LG Energy Solution Secures Leadership by Discovering Promising Battery Startups

'LGES Battery Challenge 2022' Held
Up to 10 Companies Selected... Collaboration Opportunities Provided

[Asia Economy Reporter Oh Hyung-gil] LG Energy Solution is launching an initiative to discover promising startups in the global battery sector.

LG Energy Solution announced on the 31st that it will hold the open innovation program 'LGES Battery Challenge 2022' to discover startups in the battery field.

Any battery-related startup can participate regardless of nationality, and applications can be submitted through the dedicated website opening on the 1st of next month until September 16.

The contest categories include ▲next-generation battery material technology ▲battery manufacturing process technology ▲battery management and control technology ▲smart factory ▲BaaS (Battery as a Service), with up to 10 companies to be selected.

After the first proposal submission, final companies will be selected based on comprehensive evaluation of business plans and in-depth video interviews, focusing on technological capability and business feasibility.

Selected startups will have the opportunity to attend a pitch day to present their corporate vision and business strategy, and receive investment evaluations from LG Energy Solution. All selected companies will be awarded prize money regardless of ranking.

LG Energy Solution stated that through active open innovation activities, it will focus on discovering and commercializing innovative ideas and building a strong network with promising global companies and experts.

Shin Young-jun, Executive Director of LG Energy Solution, said, "We are striving to continuously secure leadership in the battery industry through active open innovation activities such as the Battery Challenge," adding, "We will further expand cooperation with promising startups, leading universities, and research institutions."

This content was produced with the assistance of AI translation services.