The Korean technology giant LG makes everything from televisions (they announced some new ones at CES), washing machines and refrigerators, to, well, it will probably take less time to list the things they do not interfere in. It should not come as a surprise , that the company has a solid interest in innovation, and LG Nova is its relatively new North American Innovation Center. Based in Santa Clara, Silicon Valley, California, LG’s business unit is finding new and interesting ways to work with startups to advance LG’s mission in some of its core growth areas.
At the Consumer Electronics Fair (CES) in Las Vegas, the company announced the first companies that have come on its shortlist to work with the electronics giant. Startups have a few features in common that highlight and reinforce some of the focus areas for the company’s innovation areas.
LG Nova aims to be the center of the Friend chart for the entire startup ecosystem, including startups, of course. It wants to reconcile this with LG’s own strengths and benefits, including the broader investor landscape, big tech, academia, the entrepreneurial environment and LG’s own sales and marketing channels, where relevant.
The current program that LG Nova is running is the Mission for the Future challenge, which is basically a filtering system to find the most promising entrepreneurs and startups that can work with LG’s entrepreneurs in the home to help create businesses. within the LG ecosystem. Mission for the futureLG Nova’s nine-month annual challenge program is created to seek the best ideas, concepts and companies worldwide that will improve the quality of life in a smarter, healthier, more connected future.
The first major theme for LG in this space is associated health, with a particular focus on doubling healthcare services with a focus on healthcare services to meet people’s wellness needs at healthcare facilities, in their homes or through services in this space. LG Nova announced its first two shortlisted companies such as XR Health, which offers VR treatment rooms for telehealth services, and Maya MD, which is a digital AI health assistant that utilizes LG’s televisions to encourage customers to actively talk about their health.
That metavers is the second broad category in which LG Nova pays particular attention in what appears to be a broader exploration of how humans and machines can be connected in new interaction modalities. Here, LG announced Nova iQ3, which creates enterprise applications and services for product training for metaverse, and I3M, which builds a hyper-realistic virtual travel and tourism experience.
Sustainable mobility is the third pillar in LG’s innovation drive, what the company calls Energizing mobility. SparkCharge is an interesting company that makes EV charging mobile, while maintaining sustainability. Driivz, meanwhile, is building a kind of operating system for charging electric vehicles.
The last part of LG Nova’s innovation cake chart is all about Smart lifestyle, which appears to be LG-speak for smart home technology. In this universe, they chose a universal smart-key technology, EveryKey, which is an attempt to use a single device to unlock your car, phone and doors, keeping your site’s logins safe, while A.kin AI is a company working to add virtual assistant technology to LG hardware products. It is particularly targeted at homes that have challenges coordinating home care for neuro-diverse audiences. Chefling rounds off the smart lifestyle cabal with a solution for planning, purchasing and preparing meals that follow your dietary needs.
The announced startups give you a glimpse behind the curtain for the type of thing LG Nova is looking for. The next batch opens for applications later this year, and at CES I spoke in-depth with the head of the program to learn more about what LG is looking for, how the program aims to work with startups, and to get the inner track on how to spot the incubator selection committee.