Press release
159KB
may 16, 2016 - LG Italia
LG announces startup initiative by spinning off two projects
Fostering a Creative Culture Outside the Corporate Environment SEOUL, May 16, 2016 ― #lg Electronics (LG) is taking its "open innovation" strategy to the next level by spinning off of two initiatives originally incubated in-house: Acanvas and Infit & Company Inc. While #lg will provide use of the patented technology, both companies will be managed completely by former #lg employees and will be responsible for their own fundraising and strategy. Acanvas will focus on developing its art streaming platform into a viable business.
The art streaming platform contains millions of licensed works of art displayed in cord-free customizable digital frames. Acanvas just started a Kickstarter campaign (http://bit.ly/1rYG7vj) last week to fund its completion of development. Acanvas will initially target North America with plans to expand to other markets next year.
Infit & Company Inc. is the company behind the Imaging Modular Diagnosis Machine, a medical product which employs the latest technologies to diagnose conditions such as rheumatoid arthritis. By using an affordable and safer optical imaging system instead of radiation to peer inside patients, Infit & Company Inc. hopes to revolutionize medical care.
To show its support for the venture and to alleviate a major risk associated with startups, #lg has promised employees who join either of the two new companies that they will have guaranteed positions at #lg if they should decide to return within three years. What's more, #lg will expand its initiatives to encourage more of the type of thinking that led to the formation of Acanvas and Infit. LG's Idea Power Plant is one program #lg has developed to identify and fund with up to 10 million Korean won the most promising employee-generated ideas that can be commercialized within five months.
"For us at #lg, open innovation shouldn't just be a motto, it should be actionable as well," said Dr. Skott Ahn, President and CTO of #lg Electronics. "By giving these two startups their own identity and freedom from the bureaucracies of a large organization, we are sending a very clear message to innovator and the public that we are not interested in maintaining the status quo."
ACANVAS_1%5B20160516092056646%5D
2000x1389, 175KB
ACANVAS_2%5B20160516092056651%5D
2000x1218, 194KB
ACANVAS_3%5B20160516092056656%5D
2000x1339, 178KB
Related news |
||
|
|
|
april 24, 2024
|
april 10, 2024
|
april 08, 2024
|
|
Dive into a thought-provoking expedition of artistic narratives with LG OLED and widely respected artist and filmmaker Sir John Ak... |
LG remains steadfast in its commitment to actively nurture ideas with the potential to fuel the company’s future growth. By foster... |
The inspiring LG Objet Collection has gained a global fan base since its worldwide launch in 2021, and for good reason. Through it... |
Download all 
You might be interested in |
||
|
|
|
april 04, 2024
|
march 13, 2024
|
january 18, 2024
|
|
From the best restaurants to the most expansive and complex warehouses, service and industrial robots are reshaping countless indu... |
An exciting transformation is taking place in the world of sports entertainment, revolutionizing how enthusiasts engage with live ... |
The mark of a successful partnership is a result that demonstrates how coming together creates something better than what one coul... |
Italian 
Download all 
Share
Share via mail 
Automotive
Sport
Events
Art&Culture
Design
Fashion&Beauty
Food&Hospitality
Technology
Nautica
Racing
Excellence
Corporate
OffBeat
Green
Gift
Pop
Heritage
Entertainment
Health & Wellness