LG Hosts 'Super Start Day' to Discover and Nurture Promising Startups

Selected 11 Promising Startups... Competition Ratio is 100:1

Park Il-pyeong, President of LG Science Park, is delivering the opening speech at the open innovation event "Superstart Day 2022," held for two days starting from the 12th at LG Science Park.

[Asia Economy Reporter Park Sun-mi] LG announced on the 13th that it held ‘Superstart Day 2022,’ a two-day event at LG Science Park in Magok, Seoul, to discover and support promising startups.

Major LG affiliates including LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, LG Household & Health Care, LG Uplus, and LG CNS, along with venture capitalists, accelerators, and academia participated to create a platform for fostering the startup ecosystem. Notably, 11 startups selected through LG’s startup nurturing program, ‘Superstart Incubator,’ also took part. This newly launched program discovers and nurtures ‘early-stage’ startups with innovative ideas, even if they have no business relevance to LG.

LG supports startups from the development of ideas that can collaborate with LG in products, technologies, and business models to the proof of concept (PoC) stage for commercialization. Additionally, a separate demo day is held for LG affiliates to showcase prototypes, technologies, and services, providing opportunities for investment and commercialization. Startups also receive advice on legal affairs, marketing, procurement, finance, and human resources from the ‘Superstart Crew,’ composed of LG employees, as well as workspace support.

LG plans to support up to 100 million KRW per company until the first half of next year to help startups realize their presented ideas and verify commercialization.

Besides the startups selected for the ‘Superstart Incubator,’ the event attracted attention with participation from startups such as ‘Synergy,’ developing wireless charging solutions for robots and mobility; ‘SoundEye,’ possessing fall detection technology using lasers and sound; ‘YBVR,’ providing XR (extended reality) streaming specialized in sports; ‘Deal,’ which developed a platform connecting job seekers remotely across multiple countries; and ‘Cellmit,’ developing cell-cultured meat products using Dokdo shrimp cells, from Singapore, the United States, and Korea.

At the event, LG expressed its commitment to actively participate in revitalizing the global startup ecosystem beyond Korea by signing a business agreement with ‘Infineon,’ one of the world’s top 10 semiconductor companies, to discover and nurture promising startups.

Park Il-pyeong, CEO of LG Science Park, said, “When startups with dynamic and flexible thinking collaborate with large corporations possessing long-accumulated technology, know-how, and infrastructure, new innovations are possible,” adding, “We will continue to strive to create opportunities for communication and cooperation so that companies and startups can create better future value together.”

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