LG invites battery startups to join competition with $1M cash prize

(Credit: LGES)

LG Energy Solution (LGES) recently announced its annual Battery Startup Challenge 2022. LG’s battery subsidiary invites battery startups to join the international competition, which offers up to $1 million in cash prizes.

“By utilizing programs like Battery Challenge and Open Innovation, LGES aims to maintain its leading position in the battery industry,” said Youngjoon Shin, CTO of LG Energy Solution. “LGES will continue to expand battery-related research with promising startups as well as distinguished scholars and academic organizations around the world.”

LGES wants to identify battery startups with the potential for investment and collaboration through the competition. Any startup developing battery-related technology is welcome to participate in the challenge. However, the 2022 competition will focus on a few main categories– listed below.

According to information provided to Teslarati: “As many as ten startups will be selected as finalists, and each will receive funding as well as [the] opportunity for cooperation with LGES.” 

LGES will be accepting applications for the Battery Startup Challenge 2022 until September 16. The company will sponsor a visit to Seoul, Korea, for the ten battery startup finalists in February 2023. 

The lucky ten will pitch their work in battery development and participate in a workshop with LGES researchers, investors, and innovation teams. They will have the opportunity to collaborate with LGES and work on a proof-of-concept pilot project and other investment opportunities. 

For more details, visit: https://lgesbatterychallenge.com/

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LG invites battery startups to join competition with $1M cash prize
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