CJ Opens Innovation Hub for In-house Ventures in Seoul

In pursuit of future growth engines, CJ fosters new in-house ventures Park Minsok (third from the right), CJ Food CEO, and Lee Sunho (third from the left), CGO, is taking a photo with employees from the in-house venture at the community lounge at INNO Play CJ CheilJedang has announced the opening of its new in-house venture hub called INNO Play in Daechi-dong, Seoul. The new office is intended for employees who lead new business development and innovation. A 10,000 square foot space on four floors, INNO Play means ‘a place where innovation happens 365 days a year.’ It facilitates better communication between startups globally and provides a free and creative work environment for professionals. Innovo Play consists of three areas: the Office Zone, Community Lounge, and Kitchen Lab. Seats in the Office Zone are freely selected in an open-plan space without partitions. The space also includes an online meeting system that allows ventures to communicate across the globe without geographical or time limitations. Demo Days and startup networking can be held in the Community Lounge. A Kitchen Lab is equipped with labs for experimenting with new products, tasting them, and shooting videos. Currently, the compound is home to five teams selected through INNO100, CJ CheilJedang’s food in-house venture program, an operational team called the INNO Lab, and the New Frontier organization, part of the Food Growth Promotion Office. The space will be occupied by internal venture teams from the bio business division along with INNO100 teams selected in upcoming rounds. CJ CheilJedang aims to establish an innovative organizational culture through INNO Play, a platform to accelerate the discovery of future growth engines. A CJ CheilJedang official stated, “INNO Play will serve as a frontline base for spreading CJ CheilJedang’s innovative DNA worldwide.”