Press

Bongroup has announced the start of recruitment for '2024 NEXTBON,' a program to discover and nurture excellent entrepreneurs to secure new growth drivers. 'NEXTBON' is a competition held by Bongroup around September 2nd to commemorate the company's founding anniversary. Following its first implementation in 2022, this year marks the third edition. The program selects startups that can grow together with the group by discovering new investment targets and collaboration partners for existing businesses, while providing strategic and financial support. This year, the competition has been rebranded from 'Bongroup Entrepreneur Discovery Contest' to 'NEXTBON' to embody the purpose of 'accompanying startups on their journey to the next stage' and reflect Bongroup's distinctive characteristics. The program, recruiting until the 23rd of this month, is open to applicants regardless of business field, with preference given to foodtech and age-friendly related businesses, excluding gambling and entertainment industries. Applicants must be at the Series A stage or below as individual entrepreneurs or corporations, and submit a business plan within the deadline. Selected applicants will undergo screening and interviews, and if finally selected, will participate in training programs followed by an evaluation meeting and performance sharing session. Startups selected for NEXTBON's first cohort will receive various benefits. First, Underdogs, a startup education specialist, will provide systematic mentoring and entrepreneurial education in July. Teams selected through the final evaluation meeting held on September 2nd at Bongroup's headquarters will receive MVP support funds and prizes up to 10 million won. Additionally, Bongroup plans to provide selected startups with priority investment review opportunities and collaboration opportunities for bolt-on strategies to leverage synergies with its existing businesses, supporting rapid startup growth through customized benefits. Sung Ju-hwan, team leader of the New Business Discovery Team at Bon IIF Holdings, stated: "We are holding 'NEXTBON' for the third consecutive year to discover new investment opportunities for Bongroup's new growth drivers and to establish a foundation for sustained group growth. Beyond being a representative Korean food franchise, Bongroup is transitioning into a knowledge franchise, and we hope for keen interest and support from those who will grow into decacorns with us." Meanwhile, through last year's '2nd Bongroup Entrepreneur Discovery Contest,' eco-friendly plastic alternative technology startup 'The Day One Lab' received the grand prize. Bongroup, evaluating that the startup's material and compounding technology aligns with eco-friendly direction, has invested 1 billion won and is pursuing collaborations with various business divisions. Bongroup, which began with the first Bonzook location on Daehangno in 2002, is Korea's representative Korean food franchise company. The company operates through three corporations: 'Bon IIF,' which operates food franchise brands; 'Bon Food Service,' which specializes in food service and food ingredients distribution; and 'Pure Bon,' which specializes in infant food and liquid diet manufacturing and sales. Simultaneously, Bongroup is pursuing a two-track strategy to discover and nurture new businesses in foodtech, seniors, and platform sectors to secure future food-related opportunities.