LG Electronics and Bluepoint Complete Selection of Seven Teams for 'STUDIO341' Season 2

"Five-Month Incubation Program...
Spin-Offs to Be Selected in April Next Year"

The final seven teams for Season 2 of LG Electronics' in-house venture cultivation program, 'STUDIO341,' have been selected.

A participant is giving a presentation at an event related to LG Electronics' in-house venture incubation program, STUDIO341. Bluepoint

According to Bluepoint on November 21, the selected teams will participate in an approximately five-month-long incubation program, after which a demo day will be held in April next year to choose the final spin-off teams.

STUDIO341 is an in-house venture program that enables LG Electronics’ internal talent to discover new business opportunities, validate them in the market, and grow into independent corporations. The program is operated by Bluepoint Partners, a leading accelerator in Korea. In the previous Season 1, five out of the six final teams successfully spun off. Since then, these teams have continued to achieve revenue growth, attract external investment, and form business partnerships.

A key feature of Season 2 is the complete redesign of the program to focus on 'faster market validation' compared to previous seasons. During this process, 70% of the teams pivoted their business direction and established business models that meet actual market demands.

In particular, Bluepoint integrated its company-building model-developed through the discovery and support of numerous early-stage startups-into the program, designing the entire process of 'problem validation, pivoting, and achieving product-market fit (PMF)' as a hands-on experience to drive the growth of participating teams. Bluepoint assigns a dedicated evaluator to each team and supports commercialization through in-depth mentoring, connecting teams with experts, and facilitating collaboration with external startups.

Teams selected for spin-off will receive investments of up to 200 million won each from both LG Electronics and Bluepoint. The program provides a one-stop support system, from establishing new corporations to ongoing growth assistance.

Choi Wonki, Senior Evaluator at Bluepoint, stated, "Through Season 1 of STUDIO341, we confirmed the strong potential for LG Electronics’ internal talent to grow into entrepreneurs. When LG Electronics’ outstanding capabilities are combined with Bluepoint’s expertise in company-building, in-house ventures become not just a system but a new growth engine."

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