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Sep 07, 2022, 19:00 ET
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Chosen ‘Mission for the Future’ Companies and LG to Jointly Pursue Innovative Solutions for Digital Health, the Metaverse and Electric Mobility
SAN FRANCISCO, Sept. 7, 2022 /PRNewswire/ — The LG Electronics North American Innovation Center, LG NOVA, has selected the Finalist companies for its Mission for the Future global challenge program. Representing multiple potential business paths in three industries, the companies will be working with the LG NOVA team to collaborate on new business ventures, alongside continuing to grow and scale their companies, qualifying for potential investment from LG and other investors within LG NOVA ecosystem to develop impactful solutions for people, communities and the planet.*
“This inaugural year of our challenge demonstrated how effective and powerful collaboration between technology startups and established corporations can help accelerate the innovation process,” said LG Electronics Senior Vice President of Innovation Dr. Sokwoo Rhee and head of LG NOVA. “Congratulations to the Finalists and all the companies that participated in the Mission for the Future challenge. We look forward to the journey with these companies innovating for a brighter, more technologically advanced future.”
The finalists were selected from an initial pool of approximately 1,300 applicants. They secured the top spot after working closely with the LG NOVA Entrepreneur-In-Residence team over a six- to nine-month period to build and test the proposals. Throughout the process, the companies had opportunities to meet with LG business teams and other investors within the LG NOVA ecosystem. Finalists were presented to LG Electronics Global CEO William Cho.
This unique challenge program, which has the opportunity to diversify and expand LG’s technology portfolio, prioritizes innovating for a better life across key impact industries, according to Rhee. “These incredible companies hold the potential of changing the world, and LG looks forward to collaborating with them to leverage innovation to impact society in meaningful ways,” he said.
With this selection of companies, LG NOVA will build new businesses in Digital Health, Electric Mobility and the Metaverse and pursue multiple paths to deliver new services and solutions that will help us move forward faster into the future.
Digital Health – With digital health capabilities key to enabling the delivery of healthcare to diverse and disparate communities, LG NOVA is working to expand and scale greater access to healthcare and personal health services.
Electric Mobility – With LG’s commitment to sustainability as an organization, LG NOVA is working to pursue new opportunities to expand access to electric vehicle (EV) and electric mobility solutions by enabling more businesses to leverage their infrastructure to provide EV services.
The Metaverse – The Metaverse will bring greater capabilities that will change how we engage across the digital space in the future. LG is looking to broaden its role and explore new services and applications for enterprises that leverage the capabilities of the Metaverse.
LG NOVA’s second annual Mission for The Future (2022) is now open for submissions. Deadline to submit is Thursday, Oct. 6, 2022. Please visit www.lgnova.com/mission22 for more information on how to submit new ideas to LG NOVA.
*Subject to due diligence and other considerations.
About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to build, nurture and grow innovations that impact the future. Learn more about LG NOVA at www.lgnova.com.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is 2022 ENERGY STAR® Partner of the Year-Sustained Excellence. The company’s commitment to environmental sustainability and its “Life’s Good” marketing theme encompass how LG is dedicated to people’s happiness by exceeding expectations today and tomorrow. www.LG.com.
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SOURCE LG Electronics USA
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