Step into the innovative world of LG Electronics. As a global leader in technology, LG Electronics is dedicated to creating innovative solutions for a better life. Our brand promise, 'Life's Good', embodies our commitment to ensuring a happier life for all. We have a rich history spanning over six decades and a global presence in over 290 locations. Our diverse portfolio includes Home Appliance & Air Solution, Home Entertainment, Vehicle Components Solutions, and Business Solutions. Our management philosophy, "Jeong-do Management," embodies our commitment to high ethical standards and transparent operations. Grounded in the principles of 'Customer-Value Creation' and 'People-Oriented Management', these values shape our corporate culture, fostering creativity, diversity, and integrity. At LG, we believe in the power of collective wisdom through an inclusive work environment. Join us and become a part of a company that is shaping the future of technology. At LG, we strive to make Life Good for Everyone.
Company Background
LG's Mission is to be #1 by creating a better life for our customers. At LG, we make products and services that make lives better, easier, and happier through increased functionality and fun. Put simply, we offer the latest innovations to make “Life Good!” As a global leader, we strive for greatness in the products we make and our people. That is why we are currently seeking the newest innovator to join our dynamic team. We are currently seeking a contract Entrepreneur-in-Residence, Healthcare to join LG NOVA, the LGE innovation unit based in Santa Clara, CA. This can be a hybrid position.
LG Electronics North America Innovation Center (“LG NOVA”)
LG Electronics established North America Innovation Center (“LG NOVA”) in Santa Clara, California, USA., with an ambitious vision to become the nerve center of global innovation. Aiming to create the future of LG with the focus on disruptive and exponential growth, LG NOVA works with global corporations, startups, governments, and technology stakeholders to create new businesses, establish strategic partnerships, and develop a broad ecosystem using the process of “outside-in” innovation.
Position Summary
Entrepreneur-In-Residence (Director Level)
LG is seeking a Entrepreneur-In-Residence to join the Incubation division at its North America Innovation Center (“LG NOVA”) based in the Bay Area. This position will play a critical role in unlocking the next chapter of transformational growth for this over $70 billion dollar global tech company. The goal of the innovation division is to identify and grow new healthcare businesses for the next chapter of LG in collaboration with other startups and partners..
Roles And Responsibilities
Responsibilities for this position include but are not limited to:
- Identify compelling digital health market opportunities and develop product and business concepts into new company spin outs
- Collaborate with other start-ups and partners to create more robust solutions, designed to better meet the customers need and accelerate time to market and time to scale
- Partner with LG NOVA’s Ecosystem team to source and evaluate potential start-up partners
- Conduct customer discovery and market validation to confirm job to be done and potential demand
- Develop robust business plans including product strategy, business model and commercial plans.
- Pitch to internal review committee and external investor partners to secure new company creation approval and funding
- Develop financial projections that demonstrate the potential for the business to grow rapidly and achieve LG NOVA’s ambitious goals
- Develop networks of advisors and external experts that can assist in the development, validation and execution of a new business concept
Key Qualifications
- Must have relevant experience in digital health, healthtech, and wellness markets
- 15+ years of experience in digital health product development, commercialization and strategy
- Experience in taking a product/company from 0-1 in digital health is strongly preferred. Either as a founder or member of a founding team.
- Experience working in a healthcare company in a product, strategy or incubation/innovation role
- BS in CS, Engineering, Science, or Business
- Experience in open innovation, collaborative venture studio model and new business development based on collaboration with startups
- Broad understanding of technology around AI, SaaS, cloud, platforms, and various business models such as recurring revenue models
- Familiarity with venture financing mechanism and valuation models including new blended capital structures involving public/private funding and other impact related financial actors.
- Experience with business and technical requirements analysis
- Experience incubating new businesses at a startup and/or at a global tech company
- Entrepreneurial mindset with bias for action in highly ambiguous environments – enjoys making sense of white space and exploring nascent opportunities with large potential
- Critical thinking, intellectual curiosity, analytical/problem-solving skills, and the ability to combine and balance qualitative analysis, strategy and operations
- Excellent written and verbal communication skills and organizational skills
- Fluency in English is a must
Recruiting Range
$185,000—$270,000 USD
Privacy Notice to California Applicants
At LG, we aspire to empower people and celebrate differences because we believe diversity will create the unexpected. We provide equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Consistent with our commitment to providing equal opportunity and embracing diversity, LG has implemented affirmative action to ensure applicants are employed and employees are treated without regard to these characteristics.
In addition to the above, LG believes that pay transparency is a key part of diversity, equity, and inclusion. Our salary ranges take into account many factors in making compensation decisions including but not limited to skillset, experience, licensure, certifications, internal equity, and other business needs. While we consider geographic pay differentials in final offers, because we operate in many geographies where applicable, the salary range listed may not reflect all geographic differentials applied
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