LG NOVA: Building New Ventures to Accomplish Mission for the Future
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By News Reporter
LG NOVA InnoFest Lights the Halo of Innovation on Bold Ideas and Businesses With
Open Conference Program, Issues a Call for Startups for the Pitch Competition
SAN FRANCISCO, July 16, 2024 — LG Electronics (LG) has opened registration for the fourth annual LG NOVA InnoFest, taking place on September 25-26, at the Palace of Fine Arts in San Francisco. Hosted by LG NOVA, LG Electronics’ North America Innovation Center, the two-day event will bring together a cross-section of business leaders, innovators and investors across various industries to collaborate on solutions for a better future. This year’s event theme, “Lighting the Halo of Innovation” was designated to inspire attendees to focus on creating change and impact through co-creation and collaboration on bold ideas and businesses.
The event brings back its annual Startup Pitch Competition, where 10 selected startups will compete to win cash prizes, an audience with executive judges and recognition on stage. In this competition, LG is looking for bold startups with great potential, working on innovative ideas that can lead to transformative change in their markets.
LG Electronics’ sister company LG Chem is co-sponsoring this year’s startup pitch competition, adding a new Life Sciences category alongside CleanTech, HealthTech, AI, Smart Life and Open Innovation. The US Business Development team is seeking next-generation technologies that align with LG Chem’s sustainability mission and will sponsor a new “Innovation for Impact Award.”
For more details on each category, visit
link hidden, please login to view. Interested startups can submit their companies for consideration at . In addition to the monetary prizes and on-stage recognition, selected startups may have the opportunity to collaborate with LG to build businesses, participate in LG NOVA-sponsored marketing activities or qualify for investments from LG and its network. According to a 2023 from Boston Consulting Group, 79 percent of companies ranked innovation among their top three priorities and more than 40 percent expect to increase spending significantly. Today, innovation is being driven by a collaborative ecosystem. This interconnected approach, involving startups, corporations, academia and venture capitalists can result in groundbreaking solutions. Innofest seeks to illustrate the capabilities of this model, bringing together startups, investors and members of the innovation community to exchange ideas, encourage, support and discuss how they can all work together to spur “innovation for a better life.”
“Today the responsibility for innovation no longer sits solely with individual companies; collaboration is critical,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation at LG Electronics and head of LG NOVA. “Through InnoFest, we are bringing together the entire innovation ecosystem, from corporations to growing startups, to discuss creative and cutting-edge ideas that have the potential to shape our future.”
Last year’s gathering brought 90 industry-leading speakers together for 28 sessions focused on topics such as women in tech; balancing growth, profitability and impact; as well as diversity in tech. The event enabled people to join in the discussions on solutions to challenges in these key areas within the innovation community.
This year, according to Rhee, “InnoFest is boldly reimagining its program to be more interactive and engaging through a non-traditional conference format, emphasizing meaningful connections and inspiring conversations.” Attendees can look forward to influential speakers and keynotes, select curated panels and more dynamic discussion-based sessions.
“At LG, we believe in the power of optimism and innovation to change the world,” said Rhee, who invited startups to join LG at InnoFest 2024, “as we strive to create a brighter future together.”
Registration for InnoFest is now open at . Interested in speaking or moderating at the event? Learn more at .
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By News Reporter
Company Expands Smart Factory Business
Based on AI Technology and Automation Solutions
SEOUL, Mar. 13, 2024 — LG Electronics (LG) is expanding its B2B business area and making significant strides into the global smart factory market by capitalizing on its expertise in constructing and operating intelligent autonomous factories.
Earlier this year, LG established the Smart Factory Business Division within its Production engineering Research Institute (PRI) and initiated the commercialization of its intangible assets, including smart factory construction technology and operational solutions. These innovations will be highlighted at MODEX 2024, the premier supply chain experience trade show, held in Atlanta, Georgia, USA.
LG’s smart factory business not only delivers production automation solutions but also incorporates AI-driven production planning, operations and the Digital Twin solution. The company aims to enhance customers’ manufacturing competitiveness by offering optimal solutions across all stages, from factory planning and design to construction and operation. Additionally, continuous improvement consulting services for factory upgrades will be available.
Aligned with LG’s vision of achieving a revenue of KRW 100 trillion by 2030, with the B2B sector targeting revenue exceeding KRW 40 trillion, the smart factory business serves as a cornerstone for LG’s B2B expansion. This endeavor is part of LG’s strategic focus on three key areas for future growth: accelerating non-hardware business models, expanding B2B businesses and developing new business domains.
Experienced in various aspects of the smart factory business, LG boasts extensive manufacturing expertise across diverse sectors such as home appliances, air solutions, TVs, vehicle components and robotics. What’s more, the company provides cutting-edge equipment and communication technologies, including big data-enabled integrated monitoring systems and predictive quality evaluation systems.
In addition to its manufacturing prowess, LG has secured essential digital technologies for building automated processes, including AI, big data and the Internet of Things (IoT). The company has also developed an intelligent production system where deep learning-enabled robots execute tasks guided by the company’s Digital Twin solution. This solution simulates actual machinery, equipment and logistics systems in a virtual environment, facilitating smooth integration and optimization of manufacturing processes.
These accomplishments have earned LG recognition for possessing world-class smart factory technology, encompassing hardware, software and automation solutions. Notably, the LG Smart Park in Changwon and the Tennessee factory in the USA were selected as Lighthouse Factories by the World Economic Forum.
With these capabilities, LG strengthens collaboration with various partners to expand the smart factory ecosystem. Following the signing of an MOU with LS ELECTRIC for the “Establishment of Smart Factory Business Cooperation System and Mutual Benefit Enhancement,” LG is forming unions with numerous global partners to advance smart factory technology through cloud and data analysis.
“In light of LG’s robust portfolio of smart factory solutions, we are committed to partnering with customers throughout their manufacturing journey by delivering optimal solutions across all stages, from planning and design to construction and operation,” stated Song Shi-yong, head of LG Electronics’ Smart Factory Business Division. He further elaborated on plans to introduce a Total Factory Offering System, which will provide a comprehensive solution in collaboration with LG and its global partners.
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By News Reporter
SANTA CLARA, Calif., Jan. 2, 2024 –
link hidden, please login to view, LG Electronics’ North America Center for Innovation, will feature a range of startups from its “Mission For the Future” program in its Eureka Park showcase at CES 2024, one of the largest tech event in the world. The showcase, taking place January 9-12 in Las Vegas, will be a unique exhibition of companies working with LG NOVA to help “build a brighter tomorrow together.” The exhibiting startups vary from digital health and future tech to cleantech and the smart life, mirroring LG NOVA’s focal areas for building new ventures to create a positive impact on people and the planet. Visiting attendees will be able to experience interactive product demos and learn about the companies’ mission-driven approach to innovating for a better life.
“LG NOVA is committed to building a brighter future by supporting innovative companies working to do good,” said Sokwoo Rhee, Head of LG NOVA and Executive Vice President of Innovation at LG Electronics. “Our exhibit at CES showcases our collaboration with startups and those across the innovation industry to create and build new businesses for the future. We invite all interested in joining our mission to transform the future to visit us at CES to learn more about how they can work with LG.”
Companies participating in LG NOVA’s showcase include:
– Integrates immersive XR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their homes. – A sensor-based technology platform that can use a camera in patient-owned devices to virtually capture health and biological readings to assist doctors in enhancing medical diagnosis and treatment effectiveness. – Health tech company on a mission to innovate AI-powered software for the early detection and monitoring of retinal and neurological conditions. – A startup that recycles plastic waste into furniture and also water, fire and heat resistant bricks used to build low cost houses and to address homelessness housing deficit. – An AI software platform with emotional intelligence technology that enables more human-like interactions and improved personalization. – AI-based avatar creation and chatbot linkage solution used in various industries. – Leverages the power of augmented reality and AI to create a personal expert for everyone. – Where play meets potential through AI-driven immersive edutainment platform and robotics to transform childhood learning. – Provides greater digital accessibility to people with disabilities. Its Key-X, a multifunctional Smart Keyboard enables people with motor limitations to fully control a computer and other digital devices. LG NOVA collaborates with startups and partners to build innovative ventures that have a positive impact on people and the planet. Through its Mission for the Future and Commercial Acceleration Programs, LG NOVA drives the growth of innovative ideas across the ecosystem to create transformational positive change in the world. LG NOVA is now accepting applications for its program. Companies interested in learning more can go to .
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By News Reporter
LG Electronics North American Innovation Center Explores New Ideas to
Accelerate for Innovation Program With Cohort Led by Digital Health
LAS VEGAS, Jan. 5, 2023 — The LG Electronics North American Innovation Center – LG NOVA – has announced its new selection of companies in the
link hidden, please login to view for innovative concepts and transformative solutions that create a positive impact on people and the planet. Selected from 2,170 submissions, these companies are joining the LG NOVA program to explore joint business creation with LG NOVA. A subset of these companies will be presented at the LG NOVA lounge in Eureka Park during CES® 2023 to visually showcase a vision of the future built with solutions centered on improving the quality of life for all. This year, LG received 752 applications focusing on digital health – lending confidence to a promising future in health and wellness technologies.
“With 800 more submissions than our first search, we at LG NOVA are honored and inspired by the dedication of so many – through their innovative ideas and business concepts – to making a positive impact on the world, true to the goal of our Mission for the Future program,” said Dr. Sokwoo Rhee, LG Electronics Senior Vice President of Innovation and head of LG NOVA. “This new selection of companies and our growing LG NOVA universe demonstrate that there are solutions on the horizon with the goal of making the world a better place. We’re looking forward to working with these companies to accelerate their ideas to the broader market.”
Attendees of Eureka Park at CES 2023 will get an inside look into LG NOVA’s unique model of innovation through outside-in collaboration, and learn about companies spanning LG NOVA’s focus tracks, including Digital Health, Display Solutions, Environmental-Social-Governance (ESG) & Electric Mobility, Metaverse & Gaming, Smart Lifestyle and Open Innovation.
LG NOVA Mission for the Future 2022 companies are:
Digital Health
– a digital health benefits management platform that seeks to make healthcare simpler. – a mobile app that delivers clinically tested personalized sound therapies designed to maintain and restore hearing and provide relief from tinnitus. – a global digital therapeutic health company leveraging AI and its virtual care platform to prevent, treat and reverse chronic conditions, starting with pre- and Type 2 diabetes and digestive health, while optimizing the physical and mental well-being of its patients. – an innovative digital program that delivers unlimited, live human coaching to your entire organization, reducing the cost of chronic conditions, increasing employee engagement and happiness and is 100 percent covered by insurance. – an integrated Virtual Care Management Platform using remote patient monitoring, chronic care management, AI-guided care coordination and more, that helps to manage chronic conditions remotely. – a virtual-first cardiology provider, delivering a range of clinical services, including same-day diagnostic reads, televisits and heart care programs for patients with atrial fibrillation, vascular diseases and heart failure. – scaling access to medical obesity care with full-service chronic disease management services using tech-enabled tools, including virtual care platforms that incorporate telehealth, clinical decision support, remote patient monitoring, online education tools and medical treatment approaches. – a leading online psychiatry practice specializing in women’s mental health. – a metabolic health company building the future of eating for wellness, longevity and weight loss for the middle aged. – using vital signs automation and patient engagement in HD to transform the patient intake experience. – provides healthcare practitioners and patients real-time solutions on how to screen, triage, track and manage skin cancers, skin diseases and skin wounds through artificial intelligence, data and automation. – develops digital therapeutics that combine AI, clinically-proven techniques and a mental health ally called Woebot to deliver mental health solutions that engage at scale and fit right into people’s lives. Display Solutions
– an innovative company in thin film electronics developing the next generation of high-performance integrated circuits for consumer and commercial electronics. – creates professional holographic display technology for natural 3D visual experiences. – a company specializing in the development of interactive technology solutions, including a mixed reality display which allows interaction with surroundings and provides no-code solutions to make interactive contents for display screens. – a smart photo booth utilizing data capture and AR for engagement and distribution. – transforms glass facades into transparent video screens on which the content doubles as glare and climate control, combining immersive entertainment with sustainability and profitability. ESG & Electric Mobility
– a sustainable thermal engineering company focused on re-engineering sustainable cooling. – a software, IoT and services platform designed to make it easy and cost-effective to deploy decarbonization improvements to mass-market commercial and industrial customers. – a reliability management platform for EV charging stations. – a business-to-business software-as-a-service that tackles energy resources and waste at a household level. – a technology platform making meaningful climate action a part of every business by providing carbon credit buyers with access to carefully vetted climate action projects. – a company focused on developing wind energy 2.0 through its energy drone that unlocks untapped wind resources at higher altitudes on-shore and in deeper waters off-shore. Metaverse & Gaming
– a solution that enables Web3 ready, bi-directional broadcasting bridging physical and virtual environments, from websites to digital out-of-home experiences (DooH) to the metaverse. – a no-code XR authoring platform for the metaverse. – leverages the power of augmented reality and AI to create a personal expert for everyone. – a cloud streaming platform which enables enterprise use cases on XR devices like the Meta Quest for industries like telecoms, manufacturing, automotive and architecture. – accelerating the adoption of the premium metaverse by creating high-fidelity 3D worlds and immersive experiences that excite, engage and preserve culture. – makes using virtual and augmented reality as easy to use as a smartphone. – a spatial computing platform to power talent development and skills mobility for the future of work. Smart Lifestyles
– patented, connected entertainment technology that allows virtually every app and device to connect to media at the push of a button. – a smart kitchen appliance that automatically introduces ingredients separately during cooking, while also stirring and controlling the temperature, just like a chef. – a software company that has developed emotional intelligence technology for digital assistants that enables more human-like interactions and improved personalization. (Li Creative Technologies, Inc.) – creates vivid, exciting and directional 3D audio solutions enabled by AI and VR. – develops a fully autonomous and accessible delivery robot, providing scalable solutions for first mile, curbside and last mile deliveries for airport, retail and restaurant industries. – an immersive and interactive edutainment platform utilizing AI, robotics and the metaverse. Open Innovation
– embedded, digital-by-design, minimalist and wearable biosensors with the goal of sensing targeted molecules anywhere with a simple smartphone. – a venture-based company that uses AI and advanced robotics for automated experimentation to facilitate and accelerate materials discovery. – a software-as-a-service venture that provides “AI Guards” to security companies for crime prevention. The selected companies may have the opportunity to explore the development of joint solutions with LG NOVA, that deliver a better life for people and a better future for our planet. Following the exploratory phase, companies may be chosen for a pilot program or to develop the product or concept with LG NOVA and participating businesses within LG. Some may qualify for potential investments from LG Electronics, LG Display and other LG NOVA affiliates; and co-collaboration opportunities that may develop into multi-million-dollar engagements as new businesses within LG’s global innovation portfolio.
For more information on the Mission for the Future and LG NOVA, please visit .
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By News Reporter
Fueled by its unwavering commitment to putting a warm smile on the faces of people from all walks of life, LG is constantly innovating to reimagine and reshape their future so that they can live better through an inclusive society and flourishing environment.
To inspire and collaborate with the like-minded innovators responding to the world’s most imminent challenges with their novel ideas, in September, LG opened up applications for its first-ever LIFE’S GOOD AWARD.
True to its name, this challenge solicited innovative solutions aligning with LG’s goal of creating a Better Life for All in two areas: Innovation for the Planet, which targets solutions that help preserve and repair the environment, and Innovation for People, solutions that prioritize safety, usability and accessibility for users of varying abilities and disabilities.
This initiative was the perfect opportunity to build on LG’s philosophy of open innovation, as it brought together over 334 creative minds from 61 countries of the globe to share their potentially world-changing ideas. With entrants competing against a one-in-a-hundred chance, this challenge showed just how many brilliant minds resonate with LG’s vision for a sustainable world, no matter where they hail from.
The successful culmination of the link hidden, please login to view applications shines a bright light on the new direction LG is headed to adopt more sustainable business practices. The company is now turning its attention to widening the platform of opportunities and resources to invite people from all backgrounds to join its virtuous cycle of positive impact.
Adding even more expertise and fairness to the award is B Lab Korea, a non-profit with ample know-how in measuring and certifying a business’s social impact, which in partnership with LG has been tasked with evaluating applications based on their impact, innovation and feasibility – LG’s own criteria for innovations for a better life.
For the fairest, most knowledgeable evaluation process, LG enlisted the help of respected academics across various industries to join its executives on the judging panel, dubbed the Life’s Good Committee. This diverse talent pool of budding innovators, entrepreneurs, business professionals and renowned scholars perfectly demonstrates how society can come together as one to pave a better future for the people and their planet.
The grand finale will be held in January, with the three finalists set to be announced at CES® 2023 and final pitches to be made in the following weeks. Although the end is in sight for the inaugural innovation challenge, LG’s collective journey towards a Better Life for All will continue for many years. With a commitment to ensuring Life’s Good in everything it does, LG continues to foster new possibilities for society and the planet.
To keep up to date with the latest news, stay tuned to the .
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