LG NOVA ANNOUNCES FOURTH ANNUAL INNOFEST 2024, INVITES ENTREPRENEURS, INVESTORS AND STARTUPS TO INNOVATE FOR BUILDING A BETTER TOMORROW

LG NOVA InnoFest Lights the Halo of Innovation on Bold Ideas and Businesses with Open Conference Program, Issues a Call for Startups for the Pitch Competition

SAN FRANCISCO, July 16, 2024 /PRNewswire/ -- LG Electronics has opened registration for the fourth annual LG NOVA InnoFest, taking place on Sept. 25-26, at the Palace of Fine Arts in San Francisco. Hosted by LG NOVA, LG Electronics' North America Innovation Center, the two-day event will bring together a cross-section of business leaders, innovators and investors across various industries to collaborate on solutions for a better future. This year's event theme, "Lighting the Halo of Innovation" was designated to inspire attendees to focus on creating change and impact through co-creation and collaboration on bold ideas and businesses.

The event brings back its annual Startup Pitch Competition, where 10 selected startups will compete to win cash prizes, an audience with executive judges and recognition on stage. In this competition, LG is looking for bold startups with great potential, working on innovative ideas that can lead to transformative change in their markets. 

LG Electronics' sister company, LG Chem is co-sponsoring this year's startup pitch competition, adding a new Life Sciences category alongside CleanTech, HealthTech, AI, Smart Life and Open Innovation. The US Business Development team is seeking next-generation technologies that align with LG Chem's sustainability mission and will sponsor a new "Innovation for Impact Award."

For more details on each category, visit: www.lgnova.com/innofest/call-for-startups. Interested startups can submit their companies for consideration at www.lgnova.com/innofest/pitch-competition-application. In addition to the monetary prizes and on-stage recognition, selected startups may have the opportunity to collaborate with LG to build businesses, participate in LG NOVA-sponsored marketing activities, or qualify for investments from LG and its network.

According to a 2023 study from Boston Consulting Group, 79 percent of companies ranked innovation among their top three priorities and more than 40 percent expect to increase spending significantly. Today, innovation is being driven by a collaborative ecosystem. This interconnected approach, involving startups, corporations, academia and venture capitalists can result in groundbreaking solutions. InnoFest seeks to illustrate the capabilities of this model, bringing together startups, investors and members of the innovation community to exchange ideas, encourage, support and discuss how they can all work together to spur "innovation for a better life."

"Today the responsibility for innovation no longer sits solely with individual companies; collaboration is critical," said Dr. Sokwoo Rhee, corporate executive vice president for Innovation at LG Electronics and head of LG NOVA. "Through InnoFest, we are bringing together the entire innovation ecosystem, from corporations to growing startups, to discuss creative and cutting-edge ideas that have the potential to shape our future."

Last year's gathering brought 90 industry-leading speakers together for 28 sessions focused on topics such as women in tech; balancing growth, profitability, and impact; as well as diversity in tech. The event enabled people to join in the discussions on solutions to challenges in these key areas within the innovation community.

This year, according to Rhee, "InnoFest is boldly reimagining its program to be more interactive and engaging through a non-traditional conference format, emphasizing meaningful connections and inspiring conversations." Attendees can look forward to influential speakers and keynotes, select curated panels and more dynamic discussion-based sessions.

"At LG, we believe in the power of optimism and innovation to change the world," said Rhee, who invited startups to join LG at InnoFest 2024 "as we strive to create a brighter future together." 

Registration for the Innovation Festival is now open at innofest.lgnova.com. Interested in speaking or moderating at the event? Learn more at https://www.lgnova.com/innofest/speaker-application

About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center's mission is to build, nurture and grow innovations that impact the future. Learn more about LG NOVA at www.lgnova.com.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.

About LG Chem
LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value-added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 55.2 trillion (USD 41.6 billion) in 2023. For more information, please visit www.lgcheemm.com.

Media Contact:

LG Electronics USA

Linda Quach
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Rick Cohen
+1 212 885 0543
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SOURCE LG Electronics USA