-Recruiting companies to participate in the 8th Oventus and 3rd Globentus in the first half of 2025
-61 startups selected, 48 PoCs conducted, 16 actual contracts signed
-3rd term of 'Globentus', a global expansion program centered on North America, begins in earnest
Practical collaboration with CJ affiliates + all-round acceleration including legal, IR, and financial support
CJ Investment Accelerating Team Leader Kim Joo-hee
“We are partners who solve problems and connect possibilities together.”
CJ Investment Acceleration Team's representative open innovation programs 'O!VentUs' and 'GLO!VentUs' are recruiting startups for their 8th and 3rd batches, respectively. Beyond simple idea contests and lecture-style training, they are creating impact in the startup ecosystem by connecting actual collaborations with CJ affiliates and entry into the global market.
CJ Investment is a corporate venture capital (CVC) of CJ Group, and it goes beyond simple financial investment (FI) and focuses on strategic investment (SI) and collaboration that can create synergy with group affiliates. At the center of this is the 'Acceleration Team', an organization that leads practical connections with startups. They design a structure that can grow together with startups discovered through open innovation centered on problem solving.
The 7th Oventus Demo Day held at COEX in Samseong-dong, Gangnam-gu, Seoul in October 24 – Source: CJ Newsroom
■ 'Oventus' focused on domestic collaboration, 'Globentus' for global expansion
'O!VentUs' is an open innovation program that discovers startups that can collaborate with CJ affiliates. O!VentUs is a compound word of 'Open+Venture+Us', and was planned with the meaning of achieving something together with startups with an open mind. It started in 2019 and is approaching its 8th term this year. So far, a total of 61 startups have been selected, and 48 startups have conducted technology service cooperation verification (PoC) with CJ. Of these, 16 companies have led to actual follow-up collaboration such as actual contracts, introduction of paid services, and signing of MOUs. There are more than 13 participating affiliates including Cheil Jedang, ENM, Olive Young, Korea Express, and CGV, and the number is increasing every year.
PoC is a step that goes beyond simple idea testing and verifies technology or services in a real environment with affiliates. Selected companies will conduct actual PoCs with each affiliate within a year and explore commercialization possibilities through this. Oventus does not stop at simply providing collaboration opportunities, but also includes accelerating functions that accelerate the growth of startups. Various practical consulting services are supported, such as technology verification, business model advancement, brand strategy establishment, presentation opportunities for affiliates, and legal and accounting advice. All of these processes are designed with the goal of actual collaboration with CJ affiliates, so it is a meaningful environment for startups to reduce risks and maximize opportunities.
In fact, food service affiliate 'CJ Freshway' established a mobile meal ticket partnership with restaurant-related startup 'Siksin', a 4th generation of Oventus, and directly invested as a strategic investor, and 'Letser', an AI all-in-one consulting company selected as a 6th generation of Oventus, recently signed a contract to provide artificial intelligence (AI) voice for CJ's in-house broadcasting.
'Globentus' is a program that supports practical matching and collaboration with local companies or institutions for startups aiming to enter the global market. It started in 2023 and is now in its third year, and this year, it focuses on the North American market (USA). Not only startups fostered through the existing CJ investment portfolio or Oventus, but also new companies can be supported, and practical partnerships and entry routes are provided through cooperation with local accelerators, mid-sized companies, local governments, universities, etc. as well as CJ's global network.
Globentus does not simply provide acceleration, but also provides comprehensive support such as pre-consulting for entering the local market, establishing business strategies, flipping (establishing an overseas corporation), localizing IR materials, and providing networking opportunities. For example, startups seeking to enter North America are provided with establishment of a corporation in the US, tax and legal advice, partner connections, and investor meeting opportunities, focusing on the initial settlement and networking that are practically necessary.
In the past two periods, despite the short operating period, three cases of contracts with global companies were concluded. This is a representative example of the synergy between the capabilities of participating startups and CJ's global networking capabilities, as it went beyond simple networking and led to actual business collaboration.
■ CJ Investment’s philosophy: a connector that goes beyond accelerating
CJ Investment Accelerating Team Manager Kim Joo-hee defines their role as an ‘innovation connector.’ Beyond simply operating a program, they take on the role of a connector that helps startups grow continuously in domestic and international markets. They are particularly strong in organic connections and follow-up connections between CJ affiliates, so through Oventus and Gloventus, a one-time connection can develop into a long-term partnership.
In addition, the two programs are interrelated, so if a company participating in Oventus has the potential to advance into the global market, it is recommended to Globentus first, or if a company with experience participating in Globentus is given domestic PoC collaboration opportunities. In fact, one company participated in the Globentus program after collaborating with CJ through Oventus, and continued to meet with global companies and discuss collaboration possibilities based on continuous growth in order to advance into the global market.
The accelerating team selects about 20 teams each year and provides continuous follow-up care and network connections to companies that graduated from the program. Even when matching with a specific affiliate is difficult, we help create meaningful follow-up opportunities by helping to connect with other affiliates or external organizations. In addition, we can provide financial support linked to the investment headquarters by utilizing our own funds, helping to ensure that collaboration leads to actual business growth.
■ For startups that want to connect with CJ Investment
If you are a startup looking to grow with CJ, Oventus and Globentus are worth paying attention to. The Open Innovation Program will begin recruiting sequentially in the first half of 2025, and Globentus could be a great opportunity for startups dreaming of entering the global market, focusing on the US market.
Team leader Kim Joo-hee emphasized, “CJ Investment Open Innovation Program is a rare opportunity to directly conduct PoC with various affiliates of CJ. In particular, Globalus connects global partners and provides practical assistance in overseas expansion.”
An innovation program that can simultaneously target the global market and real collaboration. Now is the time to knock on CJ Investment’s door.
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