LG Electronics announced the launch of the LG Nova Partner Alliance Program, a platform that brings together corporate partners and startups.
It will bring companies together for cross-industry collaborations, technology and business development, and commercial partnerships to catalyze the growth of innovations for the future.
Spearheaded by LG Nova, LG Electronics’ North America Innovation Center, the program extends the success of LG Nova’s mission to co-create new ventures with startups to its corporate partners with the goal to encourage exponential growth of new innovations in the market by creating more pathways for innovative ideas to flourish at a greater rate.
Joining the Partner Alliance Program at launch are Fujitsu Research of America, Mayo Clinic Innovation Exchange, Niantic Labs and the West Virginia Department of Economic Development.
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These organizations have all signed on to work with LG NOVA and its extensive startup ecosystem to generate and explore new concepts; develop, test, and validate those concepts; and collaborate on innovative product solutions or even co-create new businesses. Additional partners will be added to the Partner Alliance Program in the coming months.
“The new Partner Alliance Program aligns with our core mission to collaborate and create an ecosystem for startups to thrive and ensure that the innovations today become the market-leading solutions of tomorrow,” said Sokwoo Rhee, corporate executive vice president for innovation at LG Electronics and head of LG Nova, in a statement.
Kevin Chong, LG Nova’s head of business and corporate development, said in a statement, “This program is a win-win for all parties, including LG, as we continue to explore new ideas for business co-creation. The growth of new ideas and cross-industry collaboration will help the markets move forward faster towards a better future that benefits all of us, businesses, people and the planet.”
In bringing on corporate partners to its program, LG Nova is helping to create more opportunities for startups to find quintessential industry partners that will help it reach commercial success at a larger level, Chong explained. For the corporate partners, finding innovative startups to work with will help them address new market opportunities, extend their businesses into new areas and better address the changing needs of their customers.
The Partner Alliance Program will leverage the resources of LG Electronics existing business units while also tapping into the pipeline of startups and resources available through the LG Nova’s Mission for the Future initiative – a broad umbrella of programs designed around engaging with the entire innovation ecosystem to explore ideas on creating a better future through collaboration and tech innovations.
LG NOVA and the newly announced partners in the Partner Alliance program plan to share more about their goals and vision for this program at the 2024 LG Nova InnoFest, September 25 to September 26, at the Palace of Fine Arts in San Francisco.
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