Press

NewBlack, an impact company builder, will launch a new investment program called the Company Building Program in March, which connects startup education to investment. In particular, the company plans to actively utilize data accumulated by its subsidiary Underdogs in fostering entrepreneurs to discover ESG innovation startups. NewBlack is an impact company builder with a portfolio of 4 subsidiaries and 8 invested companies. This year, through a new investment program, the company plans to discover 15 teams of ESG innovation startups with both social value (SV) and economic value (EV), accelerating its leap as an impact company builder. NewBlack highlighted 'the introduction of a recommendation method from Underdogs startup coaches' as a differentiator of this program. While all startup education graduates from Underdogs, a NewBlack subsidiary, were previously investment candidates, in the new program only graduates recommended by Underdogs coaches who have closely observed educational growth become investment targets. The intention is to invest only in ESG innovation startups with confirmed growth based on qualitative data accumulated by Underdogs. Prior to the full-scale program launch, NewBlack executed investments in two companies as Batch 0 last year: Waroe, a salad specialty restaurant, and Planon Mars, a virtual space 3D content company. Waroe is a salad specialty restaurant that creates jobs for youth preparing for independence and reduces carbon emissions through local food initiatives. Planon Mars is a virtual space 3D content specialist that develops VR platforms enabling everyone to access events without restrictions. Invested companies will undergo customized company building, providing tailored solutions based on startup stage and challenges, while facilitating follow-up investments. Additionally, the company will provide organization culture workshops where group missions and visions are set while respecting individual direction and pace, and offer a travel program through Ciao Trip where NewBlack subsidiaries and invested companies build relationships and discover collaboration opportunities. NewBlack CEO Kim Jung-heon stated, "NewBlack will become a partner that builds companies together beyond the relationship between investor and investee. Please show interest in and watch over the ESG innovation startups that NewBlack invests in." He added, "NewBlack will continue to strengthen social impact through linked and virtuous cycle strategies within the group."