LG Electronics Strengthens B2B by Collaborating with Startups... Discovering New Business Opportunities

Electric Vehicle Charging, Medical Displays, and More

LG Electronics has strengthened its business-to-business (B2B) competitiveness by collaborating with startups in the electric vehicle charging and medical fields. This is part of a strategic effort to discover new growth engines.

On the 22nd, LG Electronics announced that it recently held a 'Biznovator' performance presentation at LG Science Park in Magok, Gangseo-gu, Seoul, in collaboration with the Korea International Trade Association. This program is an open innovation project that discovers and collaborates with startups specialized in B2B businesses.

This year, out of 123 applicant startups, eight companies were selected: Octov, ConnectBrick, Beamworks, Saurix, Monit, Weeklover, ScalaData, and TJ Labs. LG Electronics deployed new business experts to support these companies with technology and know-how while verifying their commercialization potential.

At the 'Biznovator 2024' performance presentation held on the 20th at LG Science Park in Magok, Gangseo-gu, Seoul, LG Electronics officials are examining the 'BeamWorks' technology that analyzes ultrasound images using AI. Photo by LG Electronics

Octov, which has a rail-based electric vehicle charging solution, can charge multiple vehicles using chargers that move along ceiling rails. LG Electronics plans to promote a pilot project utilizing this technology.

ConnectBrick is a company that possesses AI image generation technology. LG Electronics is reviewing ways to apply this technology to beam projectors.

Beamworks has technology that analyzes ultrasound images using AI. Applying this AI technology to LG Electronics' medical displays can provide differentiated customer experiences by assisting doctors' diagnoses through AI-supported functions.

Cooperation with past participating companies is also ongoing. 'SpaceVision,' which participated last year, is applying its proprietary advertising effectiveness measurement technology to LG Electronics' signage to demonstrate the technology. Additionally, at major exhibitions such as CES, the world's largest electronics and IT trade show, and the Korea Electronics Show (KES), SpaceVision showcased 'customer-tailored advertising solutions' together with LG Electronics.

Commercialization results are also emerging. LG Electronics will launch signage products next year equipped with 'SoundCast,' a proprietary technology developed by 'iSynapse,' which participated the year before last. 'SoundCast' is a technology that transmits and receives data using ultrasonic waves at frequencies inaudible to humans, providing customer-tailored services within the installation space.