LG Electronics, 6 stellar startups to jointly develop B2B growth engines

LG Electronics will team up with promising startups to discover and develop new growth engines for business-to-business (B2B) operations.

LG Electronics on Thursday along with the Korea International Trade Association (KITA) announced the results of proof of concept (POC) at the open innovation event "Biznovator 2022" at LG Sciencepark in Seoul. The event selects and supports startups specializing in technologies for the B2B sector.

Beginning its recruitment in April, the company selected six partner companies after two rounds of screening: I Synapse, Argos Vision, Invaiz, Watt, Mindeye and Biosenstech.

LG Electronics will provide the technology and know-how and conduct POC with the six startups.

I Synapse possesses a technology that transmits and receives data through inaudible soundwaves optimized for short-range communication.

If installed on a TV at a hotel room, this technology can provide unique functions such as automatic adjustment of air conditioning or heating through recognition of entry by a guest.

Argos Vision has a 3D camera with wide viewing angles as well as sensor technology, and Invaiz boasts a controller and content editing solutions optimized for use in video editing.

The results of POC for Watt (smart glass), Mindeye (video-based psychological analysis) and Biosenstech (X-ray imaging detectors) were also announced.

LG Electronics Executive Vice President Jang Ik-hwan, who heads the company's Business Solutions Division, said, "We will collaborate with startups equipped with innovative ideas and technologies and preemptively respond to changes on the rapidly changing B2B market and clients."

Write to Ji-Eun Jeong at jeong@hankyung.com