Foodtech startup Laurenchu Company announced that it was finally selected for 'Little Penguin,' a promising startup incubation program of the Korea Credit Guarantee Fund.
'Little Penguin' is a representative fostering program of the Korea Credit Guarantee Fund that discovers and intensively supports early-stage startups with high growth potential. Selected companies will receive various customized support such as guarantees, expert mentoring, and investment linkage along with financial support of up to 1 billion won. Approximately 20 companies are selected each year.
With this selection, Lauren Chu Company has also been recognized for its potential to become a ‘First Penguin’ in the future. First Penguin is a follow-up support program in which the Korea Credit Guarantee Fund provides a guarantee of up to 3 billion won for up to 3 years to innovative start-ups with technological prowess and creativity.
Lauren Chu Company operates Korea’s first self-developed non-alcoholic wine brand, ‘Chupper Market.’ They are researching and developing a patented manufacturing method that removes only alcohol while maintaining the wine’s unique flavor based on aroma recovery and flavor restoration technology.
“This selection is an important turning point that will enhance our brand competitiveness in the global market beyond the domestic market,” said Lauren Chu Company CEO Kyung-eun. “We will grow into a wellness company that presents a new drinking culture that takes health and the environment into consideration.”
An industry insider said, “The non-alcoholic market is a high-growth sector that goes beyond simple beverages and combines functionality and sustainability,” adding, “The selection of Laurentchu Company, which possesses both technological prowess and brand philosophy, is evaluated as a positive signal that will attract the attention of future investors.”
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