The programme, led by LG NOVA – LG Electronics' North American Innovation Centre – builds on LG NOVA's ongoing work of co-developing ventures with startups. By expanding its reach to corporate partners, the initiative aims to amplify the impact of groundbreaking ideas and create more opportunities for innovation to enter the market.

At launch, the Partner Alliance Program includes key players such as Fujitsu Research of America, Hyundai CRADLE, IBM, Mayo Clinic Innovation Exchange, Niantic, and the West Virginia Department of Economic Development. These partners will collaborate with LG NOVA’s startup ecosystem to brainstorm, test, and validate fresh ideas, and work together on product development or co-creating new businesses. More partners are expected to join the programme in the near future.

“The new Partner Alliance Program aligns with our core mission to collaborate and create an ecosystem for startups to thrive and ensure that the innovations today become the market-leading solutions of tomorrow,” said Dr Sokwoo Rhee, corporate executive vice president for Innovation, LG Electronics and head of LG NOVA.

Kevin Chong, LG NOVA’s head of corporate and business development, said: “This programme is a win-win for all parties, including LG, as we continue to explore new ideas for business co-creation. The growth of new ideas and cross-industry collaboration will help the markets move forward faster towards a better future that benefits all of us, businesses, people and the planet.”

In bringing on corporate partners to its Program, LG NOVA is helping to create more opportunities for startups to find quintessential industry partners that will help it reach commercial success at a larger level, Chong explained. For the corporate partners, finding innovative startups to work with will help them address new market opportunities, extend their businesses into new areas and better address the changing needs of their customers. 

The Partner Alliance Program will leverage the resources of LG Electronics existing business units while also tapping into the pipeline of startups and resources available through the LG NOVA’s Mission for the Future initiative – a broad umbrella of programs designed around engaging with the entire innovation ecosystem to explore ideas on creating a better future through collaboration and tech innovations.

LG NOVA and the newly announced partners in the Partner Alliance Program plan to share more about their goals and vision for this program at the 2024 LG NOVA InnoFest, September 25-26, at the Palace of Fine Arts in San Francisco, California.