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LG Electronics announced on the 3rd that it will start to discover new growth engines for B2B (business-to-business) businesses as a program to select and support promising startups.
LG Electronics announced the results of commercialization verification of 'Biznovator 2022' at Magok Science Park in Seoul on the 2nd. "Biznovator 2022" is a program in which LG Electronics selects and supports startups with B2B business specialized technologies with the Korea International Trade Association (KITA).
LG Electronics has selected six partners, including INVAIZ, after screening twice since its public recruitment in April. Since then, experts in the field and new business development have been deployed to provide technologies and know-how possessed by LG Electronics and have been conducting commercialization verification (PoC) with them.
Selected partners have differentiated skills in various fields. "INVAIZ" has a content editing solution consisting of a dedicated controller and SW (software) optimized for video editing. In addition, various promising partners were selected to create synergy with LG Electronics' B2B business.
Based on this PoC performance announcement, LG Electronics plans to conduct joint research with its partners. It will also continue innovative activities to strengthen customer experiences in various B2B fields such as ID (commercial TV, signage, etc.), IT (monitor, robot, etc.), and robot sectors along with promising startups.
"We will work with startups with innovative ideas and technologies to preemptively respond to rapidly changing B2B customers and market changes," said Jang Ik-hwan, vice president of LG Electronics' BS business division.