LG NOVA Honors Groundbreaking Startups at 2024 Pitch Competition
Santa Clara, CA – October 29, 2024 – LG NOVA, the North American Innovation Center of LG Electronics, has unveiled the winners of its highly anticipated 2024 Startup Pitch Competition. This year’s event, a highlight of LG NOVA’s annual InnoFest in San Francisco, showcased a diverse range of innovative startups focused on revolutionizing industries like Life Sciences, Open Innovation, HealthTech, AI, Smart Life, and CleanTech. Three standout companies were recognized for their remarkable potential to drive transformative change across various sectors.
Ten promising startups competed for coveted cash prizes and valuable recognition in front of a distinguished panel of industry experts, LG executives, and investors. The 2024 winners are:
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First Place: mDETECT Inc.
– mDETECT, a groundbreaking company in the field of cancer diagnostics, has developed highly sensitive blood tests utilizing DNA sequencing. This innovative technology offers a universal approach to monitoring therapy responses and detecting cancer progression. For their groundbreaking work, mDETECT received the top prize of $15,000.*
Second Place: Glidance
– Glidance is transforming the lives of people who are blind or have low vision by revolutionizing independent mobility. Their AI-powered intelligent guide, known as Glide, enhances confidence, safety, and autonomy, empowering users to navigate their surroundings with greater ease. Glidance was awarded $10,000 for their remarkable innovation.*
Innovation for Impact: Oncoustics
– Oncoustics is making waves in the medical field by transforming low-cost point-of-care ultrasound devices into powerful diagnostic tools. Utilizing AI, their technology enables the early detection and monitoring of liver diseases, offering a vital advantage in healthcare. Oncoustics received $10,000 for their selection as the Innovation for Impact company, a distinction sponsored by LG Chem.Beyond the financial rewards, participants will have the unique opportunity to explore further collaboration through LG NOVA’s esteemed Mission for the Future Program. This program aims to support innovative startups through potential collaborations, strategic partnerships, marketing opportunities, and a range of other valuable resources.
“We are thrilled to recognize startups that are truly pushing the boundaries of what’s possible, developing technologies with the potential to profoundly impact people’s lives,” said Dr. Sokwoo Rhee, corporate executive vice president for innovation at LG Electronics and head of LG NOVA. “These companies are leading the charge in critical fields like healthcare, cleantech, AI, and life sciences, and we look forward to exploring exciting opportunities with them as they continue to advance their innovations. Together, we can shape a brighter tomorrow by driving meaningful change through collaboration.”
The fourth annual LG NOVA InnoFest, a gathering of industry leaders, investors, and startups, fostered an environment of collaboration and exploration of emerging technologies. This year’s theme, “Lighting the Halo for Innovation,” underscored the critical importance of co-creation in driving meaningful progress. The festival featured over 70 esteemed speakers, covering a wide range of topics, from building successful ventures and the future of AI to innovative digital care models, energy management, and more.
About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is dedicated to bringing external innovation to LG. Based in Santa Clara, California, LG NOVA’s mission is to fuel innovation for LG and its partners by establishing a vibrant community to create, nurture, and grow businesses. To learn more about LG NOVA, visit www.lgnova.com.
About LG Electronics USA
LG Electronics USA, Inc., headquartered in Englewood Cliffs, New Jersey, is the North American subsidiary of LG Electronics, Inc., a global innovator in technology and manufacturing with over $60 billion in revenue. In the United States, LG offers a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions, and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. Visit www.LG.com for more information.
