'Customer Experience Management' LG Electronics Partners with Global Innovative Startups

San Francisco '2022 Fall Innovation Festival' Held

Healthcare, Mobility, Metaverse, etc.
9 Selected from Over 1,300 Startups...Up to $20 Million Investment

LG Electronics is accelerating the discovery of innovative customer experience (CX) technologies and ideas. Lee Seok-woo, Executive Vice President and Head of LG Electronics North America Innovation Center, is seen delivering a greeting to startup founders, investors, and influencers who participated in the "2022 Fall Innovation Festival" held on October 7-8 (local time) at The Craneway Pavilion in San Francisco, USA. (Photo by LG Electronics)

[Asia Economy Reporter Moon Chaeseok] LG Electronics is conducting an innovation project by selecting 9 startups out of over 1,300 global startups in fields such as healthcare, mobility, and metaverse, investing up to $20 million (approximately 27.7 billion KRW). This is to accelerate the pace of 'Customer Experience (CX) Management.'

On the 12th, LG Electronics announced that its North America Innovation Center (LG NOVA) held the '2022 Fall Innovation Festival' at The Crane Way Pavilion in San Francisco, USA, targeting startup founders, investors, and influencers. At this event held on the 7th and 8th (local time), LG Electronics announced the 9 startups finally selected through the idea contest 'Challenges for the Future.' Over 1,300 global startups competed in the contest, which began in September last year.

LG Electronics plans to invest up to $20 million in the selected startups. They will carry out projects aimed at innovating customer experience in future business areas such as healthcare, mobility, and metaverse. The selected teams will have opportunities to interact not only with LG Electronics but also with partner companies. They will receive chances to grow their businesses by participating in mentoring and pilot programs. They will also be able to utilize LG Electronics' global infrastructure and supply chain.

Looking at the profiles of the finally selected companies, 'XRHealth' is a healthcare-specialized startup based in the United States. It helps customers receive treatment comfortably at home by utilizing augmented reality (AR) and virtual reality (VR). LG Electronics is piloting virtual reality therapy rooms with this company at nursing facilities in the U.S. 'Driivz' is a software platform company in the electric vehicle charging and energy management sector. LG Electronics is collaborating with them to plan integrated operations of EV charging stations and smart battery storage devices in commercial buildings.

Meanwhile, the event attracted attention with keynote speeches by Marc Tarpenning, co-founder of Tesla, and Mary Lou Jepsen, founder of Openwater. They shared their experiences and know-how as innovators with the participants.

Lee Seok-woo, Executive Vice President and Head of LG Electronics North America Innovation Center, said, "We express our gratitude to all startups that showed interest and applied for the contest," and emphasized, "We will strive to create positive social change by collaborating with the selected companies across various fields."

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