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LG selects 9 startups for future growth engine

All News 11:01 September 13, 2022

SEOUL, Sept. 13 (Yonhap) -- LG Electronics Inc. said Tuesday it has chosen nine startups that could lead the tech company's future growth in digital health, metaverse and electric mobility.

LG's San Francisco-based North American Innovation Center wrapped up its two-day Fall Innovation Festival last week, where it announced nine most-promising startups in the three sectors, with entrepreneurs, investors and influencers in attendance.

The nine winners for the Mission for the Future program were chosen from approximately 1,300 startups from all around the world.

LG said it plans to invest a maximum of US$20 million in total to realize the ideas of the nine winners and grow their businesses.

Among the winners, XRHealth provides a remote medical service in virtual treatment rooms based on immersive virtual and augmented reality. Mindset Medical offers a platform where a patient uses a camera to send health and biological information and readings to doctors for more accurate medical diagnosis and effective treatment.

Driivz runs a software that enables major electric vehicle (EV) providers to offer an end-to-end EV charging and smart energy management platform.

LG said iQ3 Connect is a 3D workspace solutions provider that allows users to work in a cost-effective manner and collaborate and train together with others without restraints on venues.

The South Korean tech company launched the innovation center in August last year to create a collaborative ecosystem to accelerate the growth of new ideas and scale them up to the next stage of development based on the belief that "innovations happen through collaboration."

This photo provided by LG Electronics Inc. shows its two-day Fall Innovation Festival held at The Craneway Pavilion in San Francisco from Sept. 7-8, 2022. (PHOTO NOT FOR SALE) (Yonhap)

jaeyeon.woo@yna.co.kr
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