Lab-grown fish, smart pillow: LG’s choices for future

Startups making lab-cultured seafood, smart pillows and others showcased their innovative products at an exhibition hosted by LG Group, South Korea’s fourth-largest conglomerate.

About 60 startups from the US, South Korea and Singapore including 11 selected for Superstart Incubator, the group’s startup development program, sought business opportunities with its key affiliates such as LG Electronics Inc. and LG Energy Solution Ltd. at Superstart Day 2022 on Wednesday and Thursday at LG Sciencepark, the conglomerate’s research and development center.

“Cooperation between startups with dynamic and flexible ideas, and large companies with long-established technology, know-how and infrastructure can create innovation,” said LG Sciencepark President Park Il-pyung. “We will continue to create opportunities for large companies and startups to communicate and cooperate for better future values.”

The group said it has agreed with Infineon Technologies AG, a German semiconductor maker, to jointly pinpoint promising startups during the show that they will then foster, according to LG Corp., the group’s holding company.

SUPERSTART INCUBATOR

LG Group launched Superstart Incubator earlier this year for early stage startups regardless of whether their businesses are related to the group.

Among the 11 startups selected for the program for the first time, BaoBab Healthcare Inc. produces edible lab-cultured fish by combining its microcells with 3D bioprinting technology.

“We aim to make healthy future food, which is free from marine pollution,” said a BaoBab official.

Maetel, another beneficiary of Superstart Incubator, manufactures a smart pillow that reduces snoring by 70-80% based on artificial intelligence and medical engineering.

Plana is developing vertical take-off and landing aircraft that can fly 500 kilometers with an aim to commercialize the Advanced Air Mobility service in South Korea by 2028, while Nara Space Technology Inc. has its own technology to produce ultra-small satellite systems and parts, as well as improve satellite image resolution.

LG Group plans to continue to help the selected companies by supporting stages in their business development such as idea buildup and proof of concept. The group will also provide legal and financial advice.

“We will provide up to 100 million won ($70,624) for each startup and actively match them with LG affiliates to expand business opportunities and attract external investments,” said the group’s startup incubator team official.

Write to Sungsu Bae at baebae@hankyung.com
Jongwoo Cheon edited this article.