On the 4th, KT&G (President Bang Kyung-Man) announced the selection of 10 teams for the 8th iteration of the "KT&G Sangsang Startup Camp," aimed at discovering and nurturing young social innovators and entrepreneurs.

This recruitment targeted two categories: the "Growth Track" for teams in the seed stage, within 3 to 10 years of founding, and the "Global Track," intended for those looking to enter the Indonesian market, a notable target for global startups. The evaluation considered various aspects such as the potential to solve social issues, business sustainability, feasibility of execution, and funding capabilities.

As a result of the evaluation, five teams were selected for the Growth Track, including "DeepVisions (fine dust measurement solution)," "Returnall (return solution)," "Yatav Entertainment (virtual environment counseling solution)," "Viroute (alternative protein)," and "Flip (employment and flower delivery for hearing-impaired florists)." Additionally, five teams were chosen for the Global Track, including "Slunch Factory (vegan instant food)," "Yunhoi (clothing lifecycle solution)," "Rovigos (logistics inventory and demand forecasting system)," "Green-Continue (eco-friendly leather development)," and "Dive Group (in-room hotel content solution)."

The teams selected for the Growth Track will receive up to 50 million won in business support funds and opportunities for investment attraction. Those in the Global Track will be given opportunities to network with local industry professionals and venture investors in Indonesia. Additionally, all selected teams will be provided with a variety of programs, including expert mentoring and capacity building education for systematic growth strategy development over four months.

Cho Kyung-woong, the General Manager of Operations at KT&G Sangsang Planet, stated, "KT&G has been operating a differentiated startup incubating program to support the growth of young people dreaming of social innovation through entrepreneurship. We will continue to support young individuals, the protagonists of the future, to exert a healthy influence on the local community."

The "KT&G Sangsang Startup Camp" is a youth startup support program designed to solve social issues through business, offering expert mentoring and practical education to help young people emerge as social innovation entrepreneurs. Since its start in 2017, it has run 7 cohorts up to last year, producing a total of 144 startup teams, generating over 42 billion won in cumulative sales and creating employment for over 830 individuals. Thirty-six teams have also made it into the government's "Social Enterprise Promotion Project." For these contributions, KT&G received the Presidential Commendation for Job Creation in 2022 and the Presidential Commendation for Social Economy Contributions in 2021.

(Photo Description) On the 4th, KT&G selected 10 teams to participate in the Growth and Global Tracks of the 8th "Sangsang Startup Camp" at KT&G Sangsang Planet located in Seongsu-dong, Seoul. The photo shows Yoon Daegun, representative of Returnol, presenting at the face-to-face evaluation on the same day.