Smilegate, recruitment of orange farm batch for startups

Smilegate, recruitment of orange farm batch for startups

The Orange Planet Startup Foundation (Center Director Seo Sang-bong, hereinafter ‘Orange Planet’) announced on the 1st that it will recruit the 3rd Orange Farm deployment for preliminary and early startups.

The recruitment targets are the preliminary and early start-up teams that prepare for start-ups in all areas of information and communication technology (ICT) and bio-based areas. Startups wishing to support can be accepted online by 3 pm on Wednesday, September 21.

Orange Farm is a program that supports startups to embody business models and to find PMF (Product Market FIT, Products and Consumer Suitable) to grow independently. Since 2014, it has been providing a start-up environment and mentoring for preliminary and early start-ups that have been selected every month. Since last year, the company has expanded its benefits to start-up support, and has been recruiting two more placements per year in addition to the existing regular recruitment so that more young entrepreneurs can be supported.

The preliminary and early start-up teams selected for recruiting the Orange Farm can benefit from providing business infrastructure such as the Orange Planet Gangnam Center, ▲ Mentoring of senior entrepreneurs, and attracting investment. For teams wishing to enter the global market, there are additional opportunities such as local entering seminars, global company matching, and local partner matching.

Although the basic benefits of the Orange Farm are the same, the difference is that the venture capital (VC) Smilegate Investment will participate as a partner and invest in all teams selected. Depending on the value of the team, the investment can be attracted at least 50 million won. The investor judging station is based on periodic mentoring even after the investment execution, and supports the parts necessary for the upgrade of the business after starting a business.

At the time of recruitment of the Orange Farm Batch, four teams were selected and successfully attracted 400 million won. In the 2nd place recruitment from March to April, Luden City (CEO Han Dong-sik, 5060 Women’s Fashion Curation Service ‘Labim’) ∙ Jeong Gu-il, Super Personalization Screen Shot Service ‘SHOTAG’), ▲ Caring Pim (CEO Jang Han-sol, Senior Care Service ‘Care Service’ Very Care Service) ‘), ▲ A total of six teams were selected, including a company (CEO Shim Byung-chan, Micro Delivered DB-based Travel Luggage Transport/Storage Solution’ DOLDOL ‘O2O Platform). Three of them have achieved investments through this program, and the other three teams are also discussing investment.

Meanwhile, the company’s value for startups has been supported by Orange Planet for the past eight years, reaching 2.16 trillion won in the first half of 2022. The Orange Planet operates a customized program for each stage of start-up that leads to the Orange Park-Orange Garden-Orange Farm-Orange Valley, and has been trying to create a start-up ecosystem where startups can continue to grow.

An official of Orange Planet said, We expect the growth program of Orange Planet and the investment of Smilegate Investment to create synergy, which will help preliminary and early startups. We plan to apply for various fields so that businesses grow rapidly with ‘reserve unicorns’.

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