{"id":27623,"date":"2021-09-06T09:30:00","date_gmt":"2021-09-06T06:30:00","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=27623"},"modified":"2026-03-27T23:10:06","modified_gmt":"2026-03-27T20:10:06","slug":"lg-announces-global-startup-competition-to-recruit-new-businesses-for-innovation-center","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/lg-announces-global-startup-competition-to-recruit-new-businesses-for-innovation-center\/","title":{"rendered":"LG ANNOUNCES GLOBAL STARTUP COMPETITION TO RECRUIT NEW BUSINESSES FOR INNOVATION CENTER"},"content":{"rendered":"\n<p class=\"has-text-align-center wp-block-paragraph\"><em>\u2018Mission for the Future\u2019 Challenge Seeks Innovations that Improve Quality of Life<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Jeddah, Saudi Arabia\u00a0\u00a0Sept. 5, 2021<\/strong>\u00a0\u2014\u00a0LG Electronics (LG) announces the launch of\u00a0<em>Mission for the Future,<\/em>\u00a0a global challenge competition for startups to identify innovative technologies and business ideas that pave the way to the future. This inaugural competition is hosted by the company\u2019s new Silicon Valley-based innovation center,\u00a0<a href=\"https:\/\/www.lgnewsroom.com\/2021\/08\/lg-electronics-launches-innovation-center-to-accelerate-new-business-creation\/\" target=\"_blank\" rel=\"noreferrer noopener\">LG NOVA<\/a>, a strategic team within LG working with startups and the entrepreneur communities to build new businesses and bring even more innovation from the outside into LG.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The mission<\/em> for the Future\u00a0is a nine-month annual challenge program created to seek the best ideas, concepts, and businesses that will improve quality of life in a greener, smarter, healthier, more connected future. Selected challenge entrants will begin working with the LG NOVA team on their business proposals within three to six months, leading up to the finalist selection process starting in March 2022.\u00a0\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finalists of the challenge competition will get the opportunity to work with the LG NOVA team based in California to accelerate their growth and take their business to the next stage, potentially launching a new business with LG. The company intends to set aside up to USD 20 million to support finalists with investments, resources, funding for concept development, and access to LG\u2019s global infrastructure and supply chain to build joint businesses with LG.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Throughout the process, outstanding challenge participants with unique business ideas will have the opportunity to engage with LG and its partners and access corporate resources, mentorship, and pilot programs to continue to grow their business.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 2021-22 competition will spotlight innovations for technologically advanced lifestyles for the good of people, communities, and the planet across five\u00a0focus tracks:\u00a0\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"734\" height=\"1024\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED-734x1024.webp\" alt=\"LG NOVA Mission for the Future 01 UPDATED\" class=\"wp-image-27624\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED-734x1024.webp 734w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED-215x300.webp 215w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED-768x1072.webp 768w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED-1100x1536.webp 1100w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED-1080x1508.webp 1080w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/09\/LG-NOVA-Mission-for-the-Future-01-UPDATED.webp 1200w\" sizes=\"(max-width: 734px) 100vw, 734px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li><em>Connected Health<\/em>: Inventive approaches, access and devices to provide people with more control over their healthcare anytime and anywhere, thereby increasing the health and wellness of our population;<\/li><li><em>Energizing Mobility<\/em>: New services, solutions and business ideas that will help scale the electric mobility infrastructure and catapult the use of electric power for vehicle and transportation forward;<\/li><li><em>Smart Lifestyles<\/em>: Content, services, applications and technology that can be deployed in the connected home space, potentially leveraging LG\u2019s ThinQ-tm platform to streamline and improve how we live our daily lives;<\/li><li><em>The Metaverse<\/em>: Innovations that will help build the next digital world and internet enabled by gaming, VR, AR and XR technologies, blockchain, digital avatars and more; and&nbsp;<\/li><li><em>Innovation for Impact<\/em>: An open track for breakthrough or adjacent innovations aligned with LG\u2019s philosophy of&nbsp;<em>innovation for a better life<\/em>&nbsp;that create positive impact on people, communities and the planet.&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe\u00a0<em>Mission for the Future<\/em>\u00a0challenge serves as LG NOVA\u2019s first step towards outside-in innovation for LG, as it collaborates with innovators and startups all around the world to grow ideas and build businesses together,\u201d said Dr. Sokwoo Rhee, senior vice president for innovation at LG Electronics and head of LG NOVA. \u201cSimply put, LG wants to create positive societal impact, and we believe that diverse perspectives can lead to better innovations for the broader global community. This means technologies for sustainable living, eco-friendly products, and an inclusive society overall. We will innovate to save lives, save the earth and create a better life for all.\u201d\u00a0\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>How It Works: Mission for the Future Review and Selection Process&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Applications for\u00a0<em>Mission for the Future<\/em>\u00a0will be accepted from September 1 to October 25, 2021, at\u00a0<a href=\"https:\/\/missionforthefuture.lgnova.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">missionforthefuture.lgnova.com<\/a>, and winners will be named in June 2022. Ultimately, up to 10 companies will earn the finalist distinction and get the opportunity to build their business in collaboration with LG.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Startup evaluations for the \u201cFirst 50\u201d will take place between October 25 to December 31, 2021, in which up to 50 companies will be provided access to resources to help grow a joint business, including essential business infrastructure, networking with global tech leaders, mentorship and collaboration opportunities. This group will also get connected to LG\u2019s network of corporate partners, VCs, pilot programs, and other influential organizations to pursue additional business opportunities.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The LG NOVA team will continue the engagement process with the \u201cFirst 50\u201d startups from January to March 2022 with the intent to announce the \u201cSelected 20\u201d at the end of March 2022. This group will be provided with opportunities for access to capital investments, LG\u2019s global infrastructure, and other business resources based on the joint business growth strategy and need.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The LG NOVA team will then select the \u201cTop 10\u201d<strong>&nbsp;<\/strong>challenge winners at the end of June 2022 who will have the opportunity to build their business in collaboration with LG and be supported by the company\u2019s global organization.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Learn more about how\u00a0LG NOVA\u00a0is fueling innovation for a better future at\u00a0<a href=\"http:\/\/www.lgnova.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.lgnova.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2018Mission for the Future\u2019 Challenge Seeks Innovations that Improve Quality of Life Jeddah, Saudi Arabia\u00a0\u00a0Sept. 5, 2021\u00a0\u2014\u00a0LG Electronics (LG) announces the launch of\u00a0Mission for the Future,\u00a0a global challenge competition for startups to identify innovative technologies and business ideas that pave the way to the future. This inaugural competition is hosted by the company\u2019s new Silicon [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":27625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":19,"_extra_hide_author_box":"","_extra_featured_post":"0","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-27623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LG startup competition - Global challenge | Saudi Shopper<\/title>\n<meta name=\"description\" content=\"LG startup competition launches \u201cMission for the Future\u201d to recruit innovators improving quality of life. 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