LG Electronics has formed LG NOVA, its new Silicon Valley-based innovation center, tasked with creating a collaborative ecosystem to accelerate the growth of new ideas that embody LG’s innovation for better life philosophy.
Powered by the LG brand and resources, LG NOVA will partner with startup and entrepreneur communities to scale up ideas and concepts to its next stage of development, working with them to build new businesses.
LG NOVA will engage with innovators in North America and around the world who are creating accessible, socially impactful solutions that push the envelope of the technologically advanced lifestyle.
The innovation center is focused on catalyzing solutions that improve accessibility, mobility, usability and connectivity – for home, work, school and life, as well as ideas and approaches for carbon reduction and renewable energy.
“Innovation can be sparked in many ways, and the best innovations happen through collaboration,” said Dr.Sokwoo Rhee, corporate senior vice president for innovation at LG Electronics and head of LG NOVA. “That’s why we created this philosophy of outside-in innovation, and that’s the guiding principle behind LG NOVA.”
William Cho, global chief strategy officer for LG Electronics, added, “LG has had a longstanding commitment to innovation for a better life, and LG NOVA is a testament to how we will help fuel and promote new ideas to build a better future and ultimately, better quality of life for all.”
The LG NOVA ecosystem serves as the median network to connect fresh ideas from startups to businesses. What’s more, its community focus helps foster cross-pollination of innovative thinking and conversations that can result in corporate collaborations, joint ventures and business initiatives between small and medium-sized businesses and enterprises.
With a world-class team of experienced leaders, industry veterans, former White House Presidential Innovation Fellows, entrepreneurs-in-residences, and leading challenge and innovation program executives, LG NOVA offers startups and innovators opportunities for mentorship and resources to help them achieve optimal growth.
LG NOVA’s innovation-growth approach combines strategic partnerships, incubation, investment and industry collaborations to create a strong network to support founders, startups and entrepreneurs.