Orange Planet Startup Foundation Selects 17 Teams for Second Half Regular Recruitment

■ AI education Saas, concierge car repair, AI PM, etc., selection of companies in various fields
■ Online incubation program support for companies that fail to pass

Smilegate Orange Planet Startup Foundation (from now on referred to as ‘Orange Planet’, Director Sangbong Seo) announced on Thursday the 10th that it had selected a final 17 teams in the regular recruitment for the second half of 2024.

Orange Planet selected seven teams for ‘Orange Farm’ and ten for ‘Orange Garden’ through a two-month evaluation process. Orange Farm and Orange Garden are names that Orange Planet uses to differentiate startups based on their commercialization stages. Orange Farm is for teams requiring initial investment and full-scale business advancement, while Orange Garden is for teams preparing to start a business and needing initial support.

About 370 teams from various fields, such as manufacturing, education, content, productivity, and mobility, applied for this regular recruitment. Orange Planet conducted a thorough review through documents, interviews, and PT. Smilegate Investment also participated in the selection process and reviewed the investment.

Orange Planet plans to provide customized support for the selected team, including education coaching, mentoring, and global expansion based on each team’s business progress and stage. The Orange Farm selected team will receive office space support for 12 months starting in October 2024. They will receive an investment of up to 500 million won and venture capital (VC) mentoring to attract follow-up investment and investment opportunities linked to the Technology Incubation Program (TIPS) led by private investment.

Teams selected for Orange Garden will receive support for establishing a profit model, market entry strategy, and office space until March of next year. They will also have opportunities to attract investment. All selected teams will receive various benefits, including mentoring from senior entrepreneurs and networking with family startups. Teams that are not selected will also have the opportunity to participate in a six-week online growth support program.

Seo Sang-bong, head of the Orange Planet Center, said, “Over the past ten years, we have truly supported entrepreneurs to achieve success, creating a virtuous cycle in which that success leads to more opportunities and more success.” He added, “To realize Smilegate Group’s vision of ‘Creativity-Creation-Entrepreneurship*,’ we will provide startups and entrepreneurial teams with education, mentoring/coaching, and investment attraction opportunities in various ways.”