LG Electronics (LG) announces that its first LIFE’S GOOD AWARD is underway. The participation period is open from September 6 to October 10. Announced at CES® 2022, the LIFE’S GOOD AWARD aims to discover innovative solutions in line with LG’s goal of creating a better life for everyone. A total of US$1 million will be awarded to help expedite the development of winning submissions. This contest is open to all, thus offering the possibility to our young Algerians to participate.
Envisioning a sustainable world where life is good for the planet and all its inhabitants, LG continues to pursue eco-friendly solutions and ideas for a greener environment and to develop user-centric products and services that provide access to practical, valuable and unique experiences for all.
The LIFE’S GOOD AWARD marks an important milestone in LG’s sustainability journey, helping to spread the company’s Life’s Good message around the world. In addition to implementing its own sustainable practices, the company now invites like-minded individuals and groups to pitch their unique ideas to help build a better life for all.
The LIFE’S GOOD AWARD asks entrants to submit their original, marketable solutions under either Innovation for the Planet, which aims to find solutions for environmental health, or Innovation for People, which focuses on ideas likely to enrich daily life by emphasizing safety, conviviality and accessibility. True to its philosophy of open collaboration, LG looks forward to working closely with budding innovators. Applications can be submitted on the LIFE’S GOOD AWARD website, where applicants will also find full details and conditions of participation.
“The LIFE’S GOOD AWARD encapsulates our philosophy of innovation, and our belief that the road to a better future can only be forged if we all come together,” said William Cho, CEO of LG Electronics. “We look forward to seeing people’s innovative ideas for a better society and a healthier environment, and to lend our support and encouragement to bring them to fruition. »
LG brings together respected academics from various environmental and social industries to support its own executives on the award jury, which has been dubbed Life’s Good Committee. Jury members include Alex Edmans, professor at London Business School, winner of the Financial Times Best Business Books of 2020 and the Financial Times Award for Excellence in Sustainable Finance Education, Christopher Marquis, professor at Cambridge Judge Business School and medalist of winner of the 2021 Axiom Business Book Awards in the Business Ethics category, and Hyun S. Shin, Professor at Hanyang Business School and Director of the Collective Impact Center at Hanyang University.
“The application of knowledge to alleviate real-world problems is the goal of any academic,” Marquis said. “LG gave us a powerful platform to do this. The LIFE’S GOOD AWARD leverages LG’s resources to bring together budding innovators, entrepreneurs, academics and business professionals and is a compelling example of how one company can have a real impact to improve lives. . »
LG has partnered with B Lab Korea, a non-profit organization specializing in corporate social impact measurement and certification to ensure that all applications submitted for the LIFE’S GOOD AWARD are assessed using relevant impact parameters.
Applications will be thoroughly evaluated in the first screening, and those with the highest marks will be subject to a second screening by a panel of LG executives and renowned scholars presiding over top-tier academic institutions. plan. The three finalists will be announced at CES® 2023 and present their project to the jury during a final pitch session in January. The first place (Grand Prize) winner will receive a prize of USD 700,000, while the second (Silver) and third (Bronze) winners will receive USD 200,000 and USD 100,000 respectively.
Innovators around the world can refer to the LIFE’S GOOD AWARD website for more details. To follow the latest news and developments from LG’s first Innovation Competition, stay tuned to the LG Newsroom.
