Korean tech giant LG makes everything from TVs (they announced some new ones at CES), washing machines, and refrigerators, well, it probably takes less time to list the things they’re not involved in. It comes as a surprise that the company has a strong interest in innovation, so LG Nova is a relatively new innovation hub in North America. Headquartered in Santa Clara in Silicon Valley, California, LG’s business unit is looking for new and interesting ways to work with startups to advance LG’s mission in some of its core growth areas.
At the Consumer Electronics Show (CES) in Las Vegas, the company announced the first companies it made on its shortlist to work with the electronics giant. Startups share a few traits, which highlight and enhance some of the focus areas for the company’s innovation areas.
LG Nova aims to be the center of the Venn scheme for the entire startup ecosystem, including the startups of course. It wants to combine this with LG’s own strengths and advantages, including its broader investor pool, big technology, academia, entrepreneur community and LG’s own sales and marketing channels, where applicable.
The current program run by LG Nova is Future Challenge mission, which is essentially a filtering system to find promising entrepreneurs and startups who can work with LG entrepreneurs in residence to help create businesses within the LG ecosystem. Mission for the futureLG Nova’s annual nine-month challenge program created to search for the best ideas, concepts and businesses around the world that will improve the quality of life in a smarter, healthier and more connected future.
LG’s first big topic in this space is associated health, with a particular focus on multiplying healthcare focused healthcare to meet the wellness needs of people in healthcare facilities, in their homes, or through services in the field. LG Nova has announced the first two companies on the shortlist are XR Health, which provides VR treatment rooms for telehealth services, and Maya MD, an AI-powered digital health assistant that takes advantage of LG TVs to encourage customers to have active conversations about their health.
the metaverse It is the second category that LG Nova is paying particular attention to, in what appears to be a broader exploration of how people and machines connect with new ways of interacting. Here, LG Nova announced iQ3, which builds enterprise product training apps and services for the metaverse, and I3M, which builds a hyper-realistic virtual travel and tourism experience.
Sustainable mobility is the third pillar in driving innovation for LG, according to what the company means motion activation. SparkCharge is an interesting company that charges electric vehicles while staying sustainable. Meanwhile, Driivz is building an operating system of some sort to manage electric vehicle charging.
The final part of the LG Nova innovation pie is everything smart lifestylesWhich seems to be talking about LG’s smart home technology. In this universe, they chose global smart key technology, EveryKey, which is an attempt to use a single device to unlock your car, phone and doors, and keep your website logins safe, while A.kin AI is a company working on adding virtual assistant technology for LG hardware products. It specifically targets homes facing the challenges of coordinating home care for neurodiversity audiences. Chefling surrounds the smart lifestyle gang, with a meal planning, shopping and cooking solution that tracks your nutritional requirements.
Announcing startups give you a glimpse into what kind of thing the LG Nova is looking for behind the scenes. The next batch of apps will open later this year, and at CES, I spoke in depth with the head of the program to find out more about what LG is looking for, and how the program aims to work with startups and get the inside track. About how to get the attention of the incubator selection committee.