LG INTRODUCES ‘FUTURE HOME GLOBAL INNOVATION CHALLENGE’ AT ALPHA WOLVES SUMMIT

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In Partnership with Wolves Summit, Company Launches Competition to Discover Innovative Technologies and Solutions for a Better Life at Home

Jeddah: LG Electronics (LG) announced LG Future Home Global Innovation Challenge at Alpha Wolves Summit in Warsaw, Poland. Targeting startups and fast-growing companies, the challenge seeks innovations and solutions for a more convenient, connected and healthier life at home.

Alpha Wolves Summit is a special event, held on April 7 and April 8, hosted by Wolves Summit, a hybrid platform for investors and technology companies in Central and Eastern Europe (CEE). It pursues connecting established tech industry players with fund managers and promising new ventures. LG and Wolves Summit have been working closely as partners for LG Future Home Global Innovation Challenge.

Expected to garner interest from around the globe, the challenge asks entrants to submit their best ideas for innovations that will improve quality of life and user experiences at home. Winners will work with LG Future Home, the company’s new venture client unit, and be given resources and funding to help further develop their concepts and take their businesses to the next stage. The newly launched initiative will also serve as an excellent opportunity for startups nearing the commercialization of their offerings to attract additional investment. What’s more, the top 10 finalists will be invited to present at Wolves Summit’s flagship annual conference held from May 24 to May 27 in Wroclaw, Poland.

Submissions for LG Future Home Global Innovation Challenge should focus on solutions relating to one of four following categories: ‘New Features, Accessories or Services for LG Upgradeable Appliances,’ ‘Home Appliances Reflecting New Lifestyle Trends,’ ‘New Innovations in Home Appliance Materials, Components and Control’ and ‘Future Transformation of Home Appliances.’

“We are excited to launch LG Future Home Global Innovation Challenge in partnership with Wolves Summit and look forward to working closely with the winners to create intelligent, convenient solutions for the future home,” said Oh Sai-kee, executive vice president and head of LG Electronics Home Appliance & Air Solution Company’s R&D center. “We will continue to foster open innovation and seek out like-minded partners to deliver compelling customer experiences and a better life for all.”

About LG Electronics Air Solution Business Unit

LG Electronics’ Air Solution Business Unit is a global leader in HVAC and energy solutions with a comprehensive portfolio of proven expertise and performance. Launching Korea’s first residential air conditioner in 1968, LG has paved the way for total HVAC solutions over the last five decades through strategic utilization of advanced technologies. With a well-established production base and industry-leading capacity, the company provides effective HVAC solutions for both the commercial and residential sectors. Its wide range of cutting-edge systems for heating, ventilation and air conditioning truly represent LG’s initiative in offering the most optimized solutions for a variety of uses. Pursuant to its mission of “Innovation for a Better Life,” the company offers solutions boasting high energy efficiency and reliability based on its state-of-the-art knowhow and technologies to ensure the most optimal environment for users.