[Pangyo Issue] Line Friends and Wadiz to launch a startup incubation program to support makers' character products
[ Jane Lee 2020-10-16 ]  
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- In partnership between Line Friends and Wadiz, a new type of cooperation by adding incubating factor of crowdfunding by utilizing Line Friends character IP through the FUNDING & INCUBATING STAGE program will begin

- In addition to providing overall creative consulting to participating startups such as design, product planning, and brand marketing, "incubating" element that can directly communicate with fans in the funding process added to meet product completeness and customer expectations

- Maximized synergy of character licensing business with "third-party collaboration" that combines LINE Friends' character IP business expertise and creative capabilities, Wadiz's crowdfunding know-how, and startup ideas

Global creative studio Line Friends launched a never-seen-before character IP startup incubation program FUNDING & INCUBATING STAGE in partnership with lifestyle investment platform Wadiz, introducing a new way of character licensing business.

This program is evaluated as special in the way that it introduced an incubation format to discover creative startups. Line Friends and Wadiz are inviting startups and small businesses to collaborate by utilizing Line Friends characters such as Brown & Friends and BT21, and after verifying marketability through feedback and funding from consumers and fans, it provides support to enter the global character IP market. Line Friends plans to provide consulting on various aspects of character IP business such as design, product planning, content production, and brand marketing throughout the program.

In particular, the program process will be released as live broadcasting and video content. It is expected to receive spotlight as it showcases fresh attempt of "adding Fanning to Funding" in the venue to directly communicate with the fans of the MZ (millennials and Z) generations around the world who love Line Friends characters.

Line Friends has been introducing various character creatives and competitive IPs that the global MZ generation has been enthusiastic about, and it has developed a different character IP business that other character brands have not tried. This collaboration is also a "third-party collaboration" that combines the ideas of startups and a new distribution platform called crowdfunding with Line Friends' character IP business capabilities and global network, rather than the usual methods such as OEM (order manufacturing) or licensing, adding novelty to the character IP collaboration method.

Through this partnership with Wadiz, Line Friends will lead the global character IP industry by developing new character products and contents that reflect the MZ generation trends, and create a sustainable and enjoyable character business ecosystem by supporting potential startups.

The FUNDING & INCUBATING STAGE program is receiving application from participants from the official Wadiz website for about a month from July 21, and will select 10 teams through a review of both companies. Creative consulting based on Line Friends' character IP business expertise and crowdfunding consulting of Wadiz will be presented to the10 teams that entered the finals, and funding for product production will run after going through a process such as live broadcasting that allows direct communication with fans. A collection of high-quality products that have been successful in funding and passed through Line Friends' strict screening criteria such as product competitiveness, marketability, and CS will be introduced to the MZ generations around the world through Line Friends' global online platform.

An official from Line Friends said, "Through this FUNDING & INCUBATING STAGE program, where Line Friends' character business expertise and unrivaled creative competence and Wadiz's crowdfunding meet, we will continue the success case of a new concept of character IP licensing business. Through this partnership, we will achieve the social value that are beneficial for both parties by providing multilateral consulting and opportunities to enter the global market to competitive startups and SMEs."

One Wadiz official said, "Unlike existing incubation, we will present a new paradigm from financing to production and distribution in that it provides an opportunity for character license business and generates pre-sales without the burden of inventory through funding. We look forward to the participation of many startups who will challenge with Line Friends, which has characters such as Brown & Friends and BT21 that are loved around the world."

Global News Network 'AVING'
by Jane Lee (www.aving.net)

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