SAN FRANCISCO — LG Electronics' North American Innovation Center, LG NOVA, has announced the inaugural “First 50” cohort of startups selected in its large-scale Mission for the Future global challenge competition. Chosen from a group of over 1,300 applicants, the companies represent new developments in the areas of Connected Health, Energizing Mobility, Smart Lifestyle, The Metaverse and Innovation for Impact, and will start to work with the LG NOVA team on their business concepts.
Selected by LG NOVA’s team of leading emerging technology and entrepreneurial experts, the first official “First 50” group represents innovations in industries that will have the most immediate impact on society now and in the future. Equipped with access to LG global network’s expertise, mentorship and capital, the startups will collaborate with LG NOVA’s incubation team to create a proposal for a joint business with LG and a proof-of-concept project to progress to the next phase of the competition – the selection of 20 companies that LG will fund for in-market pilot programs. As the competition progresses, LG NOVA will select a final group of up to 10 startups in an effort to launch joint business opportunities within for the LG ecosystem.
“These companies represent the top of the diverse pool of innovative ideas and companies who applied to our Mission for the Future challenge to address the challenges facing our community. In these companies, we see great potential opportunities to explore transformative changes that will take our commitment of innovating for a better life to the next phase,” said LG NOVA Head Dr. Sokwoo Rhee, senior vice president for innovation at LG Electronics. “Our work with these companies will be guided by our role as a leading global innovator of next-generation products, technologies and services as we help them accelerate their growth and deliver positive impact to the world.”
List of “First 50” companies selected in the Mission for the Future challenge can be found at LG NOVA website.