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Selected companies may access to:

Resources and potential investments from LG Electronics, LG Display, and other LG NOVA affiliates that could total in the millions of dollars; and
Grant funding to support pilot, POCs and/or joint product development
Co-collaborate with LG for potential opportunities to develop multi-million-dollar engagements as new businesses within LG’s global innovation portfolio.

Eligibility

The Mission for the Future 2022 is open to all types of applicants, including any of following, as long as the applicant meets the eligibility criteria in Section 2(b):

  • Individuals or individual Entities: Companies of any size, academic researchers, research institutions, accelerators, incubators, technology transfer firms, consultants, venture capitalists, entrepreneurs, and inventors.
  • Team Entries: Teams and collaborative groups of one or more individuals or entities (each, a “Team”) provided that (i) the Entry Materials submitted for the Team designates a primary point of contact (“Team Contact”) to engage with LG NOVA; (ii) LG NOVA shall not be responsible for communicating with any Team members other than the Team Contact; and (ii) LG NOVA shall not be held responsible for or be deemed a party to any teaming agreements, verbal, written or implied, formed between members of the Team.

To be eligible for the MFTF:

  1. You or, for Team Entries, a member of the Team, must have developed, or be in the process of developing a product or service based on a new or innovative technology, or an innovative application of an existing technology developed by you or, for Team Entries, a member of the Team (“Innovation”).
  2. The Innovation developed or under development has the potential to address one of the following five key focus tracks:
    1. Digital Health
    2. ESG/Electric Mobility
    3. Smart Lifestyles
    4. Metaverse & Gaming
    5. Open Innovation
    6. Display Solutions
    7. You comply with Section I of this Agreement, the Search Guidance, and if selected as a Qualifier, Section II of this Agreement.
  3. There are no restrictions on your future funding or, for Team Entries, the future funding of any member of the Team, based on your or the Team’s funding as of the date of its Entry Materials submission.
  4. To the extent you or any Team member (for Team Entries) is a legal entity, neither you nor the Team member (A) is organized under the laws of a country which is not an Excluded Country (as defined herein), or (B) has any subsidiaries or affiliates located or incorporated in any Excluded Country (an “Eligible Country”).
  5. At least one of the following is true:
    1. If you are an individual submitting an Entry to the MFTF, you are:
    2. if the entrant on whose behalf you submit an Entry is an entity, at least one of entity’s founders or executives is:
    3. if the entrant on whose behalf you submit an Entry is a Team, at least one of your Team members or a founder or executive of a Team member is:
      1. A legal resident of an Eligible Country and are at least eighteen (18) years of age as of the date of Entry Materials submission.
      2. You are not, and no officer, director, manager, or employee of the entity on whose behalf you submit the Entry, or, for Team Entries, no Team member (or officer, director, manager, or employee of the Team member) is subject to sanctions in the United States or listed on the U.S. Department of the Treasury’s Specially Designated Nationals and Blocked Persons List or the Office of Foreign Assets Control Sanctions Lists, which may be found here.
      3. You do not have, and no officer, director of the entity on whose behalf you submit the Entry or, for Team Entries, no Team member (or officer, or director, of the Team member) has, any familial or financial relationship with LG NOVA or any Judge. If you become aware of any fact or circumstance that any such relationship exists or has developed prior to the judging of the MFTF, you agree to notify LG NOVA immediately. LG NOVA reserves the right in its discretion to exclude any Entrant due to other potential conflicts.

Excluded Countries:

Each of the following is an Excluded Country: Crimea – Region of Ukraine, Cuba, Iran, North Korea (Democratic People’s Republic of Korea), Sudan, Russia, Belarus, and Syria.

Evaluation

Challenge submission will be reviewed based on the
7 categories below:
  • Market Attractiveness - Market size, growth rate, competitive landscape, barriers, trends, market dynamics, etc. 
  • Team Potential - Talent diversity, track record, domain knowledge, existing investors, external validation, etc.
  • Collaboration Potential with LG - Potential for new joint business with LG, complementary assets and capabilities in services, technology, channels, etc.
  • Innovation Unlocked with LG - Unique synergy to enable novel solutions that do not exist today and together open brand-new markets, "together greater than sum of parts," etc. 
  • Right to Win - Unique competitive advantages, IP, differentiation, clear solution effectiveness, etc.
  • Traction - Business performance, user growth, product engagement, unit economics, etc.
  • Viability - Ability to execute, business model sustainability, long-term potential, etc.
    •  

Guidelines

Proposals can be submitted to the Mission for the Future 22 here.

The submission deadline is October 6, 2022, 11:59 p.m. PT  

Early entries may receive notifications of ongoing opportunities to engage with the LG NOVA team during the submission process.  

The online form will provide the opportunity to share your idea and how you would like to engage with LG.

The submission will be evaluated by the LG NOVA team based on the evaluation criteria provided above.  We will notify founders selected to take part in the next step of the competition in January 2023. 

Contact us with questions here.

Proposal must include only non-confidential and non-proprietary content.  

Submit your proposals today

Join us in our mission to improve the quality of life

Submit proposals here