LG DEVELOPS NEW COMMERCIAL ENTERPRISES WITH SELECTION OF FINALISTS IN FIRST ‘MISSION FOR THE FUTURE’ CHALLENGE

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The companies chosen for the “mission for the future” and LG must jointly pursue Innovative solutions for digital health, the metaverse and electric mobility

SAN FRANCISCO, September 7, 2022 /PRNewswire/ — LG Electronics’ North American innovation center, LG NOVA, has selected the Finalist businesses for its Mission for the future global challenge program. Representing multiple potential business avenues across three industries, companies will work with the LG NOVA team to collaborate on new business ventures, while continuing to grow and scale their businesses, qualifying for potential investment from LG and other investors within the 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 tech startups and established companies can help accelerate the innovation process,” said Dr. Sokwo Rhee, Senior Vice President of the innovation at LG Electronics and director of LG NOVA. “Congratulations to the Finalists and to all the companies that participated in the Mission for the future challenge. We look forward to the journey with these companies innovating for a better and more technologically advanced future.”

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 period of six to nine months to develop and test the proposals. Throughout the process, companies had the opportunity to meet LG’s business teams and other investors within the LG NOVA ecosystem. The finalists were presented to the Global CEO of LG Electronics William Cho.

This unique challenge program, which has the opportunity to diversify and expand LG’s technology portfolio, prioritizes innovation for a better life in key impact industries, according to Rhee. “These incredible companies have the potential to change the world, and LG looks forward to working with them to leverage innovation to have a meaningful impact on society,” he said.

With this selection of companies, LG NOVA will create new businesses in the fields of digital health, electric mobility and the metaverse and will pursue multiple paths to provide new services and solutions that will help us move faster in the coming.

Digital health – With essential digital health capabilities to enable the delivery of healthcare to diverse and disparate communities, LG NOVA strives to expand and expand access to healthcare and personal health services.

  • Digbi Health is a digital healthcare platform to prevent and reverse chronic metabolic, digestive and mental illnesses using gut microbiome, genetics, AI and food insights as medicine. Together, LG and Digbi will work to make care globally accessible at home and in the office, and to advance healing.
  • name of life is a B2B2C precision health platform powered by genomics and AI, delivering personalized health and wellness solutions to the world’s leading companies. LG and LifeNome plan to bring the world’s first precision maternal and family health platform to market, supporting pregnant women 24/7, from conception through the early stages of life. ‘a kid.
  • medical mindset is a sensor-based technology platform that can use a camera in patient-owned devices to virtually capture health and biological readings to help doctors improve medical diagnosis and treatment efficiency. By expanding the new services available to physicians and providers, LG’s work with Mindset Medical should make it easier for medical providers to understand patient health over time or during live virtual doctor visits.
  • XRHealth develops virtual treatment rooms, integrating immersive VR/AR technology, licensed clinicians, and real-time data analytics into a single platform, delivering a complete therapeutic care solution for patients across the continuum of care, from the hospital to the patient’s home. LG and XRHealth will continue to expand the service offering to provide more information to clinicians and enable more accurate personalized care.

Electric mobility – With LG’s commitment to sustainability as an organization, LG NOVA strives to pursue new opportunities to expand access to electric vehicles (EVs) and electric mobility solutions by enabling more businesses leverage their infrastructure to provide EV services.

  • Drivez offers leading EV service providers an end-to-end software platform for EV charging and smart energy management. LG and Driivz will work together to enable the hospitality industry through United States to offer EV charging as a service, while optimizing their EV charging operations and providing their customers with an exceptional EV charging experience.
  • I-EMS Solutions, Ltd. uses innovative AI and blockchain-based Distributed Energy Resource Management Systems (DERMS) and transactional energy software platforms to enable power optimization in smart cities, smart homes and the electric mobility. By working with I-EMS, LG will help modernize the power grid and optimize energy management to provide better power management solutions for the market.
  • SparkCharge offers electric vehicle owners an affordable and convenient way to charge their electric vehicles without a direct access charger at home or on the road. LG and SparkCharge plan to work together to provide turnkey EV solutions for businesses to create a revenue stream from their parking spaces.

The Metaverse – The metaverse will bring greater capabilities that will change how we engage in the digital space in the future. LG is looking to expand its role and explore new services and apps for businesses that leverage the capabilities of the Metaverse.

  • iQ3 connection provides immersive 3D workspace technology to enable distributed teams to cost-effectively work, collaborate and train from anywhere, on any AR, VR or 2D device. LG will work with iQ3 Connect to deploy immersive training and real-time collaborative workspace solutions for businesses.
  • NeuroTrainer is a brain training and optimization platform deployed in virtual reality to create immersive environments and training protocols that use the scientific principles of neuroplasticity to improve concentration and cognitive performance. By expanding the capabilities of iQ3, LG and NeuroTrainer will work together to add platform capabilities and enhancements designed to further refine NeuroTrainer as a powerful tool for enterprise mental wellness and resilience.

LG NOVA second annual Mission for the future (2022) is now open for submissions. The deadline to submit is Thursday, October 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 outside LG. LG NOVA is based in Santa Clara, California. The center’s mission is to build, nurture and develop innovations that impact the future. Learn more about LG NOVA at www.lgnova.com.

About LG Electronics UNITED STATES
LG Electronics USA, Inc., based in Englewood cliffs, NOT.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global technology and manufacturing innovator. In the United States, LG sells a wide range of innovative household 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 encompasses how LG is dedicated to making people happy by exceeding expectations today and tomorrow. www.lg.com.

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SOURCE LG Electronics UNITED STATES

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