LG is working hard to create a positive impact on society and the planet as a whole, and recently, we announced the “Life’s Good Award.”
The Life’s Good Award marks a significant step in our sustainability journey, helping to spread our Life’s Good message around the world. In addition to carrying out our own sustainable practices, we are inviting like-minded individuals and groups to step forward with their unique ideas to help build a Better Life for All.
The goal is to identify new and innovative solutions that align with our Life’s Good vision and to provide a better life for everyone. Winning submissions will be granted financial backing from LG to accelerate the production of these solutions, which will have a positive impact on not only local communities, but also the planet as a whole.
The goal of the Life’s Good Award is to identify ideas and solutions that protect the planet and make the world more inclusive. A significant amount of attention has been paid to climate change, and LG is working hard to become a carbon-neutral company while also developing products and solutions that protect the planet as a whole. Furthermore, we at LG are looking for ideas for products and services that make the world accessible for everyone, regardless of age or ability.
These financial awards represent a significant step and investment to further demonstrate our commitment to protecting the planet and creating a Better Life for All. We are looking to extend this leadership by encouraging more people to become involved. This desire was the foundation of the program.
The Life’s Good Award includes two categories. The first is called Innovation for the Planet. This category includes proposals that recognize innovative environmental solutions for technologies, systems and processes that help deliver a Better Life for All, including ideas that minimize environmental impact by pursuing renewable energy and carbon neutrality, creating circular economies, and developing eco-friendly products and services.
The second category is called Innovation for People. This category focuses on proposals that make life better for people as a whole. This category recognizes innovative solutions for technologies, systems and processes for a better, healthier, and more comfortable life for everyone, including ideas that prioritize and improve inclusivity through accessible and usable experiences for all people, including marginalized individuals/communities who experience physical and systematic barriers.
The selected submissions will receive the opportunity to work closely with LG, gaining access to our innovative research and development team that will enable access to extended resources to further build their proposals and ideas into the best position possible to be successful.
Already, the CEO of LG Electronics has stated that he and the company are looking forward to reviewing innovative ideas that can make society and the planet a better place. Furthermore, he reiterated LG’s commitment to provide support and encouragement to those who enter and win.
LG is bringing in respected academic, professional, and industry leaders with a wide range of backgrounds. They will work together with executives from LG to ensure the best idea proposals are identified. For example, one of the judges is Alex Edmans, a professor at London Business School, and Christopher Marquis, a professor at Cambridge Judge Business School. Both are award-winning experts in their respective fields. These professionals will be responsible for reviewing and evaluating all proposals, making sure that the best ones make it through to the next round.
After all of the proposals are reviewed, those with the highest ratings will proceed to the second round of screenings. Lastly, three finalists will be announced in early 2023. They will be responsible for presenting their proposals to the panel of judges in a final-round pitch. All three finalists will receive funding for their projects, however the amount of money they receive will be dependent on the order in which they finish.
Great minds come together to create even better ideas. These proposals for new products and services create the opportunity to make the world a Better Life for All.
Innovators worldwide can refer to the LIFE’S GOOD AWARD website for more details. To keep up with the latest news and developments from LG’s inaugural innovation challenge, stay tuned to LG Newsroom
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