LG Chem Global Innovation Challenge 2023
LG Chem is a global leading diversified chemical company and Sustainability is one of LG Chem’s core values. We believe that building a Sustainable Economy will be Disruptive.
Moreover, solving the Sustainability/ESG issues we face will require significant Cooperation and Collaboration from every stakeholder in the industry ecosystem.
Through LG Chem Global Innovation Challenge, we crave to advance our Disruptive Innovation journey, together with your entrepreneurial vision, purpose and spirit.
The team is reviewing all application and will get in touch with the applicants in the coming weeks. Stay tuned for more challenges!
We are looking for innovative ideas and practices that will make a difference in the areas "Circular", "Sustainable Materials" and "Function Materials". To apply for the challenges find yourself a matching one within those four themes below.
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.
Click here to find out more about this topic and apply for the challenges.
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.
Click here to find out more about this topic and apply for the challenges.
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. We strive to continuously innovate our technology and develop new materials and additives that are suitable for the changing environment, in order to meet the needs of our customers. To gain the innovation for all, we need make breakthrough with our partners. LG Chem is looking for partners who could solve problems that we are facing.
Click here to find out more about this topic and apply for the challenges.
LG Chem is investing significant efforts in building a global innovative technology ecosystem for sustainable technology and product development, beyond the top three topics pursued by GIC. If you wish to discuss more diverse topics, please join us!
The following startups have been curated and selected as the official winners of the LGChem Global Innovation Challenge 2023.
Sulapac
Sulapac's mission is to reduce CO2 emissions and eliminate microplastic pollution without compromising operational efficiency. Sulapac materials can replace conventional plastics in endless applications. They have a low carbon footprint and they are circu...
Epoch BioDesign
Epoch Biodesign engineers and harnesses nature’s most powerful machines, enzymes, to turn unrecyclable plastic and textile waste into valuable, reusable, climate-friendly chemicals. They have started by designing and scaling the first enzymes capable of t...
Microwave Chemical
Microwave Chemicals uses a platform to develop and provide the best microwave solutions for a wide range of industry challenges. MWCC utilizes its proprietary database to obtain the microwave absorption rate of each molecule consisting of the reaction inc...
APChemi
APChemi is debottlenecking the domains of plastic upcycling and biofuels. Their patented advanced pyrolysis and pyrolysis oil purification technologies transform non-recyclable plastic/tyre/biomass waste into high-value circular raw materials for downstre...
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.
We are offering the opportunity to initiate PoCs, receive strategic funding, as well as to gain access to our R&D resources.
Access R&D and Strategic Partnerships Groups of LG Chem for collaboration and networking.
Various types of funding with the size of 9 billion USD up to 2025 in total.
Collaboration opportunities with a variety of experts to scale up or PoC your technology.
For a more detailed overview of our challenge schedule, you can find our timeline below.
A proven track record of successful Startup-Corporate collaborations.
Learn more about the Global Innovation Challenge and frequently asked questions here.
QUESTION 1
What is LG Chem?
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.
QUESTION 2
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.
QUESTION 3
My business/Technology has not launched and is still in the theoretical stage, can I still participate in a challenge?
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.
LG Chem also offers a program where proposals for all possible collaborations can be made, regardless of the technology level. Please apply for the Sustainable Partnership Program through the link below.
QUESTION 4
How can I apply?
To participate in the LG Chem Global Innovation Challenge, kindly navigate to our topics overview and choose the specific topic to which you wish to apply. Once selected, please align your application with one of the challenges outlined within the corresponding topic pages and provide the jury with your company details via the application form.
Applicants that fulfill the foregoing conditions can fill out the application form.
In the following process, we will review your submission and transfer all applications to the respective business units within LG Chem where relevant decision-makers will decide about the next steps.
After this process we will get in touch with you and let you know about the outcome and potential collaboration.
QUESTION 5
Can I apply with multiple solutions?
If the criteria are met, multiple applications for various topics are allowed.
QUESTION 6
When is the deadline for the application?
The application window closes on October 24, 2023 at 23:59 UTC
QUESTION 7
Who will judge the application
The applications will be judged by a team of evaluators from various LG Chem business units. They will score all applications, among them technical and domain experts, in addition to investment professionals.
QUESTION 8
Are finalists guaranteed investment by LG Chem?
No, the finalists are not guaranteed investment or financial support by LG Chem or PnP Group. However, there is a budget available to run proof of concept projects with LG Chem.
QUESTION 9
What type of investment will be deployed?
If it aligns with our R&D strategy, we can proceed by investing in Joint Research, PoC support, and scale-up support.
LG Chem and Plug and Play are proud to collaborate on the LG Chem Open Innovation Challenge 2023.
LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers.
LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 51.9 trillion (USD 42.1 billion) in 2022.
Plug and Play Tech Center – operates from 50+ locations worldwide investing in future-thinking companies such as PayPal, Danger, Dropbox, and Lending Club. Overall, the Plug and Play network consists of 60,000+ startups, 500+ world-leading corporations, and hundreds of venture capital firms, universities, and government agencies across multiple industries. Together with our corporate partners, Plug and Play is creating a unique ecosystem designed to develop and implement the technologies of tomorrow.
For more information on the Global Innovation Challenge reach out to us on social media or via E-mail.
If you have any further questions that haven’t been answered by our FAQ, don’t hesitate to reach out to our project contact.
