Warsaw, April 8, 2022 — Today, LG Electronics (LG) announces live at Alpha Wolves the launch of the Future Home Global Innovation Challenge to identify innovative technologies and business ideas that pave the way for a better, healthier, and more connected future. The challenge is led by LG Electronics’ new venture client unit, LG Future Home, and in partnership with Wolves Summit, the most active technology conference in Central Eastern Europe.
Future Home Global Innovation Challenge is created to seek the best ideas, concepts, and businesses to create new customer experiences and improve quality of life in a smarter, healthier, more connected future. Selected finalists will be invited to present live at Wolves Summit between May 24-27 in Wroclaw, Poland for a chance to win a paid pilot opportunity and long-term commercial agreement.
The winners of the challenge will get the opportunity to work with LG Future Home to accelerate their growth and take their business to the next stage, potentially launching a pilot with LG. The company intends to support finalists with resources, funding for concept development, and access to LG’s global infrastructure and supply chain. The top 10 finalists will be sidetracked to pitch in the semi-finals at GPC Wolves Summit for a chance to win up to €200,000+ in cash and service.
“We envision a future where everybody within LG can easily join forces with external partners to create value for our customers. As a recognised leader in home appliances, we are looking to continually raise the bar to create a more inclusive user experience and sustainable tomorrow. What better forum than Wolves Summit – one the most influential tech event in Europe – to find some of the best companies building solutions for a better, healthier, and more connected future.” - Saikee Oh EVP and R&D Center Leader at LG Electronics Home Appliance and Air Solution Company
The challenge will spotlight innovations for technology solutions in the following categories:
New features, accessories, or services for “Upgradeable Appliance”: Content, services, applications, and technology that can be deployed in the connected home space, potentially leveraging LG’s ThinQ™ platform to streamline and improve how we live our daily lives with appliances during their entire lifecycle.
Solutions reflecting new life trends in Home Appliance and Air Conditioning systems: Solutions for specific audience groups e.g. single households/elderly/younger generations, new portable/wearable technologies as well as new services that will help scale the electric mobility infrastructure.
Innovation in material, components, and control for Home Appliance and Air Conditioning systems: Technological developments that could improve products’ durability and performance and positively impact people and the planet.
Future transformation of Home Appliance and Air Conditioning systems: An open track for breakthrough or adjacent innovations that create a more personalised, low-impact living and connected customer experience.
“We are delighted to partner with LG on their first global LG Future Home Innovation Challenge and bring the finalists to the floor of Wolves Summit. This innovation challenge enables opportunities for small and large companies to partner with LG to scale their innovations. And we are excited to play a key role in identifying the next solutions redefining the future of the home.” - Diana Florescu, Director at Wolves Summit
Selection Process & Eligibility Criteria
Applications for the Future Home Global Innovation Challenge will be accepted from April 8 to May 9. Eligible companies (startups/SMEs) with a working technology that has passed the Minimum Viable Product (MVP) stage can apply at challenges.wolvessummit.com/lg.
Companies’ evaluations will begin immediately. The Wolves Summit team will contact applicants who meet the selection criteria to provide additional information about their business.
The final 10-15 candidates will be notified during the week commencing May 16 and will be invited to pitch live at Wolves Summit 2022 on May 24-27. A special selection committee from LG will then select the challenge winners who will have the opportunity to develop their business in collaboration with LG and be supported by LG’s global organisation.
Learn more about how LG’s Future Home Global Innovation Challenge at challenges.wolvessummit.com/lg.
Marketing Manager, Wolves Summit
About Wolves Summit
Wolves Summit is an integrated dealflow and digital marketing platform for investors and tech companies, offering year-round engagement through digital events, corporate innovation challenges, and startup scaling activities. Wolves Summit’s flagship event is one of the largest, most active tech & innovation conferences in CEE bringing together over 2000 startups, investors, and business executives from the region and internationally. Learn more about the upcoming edition taking place on May 24-27 at http://www.wolvessummit.com.
About LG Future Home
LG Future Home is the Venture Client Unit of LG Electronics, a global leader in the Home Appliance & Air Solutions field. Our systematic Venture Client approach to matching solutions with real business opportunities keeps LG on the front lines of innovation. In exchange, we provide our startups access to the home appliances and air solutions industry through long-term partnership opportunities. Learn more at https://www.lgfuturehome.com/.
About LG Electronics Home Appliance & Air Solution Company
The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air solutions as well as visionary products featuring LG ThinQ AI. The company is creating various solutions with its industry-leading core technologies and is committed to making life better and healthier for consumers by developing thoughtfully designed kitchen appliances, living appliances, HVAC, and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more news on LG, visit www.LGnewsroom.com
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