KT&G (CEO Baek Bok-in) will launch ‘KT&G × Seoul Startup Open Innovation’ with the Seoul Startup Hub to select startups with innovative technology capabilities, and recruit participating companies until October 5. 

KT&G plans to select start-ups with competencies such as developing new technologies and eco-friendly materials for future business and build a customized win-win business model through follow-up support. Startups wishing to participate in the program can apply through the Seoul Startup Hub website (http://ktng.startup-plus.kr)

Recruitment will be carried out for a total of 12 fields. There are 7 fields, including △ eco-friendly material technology for small electronic devices related to KT&G's business, 2 fields such as △ food tech and solutions of subsidiary KGC, and 3 fields, including COSMOCOS △ hair care technology and materials. KT&G will select 10 startups and hold a 'Meet-up' event on October 27. Details related to the program, such as the field of recruitment, can be found on the application page.

KT&G plans to carry out business cooperation and PoC (Proof of Concept) processes with the startups finally selected through the ‘Meetup’, and also plans to review technology branding and direct investment for the future. In addition, through the Seoul Startup Hub, the company will provide a wide range of follow-up support to strengthen competitiveness, such as commercialization funds worth KRW 10 million, support for office spaces, and connections for investment attraction.

Meanwhile, KT&G has been sponsoring the ‘Asian University Student Startup Exchange Exhibition’ since 2004 and has been operating the ‘KT&G Sangsang Startup Camp’ since 2017 to discover and nurture young entrepreneurs. Last year, in order to expand the field of support for youth startups, KT&G Sangsang Planet, a startup support center with an area of about 4,000 square meters, was opened in Seongsu-dong, Seongdong-gu, Seoul, the mecca of social ventures.

Lee Woong-gyu, head of KT&G's Growth Investment Department, said, "Through collaboration with promising startups, the KT&G Group will discover future growth items and build a shared growth model." He added, "We hope to provide a lot of support for innovative start-ups who wish to grow together with KT&G.”

(Photo Description) ‘KT&G × Seoul Startup Open Innovation’ recruitment poster