CJ OliveNetworks Is Discovering Excellent Solutions of Small and Midsized Enterprises(SMEs)



- Supports the verification and commercialization of IT solutions of startups and SMEs since 2016 through its in-house “Excellent Solution Review Committee”
- Has selected various solutions including a security solution, and actually applied the solutions in the group’s subsidiaries for win-win development

[CJ OliveNetworks = December 11, 2018] CJ OliveNetworks is discovering excellent solutions of Korean SMEs in the IT business field. It is thus not only providing them with the opportunity for win-win growth, but also actively taking the lead in creating a healthy IT ecosystem. 

Now in its third year, CJ OliveNetworks’ activities to discover excellent solutions of startups and SMEs, as well as support the commercialization and expanded supply of the discovered and verified solutions, are actually leading to win-win cooperation.

Such activities are held quarterly by the “Excellent Solution Review Committee” consisting of in-house IT experts. The committee evaluates the technology and business potential of solutions selected first through a preliminary screening and then decides whether to support their commercialization. In the process, they get to comprehensively review the solutions’ performance, architecture efficiency, differentiating factors from other solutions, marketability, and financial health.  

The committee has thus adopted solutions from a total of 10 Korean IT venture firms, including ASD Korea, Teruten, and Abenecel, until this year, and provided them with opportunities to create new businesses.

For instance, in June 2017, CJ OliveNetworks launched “CJ Drive” as a cloud service utilizing the Cloudike file sharing solution of ASD Korea. The solution has the advantage of systematically managing data based on Software as a Service (SaaS). Based on this solution, CJ OliveNetworks has reinforced the access security to documents, such as watermark features and download limitations, and introduced the solution in-house, thereby contributing to the safe-keeping and sharing of files, as well as work efficiency. 

CJ OliveNetworks also applied “T-Cube,” the screen-capture preventing solution by Teruten, a company specializing in data security. The solution was applied to “Olive G,” an IT infrastructure service exclusively for the general agencies (GAs), to reinforce the screen security of virtual desktop infrastructure (VDI) of dozens of insurance firms. 

Moreover, CJ OliveNetworks played the role of a bridge so that image and video compressing solutions, personal information protection solutions, and other solutions would be applied in the group’s subsidiaries. The company is thus working to create more cases of win-win cooperation with SMEs. 

“The IT competency and development capacity of Korean SMEs and venture firms are competitive compared to their foreign counterparts. We will continue to discover excellent Korean solutions and support their commercialization for not only technological exchanges but also to fulfill our role as a reliable partner,” a CJ OliveNetworks officer said.  

Other than discovering excellent Korean solutions, CJ OliveNetworks has been operating “Hubpot (www.hubpot.co.kr)” since 2016 as an online open innovation platform for supporting the growth of startups and creating a win-win IT ecosystem. The company discovers promising startups and venture firms through Hubpot, as well as supports their mentoring and acceleration for the early stabilization of their business models. (The end)