Organised by LG NOVA, the North America Innovation Centre of LG Electronics, this two-day event will unite business leaders, innovators, and investors from diverse industries to collaborate on creating solutions for a brighter future. The theme for this year’s event, ‘Lighting the Halo of Innovation’, aims to inspire participants to drive change and impact through co-creation and bold ideas.

The event will feature its annual Startup Pitch Competition, where ten selected startups will compete for cash prizes, an audience with executive judges, and on-stage recognition. LG is seeking ambitious startups with the potential for transformative market impact.

This year, LG Chem, a sister company of LG Electronics, will co-sponsor the competition, introducing a new Life Sciences category alongside CleanTech, HealthTech, AI, Smart Life, and Open Innovation. The US Business Development team aims to identify next-generation technologies that align with LG Chem’s sustainability mission, sponsoring a new ‘Innovation for Impact Award’.

For more information on each category, visit: www.lgnova.com/innofest/call-for-startups. Interested startups can submit their applications at www.lgnova.com/innofest/pitch-competition-application. In addition to cash prizes and on-stage recognition, selected startups may have opportunities to collaborate with LG on business development, participate in LG NOVA-sponsored marketing activities, or qualify for investments from LG and its network.

A 2023 study by Boston Consulting Group revealed that 79% of companies ranked innovation among their top three priorities, with over 40% planning significant spending increases. Today’s innovation is driven by a collaborative ecosystem involving startups, corporations, academia, and venture capitalists, resulting in groundbreaking solutions. InnoFest aims to showcase this model, bringing together startups, investors, and the innovation community to exchange ideas, provide support, and explore collaborative opportunities to drive “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, emphasising 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.