Lotte Super Announces Recruitment for Startup Open Innovation Challenge

Lotte Super will start recruiting for the 'Startup Open Innovation Challenge 2022' on the 16th in collaboration with Lotte Ventures and the Busan Creative Economy Innovation Center.

[Asia Economy Reporter Lim Chunhan] Lotte Super announced on the 15th that it will start recruiting for the 'Startup Open Innovation Challenge 2022' on the 16th, together with Lotte Ventures and the Busan Creative Economy Innovation Center, to discover and nurture promising startups.

The Startup Open Innovation Challenge is a representative open innovation program designed to discover promising startups with the technology and services needed by large corporations, provide opportunities for collaboration with large corporations and market validation of technologies and services, and ultimately lead to potential business partnerships.

The recruitment fields include ▲ unmanned phone order service ▲ store condition recognition (out-of-stock/display) ▲ customer self-checkout ▲ artificial intelligence (AI) big data recognition ▲ and other free topics that can contribute to increasing Lotte Super’s customers and sales, totaling five categories. Any startup less than seven years old located nationwide with technologies or services to propose to Lotte Super is eligible to apply.

A total of three companies will be selected. The selected companies will undergo a verification phase based on collaboration with Lotte Super’s on-site teams for about six months, after which they will be provided with opportunities for business proof of concept (POC) within Lotte Super’s online and offline sites. Through the Busan Creative Economy Innovation Center, each company will also receive up to 10 million KRW in commercialization support funds. After the POC support ends, there will also be opportunities to pitch for successful future investment attraction.

A Lotte Super official said, “Through the Startup Open Innovation Challenge, we hope Lotte Super gains future innovative ideas and startups gain commercialization opportunities,” adding, “We will continue to make efforts in various ways to fulfill our corporate social responsibility.”