SANTA CLARA, Calif., Oct. 20, 2021 /PRNewswire/ -- LG Electronics has named the winners of the LG NOVA Proto Challenge, the preliminary startup competition that sets the stage for LG NOVA's global challenge program – Mission for the Future. The Proto Challenge was a short submission and pitch competition designed to give LG's North American innovation center a way to quickly engage the startup and entrepreneur community prior to the official launch of its global challenge competition.
The eight winners and four runner-up companies of the LG NOVA Proto Challenge were selected based on their proposed solutions for a better life in the areas of connected health, energizing mobility, smart lifestyle, the metaverse and innovation for impact. These are key market areas that LG NOVA is addressing in its 2021-22 Mission for the Future global startup challenge program.
As a part of the rewards, the winners and runners-up have been invited to join the "First 50" businesses selected in the global challenge program – creating the first cohort of companies that LG NOVA will work with to build for the future. If they opt to join the program, the companies will work with LG NOVA's incubation team to refine their business and engagement ideas and potentially unlock resources and funding for proof-of-concept development. In addition, there will be networking and marketing opportunities to share their business proposal with global tech leaders from LG and its corporate partners. Proto Challenge winners also each received a $10,000 prize.
LG NOVA is currently taking applications for the Mission for the Future Challenge at www.missionforthefuture.lgnova.com. LG NOVA intends to provide up to $20 million in funding and resources to support joint business creation with the top 10 chosen businesses from the challenge. Deadline to submit is Oct. 25, 2021, at 11:59 p.m. PT. Following the application submission process, LG NOVA will be hosting a virtual event series: Mission Launch on November 15 – 19, 2021. All applicants are invited to join LG NOVA and experts across the industry to discuss the key topic areas that will impact our future. Register for the event at missionlaunch.lgnova.com.
"The LG NOVA Proto Challenge was designed to discover startups and entrepreneurs with new ideas and technology to create and grow new innovation with LG that offers real impact on society," said Dr. Sokwoo Rhee, senior vice president for innovation at LG Electronics and head of LG NOVA. "The Proto Challenge and its winners are unique, because we selected the best companies to work with to accelerate the development of innovative ideas for a better future across sustainability, accessibility and mobility."
LG NOVA Proto Challenge winners were selected based on the following criteria: a clear vision to growing business with LG, a convincing pathway to commercialization, and the uniqueness of the proposed solution or product.
- Quiqmeds – A SaaS platform providing an alternate solution to retail pharmacies that use dispensing units for prescription fulfillment in physicians' offices at the point of care. The solution puts the prescribed drug in the hands of the patient within minutes when they are still at the doctor's office.
- XRHealth – XRHealth operates state-of-the-art Virtual Clinics, utilizing proprietary FDA registered medical virtual reality (VR/AR) applications. XRHealth integrates immersive VR/AR technology, licensed clinicians and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home. The company focuses on three main therapeutic areas: pain management, neurological disorders, and behavioral health.
- MayaMD – (Runner-up) MayaMD develops and sells engaging artificial intelligence (AI) platforms that improve healthcare. Maya's solutions quickly gather a user's symptoms, past medical history, and/or laboratory results, and convert this data into a list of potential diagnoses and follow-up care suggestions. By enhancing communication between patients and clinicians, the tools create an opportunity for better health outcomes.
- Driivz – An end-to-end EV charging management platform offering operations management, energy management, user management, public and workplace and EV fleet charging management, as well as various advanced billing capabilities and EV driver applications.
- Resilient Power – EV charging stations that reduce the grid upgrades, size, permitting, and installation labor by 90 percent.
- SparkCharge – One of the world's first mobile and intelligent on-demand EV charging network.
- Cooklist – Digital grocery shopping and cooking assistant that tracks grocery store purchases to provide cooking recommendations based on inventory data and diet accommodations.
- EveryKey – Military-grade smart key that wirelessly unlocks your devices and online accounts when you're nearby, then locks everything down when you walk away.
- Chefling – (Runner-up) The first AI-powered kitchen assistant providing a single platform to connect all your kitchen and cooking needs in today's smart home.
- IQ3Connect – (Runner-up) A web-based VR/AR platform for rapidly delivering scalable remote collaboration and training solutions.
- i3m.tv – (Runner-up) Lets people connect, communicate, and experience together in lifelike, immersive, and interactive environments optimized for 3D and VR. The platform is updated with new experiences and features weekly. I3M.tv is backed by multinational investors and is poised to expand across multiple verticals such as entertainment, virtual travel, hospitality, and more.
Innovation for Impact:
- A.KIN – Women-led company that uses AI avatars and robots to help users run their homes, specifically providing support for people living with disabilities and caregivers.
"Through the Proto Challenge, we've identified businesses that are meeting the challenge of building for the future," said Limor Schafman, director of strategy and operations at LG NOVA. "We congratulate these entrepreneurs on their selection as a Proto Challenge Winner and Runner-ups. We are eager to see their progress and impact as they continue to grow their business," she said.
The Proto Challenge competition was powered by TechConnect Ventures, Plug and Play Tech Center and gener8tor.
To learn more about the LG NOVA Proto Challenge winners, visit www.lgnova.com/proto-challenge-winners
About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center's mission is to build, nurture and grow innovations that impact the future. Learn more about LG NOVA at www.lgnova.com.
About LG Electronics
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 75,000. LG's four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global sales of over $56 billion in 2020. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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SOURCE LG Electronics USA