Lotte Ventures, a corporate venture capital (CVC) of Lotte Group, announced on the 28th that it has finally selected 10 startups to participate in the 13th L-CAMP (hereinafter referred to as L-CAMP) and the 5th Future Food Changers (Future Food: Dan, The Food Changers) programs.
Elcamp is Lotte Ventures' representative accelerating program, where dedicated investment reviewers are assigned to each company to provide close support for open innovation and business growth between startups and Lotte Group affiliates. This year, startups with potential to pursue technology development, collaboration, and joint commercialization models with Lotte Group affiliates were finally selected, and through this, we expect to create tangible linked results.
The 13th Elcamp and the 5th Mirae Food have selected 10 promising startups in various fields, including AI, manufacturing, eco-friendly, IT solutions, and food tech. A dedicated investment reviewer will be assigned to each company to support the necessary areas for the startups’ business growth and come up with ways to cooperate with the startups and Lotte Group affiliates.
The selected companies are ▲Jobex (precision agriculture and seed analysis solution), ▲A.Cure (AI model for heart failure diagnosis and severity prediction based on voice data), ▲Omelette (development of foundation model for logistics robot operation using AI-based routing engine algorithm), ▲OpenFormat (referral marketing SaaS solution), ▲S.Omni (sleep care solution that solves chronic fatigue and insomnia in office workers), ▲T.D.B (AI-based all-in-one branding solution).
Also, for the 5th Future Diet, 4 companies were finally selected. The selected companies are ▲Romansive (development of customized sleep food), ▲Maewolmaeju (one-stop solution for mainstream PB based on brand IP), ▲Nanu (eco-friendly pulp containers and packaging solutions to replace disposable plastic), ▲ABBR (sustainable alternative coffee business based on upcycling of beer byproducts).
Meanwhile, Lotte Ventures held an orientation for the selected companies on May 28. Around 70 people including Lotte Ventures investment review officers and Lotte affiliates participated in the event, which not only discussed investment but also PoC between the companies and Lotte affiliates. In particular, Lotte Shopping e-Commerce Director Eunsoo Kim, former L-CAMP 2nd batch ▲Mobidu (SaaS-based private mall live commerce solution) CEO Yoonhee Lee, and Miraesikdan 2nd batch ▲MyNormalCompany (low-carbohydrate, ketogenic food & lifestyle brand) CEO Hyeongjin Lee participated as senior companies and shared with this year's companies ways to reduce trial and error in the early stages of a startup and establish effective growth strategies, as well as practical know-how for a successful PoC.
Lotte Welfood, Lotte Central Research Institute, Lotte Hotel, Lotte Home Shopping, Lotte Mart, Lotte Duty Free, Lotte Shopping e-Commerce, Korea Seven, Lotte GRS, Lotte Construction, Lotte Members, Lotte Global Logistics, and Daehong Planning will participate as mentors in the 13th L-Camp and 5th Future Diet programs and will conduct PoC (Proof of Concept, verification of the feasibility of technology or project) with selected companies for 4 months. The Korea Institute for Startup & Entrepreneurship Development, Korea Institute of Agricultural Sciences and Technology, and ACNDC will also participate as partners in the program.
Lotte Ventures CEO Kim Seung-wook said, “Lotte Ventures is focusing on discovering promising startups that can collaborate with group companies and supporting their growth through acceleration and investment,” and added, “We will spare no support company-wide so that the startups selected this year can grow together.”
Meanwhile, Lotte Ventures will support selected companies with PoC and commercialization linkages between group companies, acceleration programs, and vouchers, and will also operate an office hour program with prominent speakers from each field. In addition, Lotte Ventures’ direct investment will also be actively considered.
At the final demo day scheduled for November, Lotte Ventures plans to build a sustainable, mutually beneficial partnership between startups and Lotte Ventures by sharing each company’s performance across the company and providing opportunities for follow-up collaboration and investment attraction.
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