Plug and Play Tech Center and LG Chem to launch the LG Chem Global Innovation Challenge
Stuttgart, Germany, September 11, 2023 — Plug and Play Tech Center (Plug and Play) and South Korea’s top chemicals provider LG Chem will host the LG Chem Global Innovation Challenge (GIC). The challenge is aimed to give startups, academia, and businesses the opportunity to scale up their innovative solutions and join LG Chem as R&D partners on their journey towards a more sustainable future. Applications are open until October 20th, 2023 on the official website.
The GIC welcomes startups and R&D groups that are working on the development of novel products and technology in the chemical industry – especially in the battery, green and sustainability fields. Small and mid-sized businesses in the specialty chemical business can also participate to exhibit their capability to contribute to LG Chem’s business units with their existing or newly developed technologies and products.
As a global leading diversified chemical company, LG Chem embraces sustainability as one of its core values and believes that building a sustainable economy will be disruptive. Solving the sustainability issues requires significant cooperation and collaboration from every stakeholder in the industry. Through the GIC, LG Chem and Plug and Play are aiming to advance their disruptive innovation journey together and are seeking for the best entrepreneurial technologies in the battery & sustainable materials sector.
Participants will have a chance to get access to LG Chem's global network, funding, and unparalleled opportunities for collaboration with experts to scale up or PoC their technology.
The GIC is divided into three topics: Circular & Recycle: Circular Naphtha, Mechanical Recycle; Sustainable materials: New materials / Technologies for EV and Battery, High-efficiency Energy System, Bio-based Materials; Functional Materials: Special Additives & Compatibilizer, 3D printing, Eco Friendly Materials.
Sascha Karimpour, Partner at Plug and Play Tech Center/Co-founder STARTUP AUTOBAHN powered by Plug and Play:
"Joining forces with LG Chem, we look forward to achieving a common goal to help entrepreneurs in startups, universities, and businesses harness their innovative ideas and practices for a greener mobility and embrace a more sustainable future. As an Open Innovation Platform, Plug and Play has a proven track record of delivering meaningful innovation. Together with the GIC, we stay committed to bringing together industry partners and the best tech innovators to co-develop technologies for circularity, sustainable materials and functional materials.”
Noh Kuglae, Executive Vice President / President, Petrochemicals Company at LG Chem:
"LG Chem is looking for a global R&D partner to join us on our great journey toward a sustainable future. With innovative technologies that push the boundaries of the petrochemical industry, we look forward to discovering sustainable materials and solutions for circular plastics, green energy, and renewable energy."
Lee Jongku, Senior Vice President / CTO at LG Chem:
“We are very excited to meet exceptional startups and research institutes with innovative technologies from around the world at the 2023 GIC event. This event will focus on not only finding out-side-of-the-box solutions to go beyond the petrochemical industry but also realizing innovative ideas for the future. We invite you to embark on a journey of developing breakthrough technologies, together with LG Chem. Let's transform this competition into a time of discovery and achievement, where greatness is realized.”
Application is open until October 20th, 2023.
LG Chem Global Innovation Challenge Official Website:
https://innovationchallenge.pnp.tc/lgchem-gic-2023
Timeline:
- August 22nd — Applications open
- October 20th — Application close
- November 17th — Selection and evaluation
- December 5th — Pitching Day Event: official event with selected applicants
About Plug and Play Tech Center
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we’re in 50+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we’ve invested in hundreds of successful companies, including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi.
https://www.plugandplaytechcenter.com/
Main Contact:
Lini Pöppe
Partner Success Manager
l.poeppe@pnptc.com
Contact for Press
Julia Schimpf
PR & Communications Manager
j.schimpf@pnptc.com
About LG Chem
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.
Website: https://www.lgchem.com