with the global accelerator SparkLabs, selects startups with technology and ideas and provides initial investments ranging from 50 million to 100 million KRW per company. To this end, CJ CheilJedang has invested 1 billion KRW. After a three-month expert mentoring process, additional investments will be made.

In particular, follow-up investments apply a Fast Track system that decides on investment immediately after the demo day, enhancing execution speed through quick investment decisions. Selected companies plan to seek business opportunities not only domestically but also in global markets through various partnership opportunities with CJ CheilJedang.

The recruitment areas are divided into three fields: Taste & Wellness (nutrition & health, alternative protein, traditional foods), New Normal (personalized technology, food tech, smart cooking), and Sustainability (smart farms, food upcycling). Applications for Frontier Labs are open from today until the 6th of next month.

In March this year, CJ CheilJedang established the New Frontier Team under the Food Strategy Planning Office, functioning as an in-house venture capital to actively pursue strategic investments. The main areas of interest include alternative protein, health functional foods, and food tech, investing not only domestically but also in overseas funds and startups to discover future businesses.

A CJ CheilJedang official said, "In a situation where global food trends are rapidly changing, collaboration with startups is essential to respond agilely to the market. By combining CJ CheilJedang’s research and development infrastructure with SparkLabs’ startup nurturing expertise, we will seek opportunities for future growth and create a healthy industrial ecosystem."