LG NOVA has introduced the newest iteration of its Mission for the Future program, the place it fosters collaboration between startups and the massive electronics agency.
LG NOVA is the North American Innovation Middle of LG Electronics, the South Korean electronics big.
The initiative goals to foster collaboration with entrepreneurs to create extremely impactful mission-driven companies. With a shift to a year-round course of, LG NOVA goals to deepen its engagement with chosen firms and speed up expertise improvements that drive constructive transformation on the earth.
Coming into its third yr, this system focuses on key market areas which have a constructive influence on individuals and the planet, together with digital well being, cleantech, futuretech, and the good life.
LG goals to determine new market alternatives by collaborating with modern firms, growing options, and testing them in open markets. The purpose is to speed up market progress with the assist of LG’s international model and sources.
The decision for submissions is now open, inviting startups, firms, and entrepreneurs to submit their concepts for collaboration with LG. Chosen firms may have the chance to take part in a multi-month Company Accelerator Program, working intently with the LG NOVA workforce to speed up enterprise progress.
Moreover, they are going to obtain suggestions for investments by means of LG NOVA’s capital companions and discover the potential of making new companies underneath the LG model and portfolio. Research have proven that companies nurtured in a enterprise incubator have a considerably increased survival charge in comparison with startups with out assist.
“Over the previous two years, we’ve constructed a terrific neighborhood of innovators, established a powerful community of capital companions and made new strides in collaborating with firms outdoors of LG to construct new companies,” Sokwoo Rhee, LG Electronics senior vice chairman of innovation and head of LG NOVA, mentioned in a press release. “On this third yr, we’ve created a brand new course of that may allow us to be extra agile at addressing altering market wants and launching options that tackle real-world issues to drive transformational change for a greater tomorrow.”
As a part of its efforts to advertise innovation and collaboration, the Mission for the Future initiative will develop its scope by facilitating concept sharing and collaboration with the broader innovation neighborhood. This consists of discussions and networking alternatives on the LG NOVA Innovation Competition going down in San Francisco at this time.
LG NOVA’s program has already achieved exceptional success in fostering curiosity, innovation, and collaboration throughout industries. Final yr, this system obtained over 2,500 functions, with a major quantity targeted on digital well being, futuretech, and cleantech. Taking part firms not solely skilled accelerated enterprise progress but additionally made notable contributions to those fields.
By becoming a member of the Mission for the Future initiative, firms develop into a part of a neighborhood of innovators devoted to advancing technological options that enhance individuals’s lives. This initiative, led by LG NOVA, supplies alternatives for collaboration, discussions on key subjects, and networking with traders, company companions, and establishments to foster enterprise progress.
The decision for submissions is now open. events can study extra in regards to the alternative at this link.
Over the past two years the Mission for the Future program has obtained over 3,500 submissions from startups. Final yr, LG obtained 2,500 functions together with 756 functions specializing in digital well being, 783 functions in futuretech and 574 functions in cleantech.