LG Chem Global Innovation Challenge 2023

LG Chem and Plug and Play are proud to collaborate on the LG Chem Open Innovation Challenge 2023.

LG Chem is an affiliate of LG Corp; a globally diversified chemical company which established in petrochemical, advanced materials and biotechnology. Building upon a balanced and globally competitive business portfolio, including petrochemicals, advanced materials, life sciences, and a subsidiary specializing in batteries, LG Chem now endeavors to become one of the top five chemical companies in the world.

The goal of this challenge is to find ways to collaborate on technologies that have completed concept proof. Therefore, startups/companies are required to have a technology readiness level(TRL) of 5 or higher, while research group are required to have a TRL of 3 or higher to be eligible for the challenge.

General Topics

They are looking for innovative ideas and practices that will make a difference in the areas “Circular”, “Sustainable Materials” and “Function Materials”. Find your challenge within one of these four themes.

• Circular: LG Chem is driving the transition to a more sustainable plastics supply chain by minimizing waste and maximizing the recycling of scarce resources. This transition encompasses both conventional plastics and bio-plastics and aims to transform the business into a more sustainable model.
• Sustainable Materials: To achieve carbon-neutral growth in 2030 and net zero in 2050, LG Chem seeks to advance carbon reduction technologies and develop biodegradable materials through cooperation and mutually beneficial relationships. Energy transition is a critical pillar and one of the major trends of the future, and rapid growth is expected in new and renewable energy. LG Chem aims to secure a top position in the field of new and renewable energy materials by providing differentiated value based on competitive products.
• Functional Materials: LG Chem is committed to continuous efforts in fostering high-performance and innovative materials with high technological barriers, in order to create a safer and more convenient future lifestyle. They strive to continuously innovate their technology and develop new materials and additives that are suitable for the changing environment, in order to meet the needs of their customers. To gain the innovation for all, they need make breakthrough with their partners. LG Chem is looking for partners who could solve problems that they are facing.

What‘s in it for you?

They are offering the opportunity to initiate PoCs, receive strategic funding, as well as to gain access to their R&D resources.

• Global Networks
  • Access R&D and Strategic Partnerships Groups of LG Chem for collaboration and networking.
• Fundings
  • Various types of funding with the size of 9 billion USD up to 2025 in total.
• Collaboration Opportunities
  • Collaboration opportunities with a variety of experts to scale up or PoC your technology.

For whom?

LG Chem is looking for the best entrepreneurial & research group technologies toward a sustainable future

• Startups
  • From Pre-Seed (MVP Stage) to Scale-Ups: startup teams working on the development of novel hardware and software solutions in the mobility and automotive sector.
• Academia & Universities
  • R&D and University teams working on automotive-related applications both hardware and software.
• SMEs & Collaborators
  • Established SMEs in the automotive and mobility space that can contribute to the LG Chem business units with existing or newly developed technologies and hardware applications.

Who can apply?

The LG Chem Global Innovation Challenge is open to all startups, companies, and research groups (including university teams/Academia) worldwide. For startups/companies, applications are accepted if they have a technology readiness level (TRL) of 5 or higher, while research group are required to have a TRL of 3 or higher to be eligible for the challenge.

For more information, visit Plug and Play Tech Center.