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Jeddah: LG Electronics announced the first group of startup companies that have been accepted into LG NOVA’s Mission for the Future global challenge program. As a part of the Proto Challenge, a preliminary startup competition designed to feed into LG NOVA’s global challenge program, eleven companies were selected based on their proposed solutions for a better life in the areas of connected health, energizing mobility, smart lifestyle, the metaverse and innovation for impact. These are key areas that LG NOVA is focusing on in its effort to build for the future with innovative startups.
The startups selected from the Proto Challenge competition will be joined by 40 additional companies selected in the Mission for the Future Challenge to become the First Fifty to work with LG NOVA’s incubation team. LG NOVA and the selected startups from both challenges will work closely together to refine their business and engagement ideas to potentially unlock resources and funding for proof-of-concept development and grow a business in collaboration with LG.
The companies were selected based on the following criteria: a clear vision to growing business with LG, a convincing pathway to commercialization and the uniqueness of the proposed solution or product. LG NOVA intends to provide up to USD 20 million in funding and resources to support the top 10 chosen businesses from the challenge.
The selected companies from the Proto Challenge are:
In Connected Health:
- Quiqmeds – A SaaS platform providing an alternate solution to retail pharmacies that use dispensing units for prescription fulfillment in physicians’ offices at the point of care. The solution puts the prescribed drug in the hands of the patient within minutes when they are still at the doctor’s office.
- XRHealth – XRHealth operates state-of-the-art Virtual Clinics, utilizing proprietary FDA registered medical virtual reality (VR/AR) applications. XRHealth integrates immersive VR/AR technology, licensed clinicians and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home. The company focuses on three main therapeutic areas: pain management, neurological disorders and behavioral health.
- MayaMD – MayaMD develops and sells engaging artificial intelligence (AI) platforms that improve healthcare. Maya’s solutions quickly gather a user’s symptoms, past medical history and/or laboratory results and convert this data into a list of potential diagnoses and follow-up care suggestions. By enhancing communication between patients and clinicians, the tools create an opportunity for better health outcomes.
In Energizing Mobility:
- Driivz – An end-to-end EV charging management platform offering operations management, energy management, user management, public and workplace and EV fleet charging management, as well as various advanced billing capabilities and EV driver applications.
- Resilient Power – EV charging stations that reduce the grid upgrades, size, permitting and installation labor by 90 percent.
- SparkCharge – One of the world’s first mobile and intelligent on-demand EV charging network.
In Smart Lifestyles:
- EveryKey – Military-grade smart key that wirelessly unlocks your devices and online accounts when you’re nearby, then locks everything down when you walk away.
- Chefling – The first AI-powered kitchen assistant providing a single platform to connect all your kitchen and cooking needs in today’s smart home.
In The Metaverse
- IQ3Connect– A web-based VR/AR platform for rapidly delivering scalable remote collaboration and training solutions.
- I3M.tv – Lets people connect, communicate and experience together in lifelike, immersive and interactive environments optimized for 3D and VR. The platform is updated with new experiences and features weekly. I3M.tv is backed by multinational investors and is poised to expand across multiple verticals such as entertainment, virtual travel, hospitality and more.
And Lastly in Innovation for Impact:
A.KIN – Women-led company that uses AI avatars and robots to help users run their homes, specifically providing support for people living with disabilities and caregivers.
Following the close of the challenge applications, LG NOVA will be hosting Mission Launch, a virtual event series for startups, from November 15-19.
The event will feature industry leaders from across corporate technology companies, domain experts, founders and entrepreneurs, all innovating to address global issues and challenges. In addition, during the week, attendees will hear advice from VCs, advisors, corporate and marketing leaders on positioning their business for growth in this changing landscape. All applicants are invited to join LG NOVA and experts across the industry to discuss the key topics that will impact our future.
About LG Electronics, Inc.:
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 75,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global sales of over USD 56 billion in 2020. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over.