KITA jointly hosts an Open Innovation Program between LG Household & Healthcare, the biggest cosmetics & healthcare company of South Korea and international startups in the ‘Bio/healthcare Industry’.
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COMPANY INTRODUCTION
LG Group is ranked No. 4 among Korean conglomerates by total assets. The group has over 234,000 employees worldwide, recorded annual revenue of $145 billion in 2020.
LG Household & Healthcare is the affiliate of LG Group in Healthcare & Beauty Industry. The company owns 20+ cosmetics brands and have recorded $4.5 billion sales in 2020, ranking at top 12 of ‘WWD Beauty Inc Top 100 rankings’ for 2020, the highest in South Korea.
To learn more about the company, please visit the official webiste : https://www.lghnh.com:984/global/index.jsp
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CHALLENGE INTRODUCTION
Due Date
2021.10.31, 11:59 pm
Areas of interest:
LG H&H seeks to collaborate with startups with following areas;
A. Companies that have or are preparing regenerative organic certification
– Companies that deal with farms, raw materials, and ingredients for food, beauty and personal care products
– Companies that have organic certification
B. Microbiome (skin, gut, etc.) and beauty-related genetic diagnosis/analysis/differentiated business model
C. Research on skin immunity-related efficacy evaluation method (lactic acid bacteria new function research)
D. Research on eco-friendly cosmetic raw materials such as bio-surfactant/ethanol
Qualifications
Startups with products (prototypes) / technology related to the areas of interest A-D.
*All materials submitted by startups should be written in English (Company one-pager, Pitch Deck, Business Proposal, etc)
**Business meetings will be conducted online and in English. Additional translation service will not be provided.
Benefit for selected startups
The possible benefits that can be provided by LG H&H for the startups that apply in this project are as follows :
– Joint Research / Commercialization
– Equity Investments by LG H&H
– Access to the information and DB that affiliated companies of LG hold
Specific benefits will be discussed at the business meeting between the selected startups and LG H&H
Process of Challenge
I. Application Deadline
1) February 28th, 2022:
A. Companies that have or are preparing regenerative organic certification*
*Further Schedules will be announced apart from Areas of Interest B-D
2) October 31st, 2021:
B. Microbiome (skin, gut, etc.) and beauty-related genetic diagnosis/analysis/differentiated business model
C. Research on skin immunity-related efficacy evaluation method (lactic acid bacteria new function research)
D. Research on eco-friendly cosmetic raw materials such as bio-surfactant/ethanol
II. Application Result Announcements – November 4th-15th, 2021
Every startup applicant will be communicated with the result via e-mail.
Startups selected for the business meetups will be asked to reply possible schedule to attend online meetups.
III. Business Meetup with LG H&H (Online) – November 18th-22th, 2021